For instance, the 709-square-foot one-bedroom-with-den condo on the seventh floor with a city view is now $269,900.
And the 1,508-square-foot two-bedroom-with-den penthouse with city, mountain and lake views is down to $1.2 million.
“We’ve made adjustments,” states Mirecki.
“But we didn’t slash prices. We wanted to hold strong because Skye really is the best opportunity to own a spectacular view property in the Okanagan. The inherent value is just as much today as when it was first launched (in boom time 2007).”
Mirecki maintains Skye is legacy real estate. “We were using long-term vision when we decided to build Kelowna’s tallest building,” she points out.
“As a contemporary view property it is second to none. It’s the kind of place that will have grandchildren in the future saying: ‘Thank goodness grandpa had the foresight to buy this place.’ “
All of the amenities for the Waterscape neighbourhood are already complete. That includes a clubhouse with lounge, gym, outdoor pool and hot tubs.
Ledingham McAllister is planning five more low-rise condo buildings for the property, but has no timeline with the current slower market.
Ledingham McAllister is busiest in Vancouver where it has built numerous towers similar to Skye. Thus Skye is touted as bringing the big city and a bit of a Vancouver look and feel to Kelowna.
While CEO Ward McAllister lives in Vancouver, he has several ties to Kelowna.
His father lives in Kelowna and the company built Kelowna’s first big-box store, Costco, in the early 1990s. McAllister has also become a part-time resident of Kelowna by keeping one of the penthouses at Skye for himself.