ONE Water Street is starting to rise, and the developers behind Kelowna’s tallest buildings could not be happier with how sales have gone.
“The project’s a huge success,” North American Development Group managing partner Henry Bereznicki says. “We’ve come to the market with a high-quality project, and the market has accepted that and rewarded us by buying the homes.”
The proof is in the pudding. NADG and Kerkhoff have already sold 365 of 426 homes in both towers combined, and the first building isn’t scheduled to open until the spring of 2021. If that doesn’t indicate the kind of project that is going up in downtown Kelowna, nothing will.
“We’ve created, in our opinion, the most unique product in Kelowna,” Bereznicki says. “In addition to oversized suites with oversized balconies with spectacular views of the lake, we’ve also committed 60,000 square feet of outdoor amenity space, which is 1.3 acres of park space on top of the three-level parking structure, which includes two outdoor swimming pools, an outdoor hot tub, six fire pits, six barbecue areas, a dog run and a pickleball court.
“In addition to those amenities, we’ve got a 3,000 square-foot health club in addition to a 2,000 square-foot yoga and pilates studio. No one’s spending as much on amenity space as we are and offering as much amenity value for free, and we’ve got lots of parking.”
ONE Water Street’s two towers will have a unique look that Bereznicki describes as “iconic.” They will be tall and skinny instead of big, bulky blocks.
“We’re spending more money because it costs money to go tall and skinny,” Bereznicki says. “I’m very proud of how it’s going to look. The building is gorgeous. It’s not just a four-sided glass box.”
ONE Water Street has price points remaining from the high $700,000s to $6 million following the recent release of the Reserve Collection, which consists entirely of lakeview homes. Two- and three-bedroom condos (some with dens), townhomes, sub-penthouses and penthouse are available.
The East Tower, which is under construction now, is 92 per cent sold, while the West Tower, which will start rising next fall, is 84 per cent gone.
“Both are home runs,” Bereznicki says.
The project fits in perfectly with what Kelowna city officials are trying to accomplish, which is getting more people living downtown. They want the area to thrive, and Bereznicki points out that ONE Water Street will be leading the revolution.
“When we were doing the design I compared it to an all-inclusive resort in Cancun,” he says. “Your hotel room’s in a tower. Then you’ve got this huge outdoor swimming pool and suntanning area, where you’d spend the whole day by the pool.
“For me, I like to work out, and being able to work out in your building—not having to join the gym, not having to join a health club and not having to get in your car—is pretty cool. You just go down the elevator. And we’re buying L.A. Fitness-quality machines. This isn’t just a few free weights. We’re buying quality machines and quality everything.”
And if the residents of ONE Water Street need anything, nothing will be far away.
“We’re bringing urban Okanagan living to downtown Kelowna,” Bereznicki says.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Okanagan Edge.
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