The Madison Kelowna: Boutique Luxury Living in the Cultural District
The Madison at 1395 Ellis Street is one of downtown Kelowna’s most recognizable boutique luxury condo buildings. Located in the heart of the Cultural District, this 15-storey concrete residence offers larger floor plans, lake and city views, secure underground parking, and a quieter, more private feel than many newer high-density downtown towers.
For buyers who want walkability, space, and a more established luxury building, The Madison deserves serious attention.
This is not just a condo tower. It is a downtown lifestyle play.
Link: https://sellingokanagangroup.com/home-search/listings/the-madison
QUICK STATS TABLE
| Feature | The Madison |
|---|---|
| Building Name | The Madison |
| Address | 1395 Ellis Street, Kelowna, BC |
| Neighbourhood | Kelowna North / Downtown Cultural District |
| Year Built | 2009 |
| Storeys | 15 |
| Residences | Commonly reported as 57 residences |
| Construction | Concrete / steel-frame high-rise construction |
| Parking | Secure underground parking |
| Typical Buyer | Luxury downsizer, executive buyer, lock-and-leave owner, downtown lifestyle buyer |
| Rental Profile | Long-term rental potential should be reviewed with current strata documents |
| STR Status | Not currently safe to assume as a short-term rental investment; verify zoning, City licence rules, and strata bylaws before relying on STR income |
Why Buyers Look at The Madison
The Madison is for a specific type of Kelowna buyer.
It is not the flashiest new tower downtown. It is not a resort-style short-term rental building. It is not a small investor micro-suite product.
Its value is different.
The Madison appeals to buyers who want more space, concrete construction, lake and city views, privacy, secure parking, and a walkable downtown Kelowna lifestyle without feeling like they are living in a high-turnover building.
Many newer downtown condos are smaller and more investor-driven. The Madison feels more like a luxury residence in the sky.
That matters.
For downsizers coming from a larger home, The Madison can feel like a better transition because many floor plans offer generous living areas, real dining space, large bedrooms, storage, and outdoor deck space.
For executive buyers, it offers downtown convenience without giving up comfort.
For investors, the thesis is more nuanced. This is likely a premium long-term rental or capital-preservation hold, not a simple Airbnb yield play.
BUILDING AUTHORITY SECTION
The Madison Building Overview
The Madison is located at 1395 Ellis Street in downtown Kelowna, just steps from the Cultural District, Prospera Place, Kelowna Community Theatre, the waterfront, restaurants, cafes, and the lakefront boardwalk.
The building is known for:
| Feature | Why It Matters |
| Concrete construction | Better sound separation and long-term durability than many wood-frame buildings |
| Boutique scale | Fewer residences than many large downtown towers |
| Larger floor plans | Better suited for downsizers, professionals, and luxury buyers |
| Secure underground parking | Important for lock-and-leave owners and downtown living |
| Fitness room | Convenient daily wellness amenity |
| Building manager / managed building feel | Adds comfort for owners who value service and building oversight |
| Bike storage | Useful for downtown and waterfront lifestyle buyers |
| Pet restrictions | Pet-friendly potential, but buyers must verify size and number limits in current bylaws |
| EV charging improvements | Some public listing remarks reference EV charging upgrades; buyers should confirm current stall capability and strata approval process |
RESIDENT LIFESTYLE SECTION
Living at The Madison is about convenience without giving up comfort.
You can walk to dinner, the lake, concerts, coffee, galleries, the yacht club, and the boardwalk — then come home to a quieter, more private building with larger suites than many newer downtown projects.
Best Lifestyle Fit
The Madison is strongest for:
| Buyer Type | Why It Works |
| Luxury downsizers | Larger floor plans make the move from a house easier |
| Empty nesters | Walkable lifestyle without yard maintenance |
| Executive buyers | Downtown access, secure parking, lock-and-leave convenience |
| Lake lifestyle buyers | Close to the waterfront, marina, boardwalk, restaurants, and entertainment |
| Long-term investors | Premium downtown rental demand, but numbers must be tested carefully |
| Part-time Kelowna owners | Secure, central, low-maintenance ownership |
Lifestyle Highlights
- Walk to Okanagan Lake and the downtown waterfront
- Close to Kelowna Yacht Club
- Near Prospera Place and Kelowna Community Theatre
- Steps to restaurants, cafes, breweries, galleries, and cultural venues
- Secure underground parking
- Large decks and view-oriented layouts in many units
- More residential and private than many high-turnover investor buildings
2026 INVESTOR THESIS
The Madison should not be treated like a basic cash-flow condo.
It is a premium downtown Kelowna asset. The investment case is more about scarcity, location, large floor plans, lifestyle demand, and long-term ownership quality.
The Main Investment Drivers
| Driver | Investor Impact |
| Larger luxury floor plans | Easier to attract executive tenants or downsizing buyers on resale |
| Downtown Cultural District location | Strong lifestyle demand and walkability |
| Concrete construction | Better long-term appeal for buyers wanting quiet and durability |
| Limited boutique supply | Fewer comparable luxury units than larger towers |
| Lake/city/mountain views | View quality can create major value differences between units |
| Secure parking | Important for high-end buyers and tenants |
| Established building | Less construction uncertainty than presale product |
Long-Term Rental Potential
Long-term rental potential may be strong for the right unit, especially larger 2-bedroom plus den or 3-bedroom layouts.
However, investors should not use a generic downtown rent number. The Madison has larger suites than many downtown condos, so rent should be modelled based on:
- Unit size
- View quality
- Parking stalls
- Storage
- Floor height
- Renovation level
- Furnishing quality
- Lease term
- Whether the tenant is executive, relocation, seasonal, or standard long-term
Short-Term Rental / Airbnb Potential in 2026
This is where buyers need to be careful.
Kelowna’s 2026 short-term rental rules changed, but that does not mean every downtown condo can now operate as an Airbnb.
As of the latest public City of Kelowna guidance, principal-use short-term rentals are only permitted in eligible properties that have been approved for the STR subzone. The Madison at 1395 Ellis Street is not currently on the City’s published eligible STR property list.
That means buyers should treat short-term rental income at The Madison as unconfirmed unless verified through all three layers:
- City of Kelowna zoning and business licensing
- Provincial short-term rental registration rules
- The Madison strata bylaws and Form B documents
Investor Positioning
Best investor fit:
Long-term luxury rental hold, executive rental, part-time owner use, or future resale to a lifestyle buyer.
Highest-risk assumption:
Buying at The Madison based only on projected Airbnb income.
Smart buyer move:
Underwrite the property using long-term rental numbers first. Treat STR income as upside only if it is confirmed in writing.
What Is Within a 15-Minute Walk of The Madison?
The Madison sits in one of Kelowna’s most walkable downtown locations. Within roughly 15 minutes on foot, residents can access many of the city’s best lifestyle amenities.
Lake, Parks, and Waterfront
| Amenity | Lifestyle Benefit |
| Okanagan Lake Waterfront | Daily walking, lake access, views, and summer lifestyle |
| Downtown Boardwalk | One of the best walkable features in Kelowna |
| Tugboat Beach | Beach access close to downtown |
| Waterfront Park | Festivals, lakefront walks, green space |
| Stuart Park | Skating in winter, events, waterfront gathering space |
| Kelowna Yacht Club | Marina lifestyle, dining, boating culture |
Dining, Coffee, and Entertainment
| Amenity | Lifestyle Benefit |
| Prospera Place | Concerts, events, Kelowna Rockets games |
| Kelowna Community Theatre | Live performances and arts events |
| Rotary Centre for the Arts | Classes, performances, galleries, and cultural programming |
| Kelowna Art Gallery | Downtown arts and exhibitions |
| Downtown restaurants | Fine dining, casual dining, patios, and wine-focused food culture |
| Cafes and bakeries | Strong everyday walkability for residents |
Transit and Connectivity
| Amenity | Lifestyle Benefit |
| Queensway Transit Exchange | Key downtown transit connection |
| Downtown bike routes | Easier access to lakefront, North End, and downtown amenities |
| Secure bike storage in building | Helps support car-light downtown living |
Schools and Education Notes
The Madison is primarily a luxury downtown condo building and is not usually purchased as a school-catchment-first family property.
Nearby school options should always be verified directly with School District 23 or the specific independent school before purchase. Nearby schools often referenced in public property data include St. Joseph Elementary, Bankhead Elementary, Kelowna Secondary, and KLO Middle School, though walkability and catchment eligibility vary.
BUYER FIT SECTION
Who Should Buy at The Madison?
The Madison is a strong fit if you want:
- A larger downtown condo
- A quieter concrete building
- A luxury lock-and-leave lifestyle
- Walkability to the lake and Cultural District
- Secure underground parking
- A more established building
- A residence that feels more like a home than a compact condo
The Madison may not be the best fit if you want:
- A brand-new building
- Resort-style amenities like a pool
- Guaranteed Airbnb income
- The lowest possible strata fee
- A small entry-level investment condo
- A high-density investor tower with many rental-focused units
BUYER DUE DILIGENCE SECTION
What to Review Before Buying at The Madison
Before writing an offer at The Madison, buyers should review:
| Document / Item | Why It Matters |
| Form B | Confirms strata fees, parking, storage, rental disclosures, and key building information |
| Current bylaws | Confirms pet rules, rental rules, smoking rules, renovation rules, and short-term rental restrictions |
| Depreciation report | Shows long-term building maintenance planning |
| AGM / SGM minutes | Reveals upcoming levies, building issues, votes, and owner concerns |
| Council minutes | Shows current building operations and recurring issues |
| Insurance certificate | Important for deductibles and coverage |
| Financial statements | Helps assess contingency reserve health |
| Parking stall assignment | Important value driver downtown |
| Storage locker assignment | Adds convenience and resale value |
| EV charging status | Confirm whether the unit stall is EV-ready, EV-capable, or requires strata approval |
| STR eligibility | Do not assume Airbnb is permitted without written confirmation |
The Madison Kelowna FAQ
Is The Madison in Kelowna a luxury condo building?
Yes. The Madison is widely viewed as one of downtown Kelowna’s boutique luxury condo buildings because of its larger floor plans, concrete construction, secure parking, lake and city views, and Cultural District location.
Where is The Madison in Kelowna?
The Madison is located at 1395 Ellis Street in downtown Kelowna, near the Cultural District, Prospera Place, Kelowna Community Theatre, the waterfront, and the Kelowna Yacht Club.
Are pets allowed at The Madison Kelowna?
Pets may be allowed with restrictions, but buyers should verify the current strata bylaws before purchasing. Public building data has referenced limits on the number and combined weight of dogs and/or cats.
Can I Airbnb a condo at The Madison in 2026?
Do not assume that short-term rentals are allowed at The Madison. Kelowna’s 2026 rules permit principal-use STRs only in eligible STR-subzoned properties. The Madison is not currently shown on the City’s published eligible property list, so buyers must verify City zoning, licensing, provincial registration, and strata bylaws before relying on STR income.
Is The Madison a good investment?
The Madison may be a good investment for buyers focused on long-term luxury rental demand, downtown scarcity, lifestyle resale value, and larger floor plans. It is less suitable for buyers who need guaranteed short-term rental income or high cash-flow returns from day one.
Does The Madison have EV charging?
Some public listing remarks reference EV charging improvements or future EV charging access. Buyers should confirm the current status of EV charging directly through the Form B, strata documents, and parking stall records.
MARK COONS AUTHORITY SECTION
Get Local Guidance Before Buying at The Madison
Buying in a luxury downtown Kelowna building is not just about finding the right view.
You need to understand the building, the strata documents, the rental rules, the parking value, the view premium, the renovation level, and how The Madison compares to other downtown condo options like One Water Street, 1151 Sunset, ELLA, Brooklyn, Water Street by the Park, and other Kelowna North towers.
That is where local guidance matters.
Mark Coons and Selling Okanagan Group help buyers compare the real numbers behind each building so they can understand value, risk, and opportunity before making a decision.
Mark Coons Personal Real Estate Corporation, BBA, CE
Team Lead, Selling Okanagan Group
eXp Realty Kelowna
Tel: 778-744-0872
Email: [email protected]
Relocated to Kelowna in 2018. Helping buyers, sellers, investors, and developers make smarter real estate decisions across Kelowna and the Okanagan.