The plan to build Kelowna’s two tallest residential towers is proving popular with buyers.
According to the developers of the One Water Street project, to be located at the corner of Water Street and Sunset Drive across from Prospera Place, more than 70 per cent of the units in the 36 and 29-storey twin towers were sold during the first weekend of sales. Thirty per cent were sold in the first few hours during a pre-arranged private meeting with potential buyers.
“The largest proportion of buyers came from the local area and from Metro Vancouver,” said developer North American Development Group in a news release Tuesday.
“These buyers were ‘downsizers’ and millennials looking forward to making One Water Street their new home in Kelowna. Just eight per cent of the buyers were from Alberta and six percent from other areas in the Okanagan. There were also buyers from various locations across Canada reaching as far as Toronto.”
A total of 160 units—including studio, one-, two- and three-bedroom condominiums and townhouses were sold during the first weekend of sales.
The sub-penthouse and penthouse units in the two buildings which were not part of the initial release, are now available starting from $1.799 million.
One Water Street will feature the two glass and concrete towers sitting atop a three-storey “podium” that connects the towers. The fourth level will be an elevated 1.3 acre landscaped park to be called The Bench, which would offer numerous amenities and outdoor space for residents, including two swimming pools, an outdoor hot tub, outdoor BBQs, fire-pits, a pickleball court and a dog run and a large private health club featuring fully-equipped gym and yoga studio.
Work has already started to remove the large earth pile that has sat on the site for several years and construction is expected to start before the end of the year. Completion and occupancy is slated for 2020.
Next door, construction is continuing on another high-rise residential project, the 21-storey 1151 Sunset Drive building.
It is being built by Kerkoff Construction, a partner in the One Water Street project.
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