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The new ONE Water East Tower is getting ready to welcome its new residents.
Standing at 36 storeys at the corner of Water Street and Sunset Drive, it will be the largest tower in Kelowna. It features 225 homes, a gym, pools, recreational rooms. All except one unit has been sold. Over the next two weeks, President and CEO of Kerkhoff Construction, Leonard Kerkhoff, expects the area to be alive with its newest members of the community.
“The building is looking immaculate. Ready to move in, and it’s super exciting to have that energy now coming into the building,” said Kerkhoff. “We’re super excited to be welcoming our purchasers, many of them bought here in the development four years ago so it’s been a long time coming.”
Kerkhoff also says the increase in foot traffic will be very beneficial for the local businesses in the area.
“Two-hundred and twenty-four residents taking ownership of their homes and moving into Kelowna, times that by two or three people per household, that represents a lot of extra traffic in the area,” he said. “A lot of people will be here visiting the restaurants, the shops and the services so it adds an extra layer of energy coming in here.”
The July 2021 figures from the Association of Interior Realtors shows an 18 percent increase over last year in total condo sales in the Central Okanagan. Kerkhoff says the new East Tower is helping with the increased demand for homes in the area, and the province.
“There’s a high demand and there’s a low supply of housing, it’s across B.C. and it’s a very big problem, but you know we’re contributing to the solution of the problem which is building more homes,” said Kerkhoff. “The more supply the better.”
Kerkhoff also added that most of the people who bought at ONE Water east were from Kelowna, Vancouver or the Lower Mainland.
A new piece of artwork will also be on display right along Sunset Drive in front of the main lobby. It will be unveiled to the public through a ceremony in the next two weeks according to Kerkoff, and the estimated cost of the art is $300,000.
For anyone looking to purchase at ONE Water, their west tower which stands at 29 stories will be completed in the spring of 2022, and there are still some spaces available. You can check them out here.
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Home Buying, Real Estate News