The most expensive condo in the Okanagan is now for sale.
One Water Street’s penthouse suite, priced at $10 million, hit the real estate market last week. Construction in the building, including the penthouse, is still underway, but 98 per cent of the units in the building have already been sold.
One Water Street is a luxury development, with plans to host a variety of fitness studios including yoga, pilates, barre, and a traditional gym, as well as a grocery store. A 1.3-acre amenity area dubbed The Bench will include three different pools, an outdoor barbecue area, a pickleball court as well as an outdoor dog park. In total, the building has 227 units.
The $10 million penthouse suite on the building’s 36th floor boasts a panoramic view of Kelowna and Lake Okanagan, 4,500 square feet of interior space that the buyer can customize.
Started in 2018, One Water seizes on the rapid real estate growth in the region and offers a way for new residents to access Kelowna’s most popular sights and activities by developing in the heart of downtown.
Russ Watson is the North American Development Group (NADG) development partner and he said while the Okanagan has seen rapid growth in real estate, they saw it accelerate throughout the pandemic, something that he said made sense but was also a surprise.
“We’ve been witnessing firsthand through this development and other developments we’re involved in in the Okanagan that the luxury market has markedly improved,” he said.
“The demand has ramped up to an extraordinary level… people are moving here from all over Canada, they still have their jobs, they’ve now learned they can work effectively from a home base and they’ve decided they want that home base to be the Okanagan.”