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Naramata Benchland Properties Media Coverage Edmonton Journal, November 04, 2006 Image Credit: Edmonton Journal Okanagan 'playground' still a hot draw for Albertans By Marty Hope and Kathy MCcormick There are little gems throughout the Okanagan -- towns nestled just around the corners of the larger centres of Kelowna and Peachland. And it is in these gems that some beautiful recreation and investment projects are being planned. For example, there's a spot above the historic village of Naramata where a set of weather-beaten wooden steps leads to a flat rock. From that rock, you can see from Penticton clear to Peachland. This spot happens to be one of the more sought-after building sites in the Stonebrook phase of The Benchlands, Naramata, developed by Naramata Benchland Properties, a partnership of Locations West Investment Group and T&M Management Services Ltd. Not surprising that this particular lot was one of nine estate lots sold during a VIP sales event last weekend to release 34 lots in the first phase of 44 lots located outside of Penticton in an area dotted with vineyards, wineries and orchards. In all, more than $3 million worth of building lots measuring one-half to two acres in size were sold, with Albertans accounting for two-thirds of the buyers. Sale prices ranged from $419,000 to $459,000. The Benchlands, Naramata is one of several projects in smaller centres in the Okanagan Valley that is attracting buyers from all over Alberta. Alberta money is also finding its way to developments in Summerland, Peachland, Westbank and Lake Country. "For the Calgary market, the Okanagan has always been a playground and we've concentrated a fair amount of our marketing there," says Randy Kowalchuk, a partner in Locations West. "And while the market here has cooled a bit, Albertans are still enjoying good times and are looking to purchase property for recreational and retirement use -- although we did have a couple of sales for primary residences." Robin Agur, another partner in Locations West, was surprised by the demand for the premium-priced lots. "We had a hunch that creating expansive homesites where one could build a luxurious retreat or estate home surrounded by parks, wildlife reserves and vineyards would be appealing -- and these initial sales confirm that," says Agur. Ultimately, there could be as many as 300 lots along the benchlands that climb from Okanagan Lake past the vineyards and into the stands of trees some 1,500 feet up. Kowalchuk expects to begin residential construction next year. Additional information is available at www/naramatabenchlands.com. Agur is also a partner in the development of the 1,000-acre Summerland Hills Golf Resort in Summerland that will include about 1,100 single-family homes and another 650 cottages, town houses, apartment condos and a condominium hotel. "We're creating a lifecycle community," says Agur, whose great-great-grandfather was the second mayor of this town just north of Penticton. "People can buy their first home here and then find something more suitable for them when they retire." Houses will be built around an 18-hole championship golf course designed by Kyle Phillips or on a nine-hole par-three course. "We hope to be in the ground with golf course and home construction in 2007 -- but this is a 20-year project," says Agur, who has partnered with Brandenburg Properties of San Jose, California in this development . For more information visit www.summerlandhillsgolfresort.ca Nestled on a narrow strip of waterfront land between Highway 97 and Lake Okanagan near Peachland and set alongside a maturing vineyard, Greata Ranch Vineyard Estates is a 425-home development by Cedar Creek Estate Winery and Concord Pacific Group. Of the 44 hectares, about 16 will be developed for housing and amenities while the rest will remain vineyard. Detached homes and condos will be priced between $300,000 and $2 million. For more information visit www.GreataRanch.com. LakeStone in Lake Country was officially launched in August by the 20/20 Group out of Vancouver and is expected to generate more than $1.5 billion in economic activity. The 500 acres sit on Lake Okanagan waterfront, and the project will feature a signature golf course, marina, vineyards and luxury homes, making it the largest residential resort community ever built in the Okanagan area. "Our interest in the Okanagan has been lifelong," says John Murphy, chief executive officer of 20/20 Group. "I grew up spending summers here." The group started researching the area in 2000. "It's the Number 1 resort area with a number of fundamentals that make it work," says Murphy. "It has the lifestyle, the lake, the climate, the golf courses, and the wine." Add on the fact that it has the infrastructure to back it up, including regional health care, and it's a "home run," he says. The company's first venture in the area, the 460-unit La Casa on the Lake, is selling quickly as well. The first phase of LakeStone will have a limited number of luxury vineyard villa homes and lakeside and waterfront lots. The villas will range from 1,434 to 2,900 square feet, with prices from $700,000 and up. The lake lots will be from $550,000 to more than $1.5 million. For more information, check the website at www.LakeStoneresort.com. Renascence Developments has several projects in the works in and around Kelowna. The company was started by Larry Kelly, formerly an executive with Pointe of View and Statesman Corporation in Calgary who retired to Kelowna last year. The developer now has five projects in the Kelowna area, as well as two in Calgary. Two of the B.C. projects are in the outlying Westbank and Lake Country areas outside Kelowna. Wood Lake Resort is a 12-acre site that sits at ground level on the five-kilometre lake that empties into Kalamalka Lake between Vernon and Kelowna in Lake Country. The development has 250 feet of beach, including an 80-space marina. "We're looking at 500 to 525 units, an international spa, and two restaurants," says Kelly. "It will be four star at least. It's one of the only developable parcels on the beach in Lake Country." Another project sits atop the hill overlooking Shannon Lake in Westbank. "It will be a semi-resort next to a golf course and overlooking one of the best large mouth bass fishing lakes in the interior," says Kelly. Look for approximately 208 units in a combination of 56 townhouses and three condo apartment buildings. Check the website at www.renascencedevelopments.com. Medican's projects include Sitara on the Pond in The Lakes in Lake Country, and two new projects in the area. Sitara on the Pond consists of 120 units from the low $200,000s to the $350,000s that wind around a natural pond on the site. The next project will be four towers of 700 units overlooking Shannon Lake in Westbank, and another site has just been purchased above Sitara on the Pond with views of the pond and Wood Lake from various vantage points. Check websites at www.medican.com-/lifestyles and at www.renascencedevelopments.com.
Reprinted from Edmonton Journal To subscribe to Edmonton Journal on line, click here For additional details regarding the project, -click here-
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