Albertan developers snapping up B.C. waterfront properties



    WaterfrontWest.com traffic indicates more choice real estate to become
    resorts

    VANCOUVER, Aug. 2 /CNW/ - Last summer Alberta buyers flocked to British
Columbia's shores to buy homes, but during Summer 2007 the Albertan real
estate investment companies are the ones to watch. Large tracts of choice
water view and waterfront real estate is being earmarked for luxury resorts,
hotels and condominium projects. Traffic, as well as advertising on
WaterfrontWest.com, a web site devoted specifically to waterfront buyers and
sellers, has begun to pick up among Albertan commercial developers and real
estate investment firms, said WaterfrontWest.com President Sharleen K.
Whiteside. "Several groups of Albertan commercial real estate developers are
planning large-scale projects, especially in southern B.C.," she said. "It's
not just individuals looking for lake- and ocean-front homes anymore."
    "The real estate market for waterfront property in B.C. has been hot over
the last few years, especially with the Albertan market," Whiteside said.
"There's no doubt that prices will continue to go up now that investors are
buying up large tracts of land."
    Calgary-based Shire International Real Estate Investments has sold out of
investments shares in two B.C. waterfront projects, according to the firm's
web site, www.shireinvestments.com. The Chemainus Quay & Marina in Vancouver
project will include condominiums, restaurants, shops and a marina. A second
project in Okanagan Falls, Skaha Falls, will develop 60 lakefront condominiums
on Skaha Lake. "These Okanagan condos aren't even built and there is already a
waiting list for buyers," Whiteside said.
    Island Coastal Resorts, also based in Alberta, plans the first of three
resort projects in the Campbell River/Comox Valley area on Vancouver Island,
according to its web site, www.coastinvest.ca. Grand Coastal Resort and Spa
offers fractional shares sales of units as well as full purchases. Another
firm, Arrow Lakes Developments, Ltd. is developing a 131-acre master-planned
community, Galena Shores, on the Upper Arrow Lake in Galena Bay. Investors get
first choice of lakeside home sites. The community will include a waterfront
park and natural forest preserve, according to the developer's web site,
www.aldl.ca.
    "Buyers who have been on the fence will need to act fast if they plan to
secure their waterfront getaway," Whiteside said. "The choicest areas are
going fast despite the rising sales prices."

    Waterfront West is the first and only marketplace dedicated exclusively
to buyers and sellers of waterfront and water view properties in British
Columbia. With a wide array of informative resources and search criteria
designed specifically for our audience, it is the number one resource for the
B.C. waterfront buying community.





For further information:

For further information: Sharleen K. Whiteside, www.WaterfrontWest.com,
(250) 703-2267

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WATERFRONT WEST REAL ESTATE

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