One Water Street
Highrise Kelowna Condos in the Cultural District
Kelowna is benefiting from the development expertise of Kerkhoff and North American Development Group in 2018. Kerkhoff is putting the finishing touches on the 1151 Sunset Drive Kelowna Condo project on Water Street and has partnered with North American Development Group for the two residential tower project on the corner of Water and Clement.
One Water Street will feature two condo towers, townhomes and retail space in Kelowna’s Cultural District. This location has had a checkered past as it was originally slated for a hotel development before the crash of 2008. It stood for many years with a large preload pile and was a reminder of the global meltdown caused by the financial sector in the US.
The new residential Kelowna condo development is having tremendous success for a number of reasons. There are several driving factors in 2018 that are supporting a health first time buyer, relocation and investment buyers market.
- Prices for one bedroom and two bedroom condos are affordable by Vancouver Standards. A one bedroom condo in Kelowna starts at around $350,000 which is ideal for young professionals looking for their first home purchase.
- Buyers for the most part are currently not speculators but largely from three main sectors.
- The young professional working in the Okanagan’s booming economy.
- Retired couples looking to downsize or move from Vancouver up to Kelowna.
- Investment buyers looking for vacation homes or investment properties that are supported by low vacancy rates.
- Growth in our economy is adding approximately 300 people every month to our population. The largest home buyer group currently is the 25 to 34 years old. These are young couples with excellent jobs being drawn to Kelowna for the lifestyle, affordable living and careers. With BC and the Okanagan now part of Digital Technology Supercluster program by Justin Trudeau`s Federal government an increase in the tech sector will continue.
With all this good news and affordability One Water Street has released sales for the second condo tower six months earlier than planned. The first tower saw over $100 million in condo sales in just two months and now is approaching sold out status. The West and East tower combined will have a total of 404 condo units. This will help to alleviate a small percentage of the current housing demand for Kelowna condos.
One Water Street
One Water Street is designed to be an urban experience. At street level the development will feature retail space for cafe’s, bistros and shops. The condo development features a pedestrian friendly streetscape that blends landscape and the natural surroundings into the outdoor spaces of the development. On the roof of the retail and parking portion you will find The Bench – a raised park that links the two towers above street level. The Bench features amenities and access that include
- Two swimming pools
- Pickleball court
- Dog Park & walk
- Eco friendly landscaping
- Patios with fire pits
- BBQ and outdoor living
- Hot tub
- Health club
- Gym & Yoga Studio
- Business Centre
The One Water Street Condos, Townhomes and Sub Penthouse Suites
The two bedroom suites at One Water Street start at 1,136 square feet and go as large as 1,569 square feet, this includes the outdoor living space on the large decks. The interior designs are lead by award winning designer Judy Henderson of Inside Design Studio from Vancouver. These Kelowna Condos feature bold colours, strong lines and interior spaces that focus on simplicity and a modern flair. There is a choice of colour palettes and interior elements that can be describes as urban chic while still capturing a sense of warmth and comfort.
The three bedroom suites are exceptional and will be beautifully appointed modern homes in the cultural district of Kelowna. Floor plans range in size from 1,600 to 1,836 square feet which includes the exterior spaces on the large decks. Master bedroom and the living room – dining room feature expansive windows overlooking the beautiful Okanagan Lake or back across the city with views of the mountains. The Kitchens have a beautiful European feel with natural tones on the cabinetry, stainless appliances and stone counters. The bathrooms are equally well appointed and have a modern spa like feel.
There is also a selection of Townhomes from 2,249 to 2,421 square feet and Sub Penthouse units as large as 3,609 square feet available.
With a projected 95% Canadian ownership and the strong anticipation of buyers living in the development there is a real exciting vibe around One Water Street. Being so close to restaurants, microbreweries and pubs in the city there is no reason not to love the location. For the young owner working in the tech industry the opportunity to walk to work will be a big advantage. And of course it is just 1 block away from the beach, across the street from Prospera Place, down the block from the Art Gallery and a short bike ride from Knox Mountain Park.
With the city of Kelowna supporting higher density in the downtown neighbourhoods, the Cultural District and key development hubs these Kelowna Condos will be an excellent addition to our housing needs and offer wonderful opportunity for many to buy affordable homes in Kelowna. We anticipate seeming more Kelowna Condo developments before council in the near future.