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First phase units in ONE Water Street’s East Tower are proving to be very popular with residents of the Lower Mainland.
According to developers, almost half (46%) of the project’s units have been purchased by Metro Vancouver and Lower Mainland residents.
ONE Water Street’s 36-storey East Tower will set a record for tallest residential development in Kelowna’s history and has peaked interest among Vancouver realtors and pre-retirees says North American Development Group.
"If you were considering buying a downtown luxury high-rise home in Vancouver, you’d expect to pay close to $1,700 to $3,000 per square foot," reads a press release from the ownership group.
"In Kelowna, luxury high-rise homes with similar specifications and amenities, spectacular water views and a vibrant downtown setting can be had for just $700-$800 per square foot."
Almost half of the West Tower’s homes will be priced at or below $500,000, including one-bedroom-and-den floor plans.
The two glass and concrete towers at ONE Water Street will sit atop a three-storey “podium” topped by an outdoor fourth level elevated 1.3-acre landscaped park called “The Bench”.
Construction on what will be the tallest tower between Vancouver and Calgary upon completion began in mid-February.
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