Sotheby’s International Realty Canada recently announced that a penthouse in Kelowna, B.C., developed by North American Development Group (NADG) and Kerkhoff Construction, is priced at $10 million. The property is priced at nearly three times the highest valued condominium reported sold on MLS in the history of the Okanagan. The property is an exclusive listing and will not be listed through MLS, the company says.
Situated high above Lake Okanagan on the 36th storey of the One Water Street development’s East tower, the penthouse crowns the tallest building between Metro Vancouver and Calgary. With floor-to-ceiling windows, the luxurious full-floor suite features 360-degree views of downtown Kelowna, Lake Okanagan and surrounding mountain ranges. The expansive soon-to-be-complete residence boasts 4,500 square feet of customizable interior space designed by Toronto-based Gluckstein Design, including a stunning master wing and the opportunity for at least three bedrooms and three-and-a-half bathrooms. An additional 2,600 square feet of exterior living space features a fully equipped chef’s kitchen and panoramic lake views.
“Our goal with the One Water Street Reserve Collection is to provide an elevated living experience for discerning buyers seeking access to the natural beauty of B.C.’s renowned lake and wine regions, while experiencing the conveniences and amenities of luxurious condominium living,” says Henry Bereznicki, managing partner at North American Development Group. “The penthouse is truly the crown jewel of the collection. We believe it will attract demand from a top-tier buyer looking to expand their real estate portfolio with a bespoke, landmark property.”
The development is in the heart of the Arts and Cultural district of downtown Kelowna. The towers are 36 and 29 storeys for the east and west towers respectively. Residents can enjoy nearby award-winning restaurants, shops and entertainment within walking distance and exclusive access to The Bench, a 1.3-acre fourth-floor facility with resort-style amenities including two outdoor swimming pools, a hot tub, outdoor lounging with fire pit enclaves, health club with yoga/Pilates studio, entertainment/kitchen area and pickleball court.
“This is a notable and timely listing for the B.C. real estate market,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada. “There has been a surge in demand for luxury properties outside of major metropolitan areas since the start of the pandemic, launching cities like Kelowna on to the national and global map.”
“While many luxury real estate buyers are seeking primary and vacation homes that will offer more space and better access to the outdoors, many also desire the convenience, security and high-end amenities of condominium living,” he says.
The property, which comes to market two months following the release of B.C. Assessment’s list of top appraised properties, clocks in just shy of Kelowna’s most valuable property, a waterfront single-family home assessed at $10.7-million.