A new price point has been reached for an upcoming penthouse within a multi-tower condominium complex currently under construction near the Okanagan Lake waterfront in downtown Kelowna.
The price for the new private listing for the penthouse on the 36th floor of ONE Water Street’s East tower — the tallest building in the area between the Metro Vancouver and Calgary regions — is $10 million.
This asking price is almost three times the highest valued condominium sale price recorded on MLS history in the Okanagan, and just below the assessed value of Kelowna’s most valuable home, which is a lakefront single-family home worth $10.7 million.
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The penthouse at the building at 1187 Sunset Drive will have 4,500 sq ft of customizable indoor living space covering the entire level, designed by Toronto-based Gluckstein Design, with a master wing and space for at least three bedrooms and 3.5 bathrooms.
There is also 2,600 sq ft of outdoor living space with a chef’s kitchen and lounge area.
Panoramic 360-degree views of the city, lake, and mountains are a defining aspect of this property.
Residents also have access to extensive complex amenities on the ground level — a 1.3-acre, fourth-floor amenity space with two outdoor swimming pools, a hot tub, outdoor lounge with fire pits, health club, pickleball court, and entertainment and kitchen area.
“This is a notable and timely listing for the BC real estate market. There has been a surge in demand for luxury properties outside of major metropolitan areas since the start of the pandemic, launching cities like Kelowna onto the national and global map,” said Don Kottick, president and CEO of Sotheby’s International Realty Canada, in a statement.
“While many luxury real estate buyers are seeking primary and vacation homes that will offer more space and better access to the outdoors, many also desire the convenience, security and high-end amenities of condominium living.”
ONE Water Street’s West tower is shorter, but still tall for the city at 29 storeys. Both buildings create notable peaks in downtown Kelowna’s emerging skyline. The complex has a total of 427 homes, plus retail and restaurant space on the ground level. A full completion is expected in 2022.
The complex is developed by North American Development Group and designed by Kasian Architecture.
However, the East tower’s title as the tallest in BC outside of Metro Vancouver will be elapsed in a few years from the completion of Water Street by the Park (443 ft, 42 storeys) and Waterfront Hotel (439 ft, 32 storeys).