Kelowna Real Estate Mag was invited along to a special evening as Stacey Fenwick gave us a personal tour of the Sopa Square Discovery Centre in South Pandosy. Aj Hazzi and Joel Sherlock from Vantage West Realty were in attendance and both were equally impressed with the Sopa development.

The Sopa Square Discovery Centre is located at 3013 South Pandosy.

The real estate market in Kelowna is expected to strengthen in 2010.

According to a recent report by REMAX, house prices in Kelowna will increase about 5 per cent in 2010.

Property values in and around Kelowna fell slightly this year, but there is good news on the horizon.

Top performers in terms of unit sales appreciation in 2010 are all in Western Canada, leading the way is Kelowna with an anticipated upswing of 10 per cent in housing sales.

“Some of the greatest percentage gains were reported in Western Canadian markets in 2009, demonstrating the higher the peak the lower the valley,” says Regional Executive Vice-President, Elton Ash.

“That said, the recession barely registered on year-over-year activity in most major centres.”

According to the report the national average price of a home is expected to rise to $325,000 by the end of 2010, a high, never before seen in Canada.

Striking a most impressive sight rising up from Brandts creek is the Skye highrise part of the Waterscapes development in downtown Kelowna.
The contemporary styled 26 storey residential tower we’ve been informed will be due for completion in early 2010.
The Waterscapes team recently held a “roof topping off” party to mark the latest construction phase.
With sleek glass and concrete design, expansive terraces and floor to ceiling windows, residents will have
some of the most incredible views in all of the Okanagan.

skye Waterscapes - real estate kelowna

A little bit of trivia: The Skye tower will be the tallest building between the lower mainland and Calgary.

Has the glorious weather started to seduce people into wanting that little piece of the good life that is Kelowna living?
Are people starting to buy once again?
According to John Geha President of Coldwell Banker of Canada, “It will be real estate that starts to stimulate the economy.” He also believes that the first time buyers will be the ones to pump the life blood back into the system.
“Real estate is a commodity that will not and cannot disappear,” Geha said during a stop in Kelowna.

“First-timers are still the fuel needed to get the move-up buyer back in the game, but the key is to price smart–price to sell,” says Geha. “If you’re waiting for another price war, it’s not going to happen for a long while.”

If you were hoping to hang on and hedge your bets that you’d find a bargain, it looks like that day isn’t going to come around anytime soon. Although Kelowna isn’t exactly a haven for first time buyers there are a good number of condominium projects coming online which might be the best route for some.

The Kelowna Real Estate market received a welcome boost this week as a new condo development was given the thumbs up by the City of Kelowna. The new building for the South Pandosy district would be a mix of retail, office and residential components.

The proposed six-storey development in the 500 block of Osprey Avenue was endorsed by the members of the city‘s advisory planning commission,“It‘s good to see projects like this still coming along for consideration,” APC chairman Barry Braden. “With everything that‘s going on in the economy, we were wondering what kind of year it was going to be for development. “Hopefully, something like this shows people have confidence in the future.” The proposed building, which city council must still approve, would have ground-floor commercial premises. Plans also show a five-storey office building on the site, as well as a four-storey condominium complex. “It‘s an urban-village concept, combining commercial, retail and residential aspects,” said Tim McLennan of CEI Architecture Planning, which is working on behalf of Dorion Developments. The project has been in the works for several years and will go forward despite the uncertain economy, though its construction, expected to start next year, may occur in phases.

South Pandosy in Kelowna has some wonderful real estate and is one my favorite parts of the city, it has a “village” feel to it with an enviable array of amenities and is situated conveniently alongside the the Okanagan Lake. There are also some other exciting condo developments in Pandosy community such as the new Caban development and a little further to the south the Playa Del Sol. A short distance is the now almost completed H2O Aquatic Centre which will add to the already excellent sporting facilities.

Waterscapes is the latest master planned residential development to be unveiled in Kelowna. Situated at Brandt’s Creek the former railway land will eventually accommodate luxury high rise condos and family homes. This resort like community is being developed by Ledingham McAllister. With a great location just on the fringes of the downtown core and minutes from Okanagan Lake Waterscapes is sure to be a wonderful place to work, rest and play. This part of the downtown will really benefit from the development with a new injection of life.

Waterscapes Kelowna

Your Name (required)
[text* your-name]

Your Email (required)
[email* your-email]

Subject
[text your-subject]

Your Message
[textarea your-message]

[submit "Send"]