Construction starting on final phase of $210M Movala towers in Kelowna

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.

Movala is expected to open by the end of 2025 and Skywater about nine months later.

More information is available here.

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