The company behind the redevelopment of lower Leon Avenue says it’s ready to begin construction of Water Street by the Park.
Orchard Park Properties says it has applied for a building permit for the first two towers following successful pre-sales over the past several months.
Company co-founder Anthony Beyrouti says Tower One is completely sold out while more than 200 units in Tower Two have been sold.
“To date, 345 units have been sold at the 650-unit development with numerous other purchases currently in the contract process,” a news release states.
“Site clearing and preparation has now begun for the lakeside development set to become the most striking residential landmark in Kelowna’s skyline.”
City planning manager Ryan Smith says due to the complexity of the project, it could take six weeks or more to sign off on the building permit.
Beyrouti anticipates construction of the first two towers on the north side of Leon Avenue, including the 42-storey Eli tower, will begin shortly after the permit is approved.
The Eli will be the tallest building between the Lower Mainland and Calgary once it’s complete.
“The demand for new homes in Kelowna is just incredible, and it’s coming from all directions,” Beyrouti said. “Our buyers include Kelowna residents who already know and love the city and want that magnificent view they’ve dreamed about for years, as well as people who have vacationed here before, or have heard all about Kelowna’s healthier lifestyle, recreation opportunities and its high ranking on national and worldwide livable city rankings.”
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