Three-tower complex preparing for sales

Sales for a new residential development in downtown Kelowna are expected to begin this spring.

Water Street by the Park is a three-tower, multi-phase development next to Kelowna City Park in the 1600 block of Water Street.

“In addition to offering panoramic views of both the city and beautiful Okanagan Lake, the 559,000-sq.ft. mixed-use development will feature 650 residential condominiums, including 45,000 sq. ft. of retail and office space,” a news release from Chad MacTavish, Sales Director, Water Street by the Park, stated.

The project is being led by Anthony Beyrouti and Apriano Meola, co-founders of Orchard Park Properties.

The Park’s three towers will be 24, 28 and 42 storeys with a mass timber bridge running parallel with Water Street connecting two of the towers.

“From its location at the eastern end of the William R. Bennett Bridge, one block from Kelowna City Park and Hot Sands Beach, the project will offer expansive views of Okanagan Lake, as well as mountain and valley views. Residents will enjoy those vistas from their spacious 200-sq.ft.+ decks. Prospective buyers will have an online opportunity to virtually sample the breathtaking views from each floor in the coming weeks,” MacTavish remarked.

The 650 residential units will include a mix of one and two-bedroom units as well as large three-bedroom corner units facing the lake.

“We’re seeing tons of interest from out-of-town buyers in particular, who want to downsize and are excited to have a larger three-bedroom option at a price much lower than they would find in Toronto or Vancouver,” MacTavish added.

The development was approved by Kelowna Council in January 2021. Sales for Water Street are anticipated to begin in late spring 2021, with construction expected to follow later in the year.

For more information, visit www.waterstbythepark.com