August 7, 2012
The Water’s Edge condos make most of great Kelowna location
THE WATER’S EDGE
Location: Okanagan Mission
Residence size: Phase 1, 64 condominium units in 28 floor plans, ready for occupancy; 60 per cent sold.
Current price range: $355,900 to $1,450,900.
Developer: MKS Resources
Architect: Garry Tomporowski
Interiors: Norelco Cabinets, Dannburg Interiors, Tubello Stoneworks, Lights Plus
Sales centre address: 3865 Truswell Rd., Kelowna
Hours: Mon. through Sat. 11 a.m. to 5 p.m.; Sundays & holidays 12 to 4 p.m.
Occupancy date: Now ready
BY STEVEN THRENDYLE
Kelowna’s Okanagan Mission neighbourhood takes its name from the Catholic residence occupied by Father Pandosy in 1859. The Mission, though, encompasses a far greater area than simply the historic site, and has lent its name to a vast array of geographic and civic place names, as well as commercial enterprises. Mission Creek is the name of the largest river that flows through the central Okanagan, which empties in to the lake adjacent to The Water’s Edge, one of Kelowna’s newest real estate projects.
Local developer Steve Shoranick took his time in acquiring the four parcels of land needed to build The Water’s Edge. It wasn’t an easy decision to continue with the project when ground was broken, due to the fact that its timing concluded with an economic recession that has created a glut of second and retirement homes on the market. However, as of midsummer, The Water’s Edge is more than 60 per cent sold, an enviable percentage in today’s market, and the reason for its success is partly based on location, but more on the reputation for build quality and design that Shoranick brings to his projects.
Chris Greenway worked for the city of Kelowna as a building plans examiner and has seen first-hand several of Shoranick’s projects. “Being close to retirement I wanted to buy a condo from a developer with integrity, reliability and honesty—someone who has been involved in the community and has a good name,” said Greenway. “Steve is very proud of what he builds and will try to please his customers. Location and quality of construction were important to us.”
Greenway adds, “It is probably the best location in Kelowna—within a stone’s throw of houses worth $3.5 million.” Greenway and his wife Brenda purchased a 1,678-square-foot unit configured with two bedrooms and a den. They like the airy spaciousness of the nine-foot ceiling and the angle of the unit that lets in plenty of light, since the windows are at different planes throughout the unit. Indeed, as The Water’s Edge sales manager Bonnie Kaumann says, “this is anything but a cookie cutter box-size development. There are 28 different floor plans in a building which only contains 64 units.”
Greenway continues: “The floors have superior soundproofing, well above the code requirements. This building is far superior to other wood-frame condos. The building has a sprinkler system including sprinklers on the balcony, which is where many condo fires start because there are no sprinklers. Each unit has its own magic pack (forced air furnace/air conditioning unit) so that heated air or air conditioning is supplied through ductwork to each room just like in a house.”
Similar thoughts about reputation and location are echoed by Kelly and Colleen Preston, longtime Kelowna residents with experience in investing in Okanagan rental properties. “We were so happy dealing with Steve and Bonnie (Shoranick) that we decided to invest in two condos at Hollywood Station. Our son and one of our daughters moved in there and rented for a while. We have now had it rented for a couple of years. It is in a great neighbourhood with all the amenities close by.”
As for The Water’s Edge, “We felt we could not go wrong with buying into this project. Again, Steve definitely picks good areas to build in. We have not even considered any other developments. We put a deposit down in 2008 and stuck through the economy and waited for The Water’s Edge to be built. Bonnie has always been so wonderful to deal with. She has become a friend and we feel so comfortable dealing with her.” The Prestons are renting out their unit, but can see themselves living there at some point. “There are great restaurants within walking distance, you can walk to a coffee shop or walk and get a few groceries. It is so great that is right across the street from the lake.”
Special to The Sun