First phase units in ONE Water Street’s East Tower are proving to be very popular with residents of the Lower Mainland.

According to developers, almost half (46%) of the project’s units have been purchased by Metro Vancouver and Lower Mainland residents.

Photo Credit: ONE Water Street.

ONE Water Street’s 36-storey East Tower will set a record for tallest residential development in Kelowna’s history and has peaked interest among Vancouver realtors and pre-retirees says North American Development Group.

"If you were considering buying a downtown luxury high-rise home in Vancouver, you’d expect to pay close to $1,700 to $3,000 per square foot," reads a press release from the ownership group.

"In Kelowna, luxury high-rise homes with similar specifications and amenities, spectacular water views and a vibrant downtown setting can be had for just $700-$800 per square foot."

Almost half of the West Tower’s homes will be priced at or below $500,000, including one-bedroom-and-den floor plans. 

Photo Credit: ONE Water Street.

The two glass and concrete towers at ONE Water Street will sit atop a three-storey “podium” topped by an outdoor fourth level elevated 1.3-acre landscaped park called “The Bench”.

Construction on what will be the tallest tower between Vancouver and Calgary upon completion began in mid-February.