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Watermark Beach Resort Media Coverage Penticton Western News, October 4, 2006. Buyers shell out for shot at Osoyoos resort By Tracy Clark News Staff Reporter A major resort development in Osoyoos is expected to nearly sell out today during a sales blitz in Vancouver. About 80 per cent of the 153 units in the Watermark Beach Resort are expected to be snapped up during a sales selection event at the Pan Pacific Hotel this afternoon, said James Askew, president of rareEarth Project Marketing in Vancouver. Interested buyers - about 60 per cent of which are from Vancouver and 35 per cent are from Alberta - have paid a $5,000 reservation fee that guarantees them a spot at the sales event. The reservation fee allows the sales team to work with people that are most interested in purchasing, said Askew. The majority of prospective buyers, between ages of 39 and 55, are planning on using the condominiums as secondary or vacation homes and rental units. Very few are purchasing the units as a primary residents, said Askew. Units in the four-storey resort range in price from $216,000 for a studio of about 400 square feet to $850,000 for a three bedroom penthouse with a "dramatic view of the lake," he said. The average prices, however, run between $350,000 and $450,000 for furnished one and two-bedroom suites - 85 per cent of which are facing the lake. Much like resorts in Hawaii and Mexico, the Watermark, located on the former packing house site at the foot of Main Street in Osoyoos, is built in a U-shape design facing the beach with a pool and other amenities in the centre. Aside from the private outdoor pool areas, much of the resort's amenities are open to the public, including the 200-seat conference area, retail store fronts, a restaurant and spa and fitness club. It's these additional amenities that ensure the resort is an anchor for Main Street and the community, said Askew. The resort will also feature a promenade walkway that will connect the two sides of Osoyoos, said Askew. Council had requested the walkway, which will also indicate that the beach is still open to the public and not privately owned by the resort. Construction on the new resort - which has undergone third reading by Osoyoos town council - is slated for completion December 2008. This artist's rendering shows the proposed Watermark Beach Resort in Osoyoos, which will go on sale today to prospective buyers who have already paid a $5,000 reservation fee to get a spot at a sales blitz in Vancouver.
Reprinted from Penticton Western News |
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