Breadcrumb Trail Links
Author of the article:
Osprey at Waterscapes is a Ledingham McAllister project in Kelowna. [PNG Merlin Archive] PNG
Postmedia can earn an affiliate commission for purchases made through our links on this page.
Article content
The phrase “everything has a season” seems particularly applicable to the Kelowna real estate market these days. After a mini-boom between 2000 and 2007, the market cooled off with the global financial crisis, leaving the city with a surplus of new homes and few buyers.
For Ledingham McAllister of Vancouver, Waterscapes was the first foray into the Kelowna market. After the market cooled, the company decided to rent out many of the 890 tall and low-rise buildings until the situation improved.
After the good times returned for Kelowna real estate, the developer put the homes back on the market and buyers reacted.
“I would say we have two main groups shopping: young professionals looking for their first homes and lots of downsizers from Kelowna and Vancouver,” said Siobhan Sloan McMullen, sales director for Waterscapes, adding that there are also some from Calgary and Vancouver Come to Edmonton and shop a home away from home. What buyers get is a desirable location that takes advantage of the water park and boardwalk that the city developed years later.
advertising
This ad hasn’t loaded yet, but your article continues below.
Article content
Ledingham McAllister has sold all of the units in the 27-story Skye Tower and is now focused on selling houses in its two low-rise buildings. About 64 out of 71 homes in Osprey 1 have now been sold and the developer is preparing to sell homes in Osprey 2, Sloan McMullen said, noting that an exact date has not been set.
The developer has cosmetically updated the Craftsman-style houses, mostly by adding a coat of paint to the interior, she said.
The company provided a generic list of features, including full-size kitchen appliances, as well as stackable washers and dryers. Spacious walk-in closet in the master bedroom with practical cupboard shelves, porcelain tile floors in the kitchen and bathroom, chrome Kohler fixtures, air conditioning and an electric fireplace. Outside there are pedestrian-friendly walkways with decorative street lights and seating areas.
Amenities include the Cascade Club, which features an outdoor pool, hot tubs, fitness facilities and a billiards room. The club also contains three guest suites that owners can book for their visitors.
Ryan Smith, the city’s community planning manager, says the community plan will increase density in Kelowna to accommodate the new wave of workers looking to create jobs from developing high-tech industries and institutions like Interior Health and RCMP were created to provide a home, both of which have expanded their presence in the city.
advertising
This ad hasn’t loaded yet, but your article continues below.
Article content
“We wanted to create higher density neighborhoods in this area where many downtown jobs are within walking distance. This created the desirable high street that people wanted to be on, and we wanted to create an area that many people wanted to live in. “
Waterscapes was Ledingham McAllister’s first foray into the Kelowna market, Smith said, adding that with 16 years of experience in town planning, he was surprised at how quickly Kelowna has grown in recent years.
“I think there will be pretty constant demand here even if the economy slows down a bit,” he said. “We are starting to reach the height of baby boomer retirement in the next few years. Although there are some places that will be negatively impacted, I think the Okanagan will be a bit isolated because it is desirable to retire here.
“We get positive feedback from people who have been here for the first time in 10 years and it shows us that we are doing a lot of things right,” he said.
The on-site sales center is open Saturday through Wednesday from 11 a.m. to 5 p.m. Interested parties can register for more information at www.ledmac.com/waterscapes/about/osprey.
Ospreys at Waterscapes, Kelowna
Project address: 1075 Sunset Dr., Kelowna
Project scope: Waterscapes is a full community of 890 homes, including 71 homes in Osprey 1 and 58 in Osprey 2, two four-story timber frame buildings. Homes range from one bedroom and den starting at 698 square feet to three bedroom units up to 1,106. The rest of the development includes the 27-story Skye Tower and Heron 1 and 2, two four-story timber frame buildings. Osprey is near Lake Okanagan Waterfront Park and downtown. Amenities include an outdoor pool, hot tubs, and three guest suites
Price: From $ 369,900
Developer: Ledingham McAllister
Architect: Rositch Hemphill & Associates
Interior design: The mill
Sales center: 107-1089 Sunset Dr., Kelowna
Hours: Open from Saturday to Wednesday from 11 a.m. to 5 p.m. (closed Thursday and Friday)
Website: www.ledmac.com/waterscapes/about/osprey
Completion date: Now built
Share this article on your social network
Vancouver Sun Headlines
By clicking the “Subscribe” button, you agree to receive the above-mentioned newsletter from Postmedia Network Inc. You can unsubscribe at any time by clicking the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
Thanks for registering!
Remarks
Postmedia strives to maintain a vibrant but civil discussion forum and to encourage all readers to share their views on our articles. It can take up to an hour for comments to be moderated before they appear on the website. We ask that you keep your comments relevant and respectful. We have turned on email notifications. You will now receive an email when you get a reply to your comment, when a comment thread you’re following is updated, or when a user follows comments. For more information and details on customizing your email settings, see our Community Guidelines.
