Construction is starting on the $85 million Skywater tower next to the Movala, now under construction.
Image Credit: Submitted/Movala.ca
May 18, 2023 - 12:32 PM
The Stober Group has taken out an $85.3 million building permit from the City of Kelowna.
That’s the cost of the Skywater tower which is the final phase of its Movala development next to Bryce Gyro Park in the Mission.
It will be 14 storeys that go on the podium that is already under construction for the 10-storey Movala tower along with parking, shopping and recreation areas.
The total cost for the entire project is about $210 million, Stober’s director of development Bob Dagenais told iNFOnews.ca.
“Sales have been steady all through the winter,” Dagenais said. “That’s not typical in Kelowna real estate. You kind of go through a bit of a drought before the spring market hits and we just didn’t see that happening.”
About 70 of Skywater’s 129 units are sold, with about half being Lower Mainland buyers but most of the rest being local.
“The units, on average, are larger than most (in the market),” Dagenais said. “It was designed to capture that established downsizing market in the Lower Mission area.”
There are four penthouse units, two each on the 13th and 14th floors, ranging from 1,900 to 2,600 square feet.
READ MORE: iN PHOTOS: $5-$12 million condos raising the bar for ultra-luxury in Kelowna
Movala is expected to open by the end of 2025 and Skywater about nine months later.
More information is available here.
To contact a reporter for this story, email Rob Munro or call 250-808-0143 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.
News from © iNFOnews, 2023