Kelowna city council has approved Water Street by the Park, a three-tower development that includes 650 homes and 45,000 sq. ft. of retail and restaurant space. Designed by HDR Architecture Associates, the three towers will be 24, 28 and 42 storeys with a mass timber bridge running parallel with Water Street connecting two of the towers.
When complete, the 42 storey tower will reach 442 feet, making it the new tallest tower in B.C.’s interior.
From its location at the eastern end of the William R. Bennett Bridge, only 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.
At street level, the podium of each tower will provide several levels of street-facing commercial space, which will become home to numerous boutiques, cafes, and other retailers and service providers. This influx of residents and retailers will add further momentum to the growing vibrancy and diversity of Kelowna’s downtown core.
“Having travelled to Kelowna countless times over my life, its easy to see why so many people want to live here, and our goal is to help them realize that dream,” said Anthony Beyrouti, co-founder of Orchard Park Properties, the project’s developer. “As committed as we are to building this project and these beautiful homes, we’re equally committed to being great corporate citizens that will work collaboratively to enhance Kelowna’s status as a great place to live and work.”
Water Street by the Park’s residential units will include a mix of one- and two-bedroom units as well as large three-bedroom corner units facing the lake that will accommodate a deficiency in the current condo market. The project will feature resort-style indoor-outdoor amenities including a year-round heated pool overlooking the Marina.
There will be 727 underground parking stalls and 566 bicycle parking stalls. Construction is expected to begin later this year.