Real Estate Boons in Southern British Columbia



    Small lakeshore town announces $33.9 million in annual construction

    OSOYOOS, BC, June 19 /CNW/ - The South Okanagan town of Osoyoos, known
for its campgrounds and its hot dry summers, is on its way to becoming a
resort destination, with visitor spending projected to double within the next
10 years.
    Three developers with lakeshore property are spending $200 million to
build high-end condominium hotels attracting tourists and investors from
across Canada. Conference accommodation, health spas, restaurants and retail
are part of the makeover.
    In 2006, the construction value in the small community was recorded at
$33.9 million, up from $3 million in 1999.
    "We know summer sun and fun sells itself, this has been our product for
years, and we'll maintain our small town appeal," says Destination Osoyoos
Executive Director Glenn Mandziuk. "But we now know there is a high-yield
visitor who is sophisticated and well traveled. They have investment dollars
to spend and they're looking for an exciting and quality experience. That's
our focus now."
    Mayor John Slater says the town is strongly behind the initiative, which
is also supported by Tourism BC and Osoyoos First Nation, owner of spectacular
Nk'Mip Cellars, Canada's first Aboriginal winery.
    "We still want to maintain our small town appeal," the Mayor explains.
"We want that family feeling of let's go to grandma's house. It's really
important. We also want to make sure that the development we do is positive."

    
    New resort development includes:

    -   Spirit Ridge Vineyard Resort & Spa, built at a cost of more than
        $75 million by Bellstar Hotels & Resorts. The first phase of
        30 villas and 64 suites, including conference facilities, is adjacent
        to the spectacular Nk'Mip Cellars, Canada's first Aboriginal winery.

    -   Watermark Beach Resort, developed by Osoyoos Shoreline Development
        Ltd. at a cost of $65 million, consists of 30 town homes and
        123 units, plus 16,000 sq ft of commercial space, on a 4.3 acre
        lakeshore site formerly occupied by a fruit packing plant.

    -   Walnut Beach Resort, developed by Lakeshore Development Corp. is a
        three storey complex of 112 units on 3.2 acres, being built at a cost
        of $45 million around a half acre landscaped courtyard and pool.
    

    "This won't ever be a big city," says Bellstar Hotels and Resorts Manager
of Real Estate Development Curt Jansen. "I call it the Perfect Storm: limited
land, a great climate, one of the most beautiful settings in Canada, wineries,
golf courses, skiing at Mt. Baldy, and a small town with a lot of character
that has made a decision to stay that way."





For further information:

For further information: Michelle Jefferson, Communications/Media
Relations for Destination Osoyoos, (250) 495-3366 ext. (205), 1-888-OSOYOOS,
mjefferson@osoyoos.ca

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DESTINATION OSOYOOS

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