Major Four-Tower Development Approved: The Vintage at Waterscapes Coming to Downtown Kelowna

Kelowna Real Estate News | April 2025

Downtown Kelowna's skyline is about to reach new heights. Vancouver-based developer Ledingham McAllister (LedMac) has submitted its development permit for The Vintage at Waterscapes—a four-tower, master-planned community that promises to bring over 1,100 new homes to the heart of Kelowna’s urban core.

This landmark development follows Kelowna City Council’s approval of rezoning in July 2023 and marks the long-anticipated Phase Two of Waterscapes, located at 1070 Ellis Street—just steps from Prospera Place, the lakefront, and existing Waterscapes residences.

🔑 Quick Facts: The Vintage at Waterscapes

  • 📍 Location: 1070 Ellis Street, Downtown Kelowna

  • 🏙️ Towers: Four towers ranging from 28 to 36 storeys

  • 🏘️ Units: 1,141 total homes (1,101 strata, 40 rental)

  • 🚗 Parking: 1,366 vehicle stalls, 1,142 bike stalls

  • 📐 Density (FSR): 5.38

  • 🏗️ Construction: Two phases – South towers first

📈 Why This Project Matters for Kelowna Real Estate

As Kelowna’s population is expected to grow by 45,000+ residents by 2040, this kind of high-density development is essential. The Vintage at Waterscapes reflects the city’s push toward sustainable urban growth—minimizing sprawl and protecting agricultural lands by building up, not out.

These new downtown Kelowna condos will appeal to both investors and homebuyers seeking walkable, amenity-rich living in one of Canada’s fastest-growing cities.

🏗️ Towers Designed to Shape the City Skyline

Each tower has been carefully positioned to complement the surrounding architecture:

  • Tower 1 (36 storeys): Southwest corner

  • Tower 2 (34 storeys): Southeast

  • Tower 3 (32 storeys): Northwest

  • Tower 4 (28 storeys + rentals): Northeast

This tiered layout is intended to blend naturally into the backdrop of Knox Mountain and follow city planning guidelines for Kelowna’s Urban Centre hierarchy.

🧠 Thoughtful Urban Design

LedMac has emphasized public realm enhancements:

  • A water feature at Ellis Street & Gaston Avenue

  • A new road connecting to Phase One

  • Focus on bike infrastructure and community connectivity

These design elements aim to create not just a condo complex, but a vibrant downtown Kelowna neighbourhood.

🏡 Investing in Downtown Kelowna's Future

For those interested in Kelowna pre-construction opportunities, The Vintage at Waterscapes is one to watch. With over a thousand homes coming to market, it’s a key part of Kelowna’s transformation into a world-class urban centre.

Whether you're an investor, first-time buyer, or looking to move up in the Kelowna condo market, this project signals a new era for real estate in Kelowna.

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