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The Edmonton Sun, June 24, 2007 Please scroll down for the article.
Ground has broken and construction has commenced on the $75 million Watermark Beach Resort. One of few properties of its kind, Watermark rests along 1,000 ft. of sandy beach on the shoreline of Lake Osoyoos. Over 70% of available Watermark suites were sold in a one-day event early last October, but now that the on-site presentation centre is now open and the final phase of marketing is underway, and the remaining 30% are expected to sell out before the end of the summer. Located in the heart of Canada's premier wine growing region, Watermark is a four-star, four-storey, waterfront resort comprised of 123 whole ownership condominium suites and 30 beachfront residences. It features many amenities, including retail boutique store fronts along Main Street's north/south promenade, an upscale restaurant and patio, an elegant pool-side wine and tapas bar, a health club/spa, and a 150-200 seat convention centre. OTHER LUXURY AMENITIES INCLUDE: - A large .75-acre beachfront amenity area with an 1,800 sq. ft. pool, two hot spa pools, kids' waterslide, and other family amenities - Poolside wine bar - Restaurant - A scenic and professionally developed park pathway - Event space for the town's celebrated festivals, such as the Cherry Fiesta, Christmas Light-up and local wine tour events One of the first luxury resorts to recognize the recreational future of Osoyoos and the South Okanagan, Watermark will create year-round tourism revenue generating opportunities. Often referred to as the "Napa of the North," Osoyoos is nestled in the heart of the south Okanagan on the border with Washington State, and only 400 km from Vancouver. THE SOUTH OKANAGAN BOASTS: - 56% of all BC vineyards - 80% of all BC grape growing - Canada's warmest lake - Canada's only desert - Very hot summers, mild winters - Sandy beaches and recreational trails - An extended golf season - Plentiful fruit orchards Being one of the largest resorts operating in the South Okanagan, and one of the few actually on sandy beachfront, Watermark offers favourable suite pricing and unparalleled value for buyers. Average prices run from the mid $300,000s for a furnished one-bedroom suite to mid $500,000s for a furnished two-bedroom suite overlooking the lake. Unlike many properties available in the Okanagan, Watermark offers buyers innovative revenue generating opportunities. A simple, easy to finance, whole ownership structure makes it convenient for buyers to purchase their vacation home, while having the property managed by the professional hotel management firm, Boutique Hotels & Resorts of British Columbia. This ownership structure combines the benefits of private real estate ownership with an opportunity to generate revenue when the vacation home is in the optional rental pool. James Askew, president of rareEarth Project Marketing, the real estate project marketing group hired to represent Watermark said the ability to purchase premium real estate in such a sought-after location is what makes Watermark a truly unique opportunity. "Having been involved in the creation and sale of over $1 billion of recreational real estate throughout North America, I can say with confidence that well-programmed condominium resort communities, such as Watermark, are an excellent and intelligent way to own recreational real estate." According to Askew, Watermark fulfills the three essential criteria that savvy real estate buyers look for in a property - prime waterfront location, the opportunity to generate revenue to offset ownership costs and luxurious amenities. Ground has been broken, and Watermark Beach Resort is scheduled for completion in 2009. The world-class, four-story property is being built on the site of the old packing house in downtown Osoyoos. The 153-suite resort includes five town-home buildings with six beachfront residences per building (total of 30). For additional information regarding the project, click on the logo: Reprinted from The Edmonton Sun |
