Development of New Resort Community in South Okanagan Bucks Economic Trends
Canyon Desert Golf Resort is a partnership between Osoyoos Indian Band, Bellstar Resorts and Waterma
For Immediate Release
Oliver, BC. May 12, 2009: Bellstar Hotels & Resorts, the Osoyoos Indian Band and Watermark Asset Management continue to see a resort development opportunity in the South Okanagan where others are cautious. The group of experienced developers announced today that they will pursue jointly developing Canyon Desert Golf Resort, a $150-million destination resort community in Oliver, British Columbia. Located on NK'MIP Canyon Desert Golf Course and the shores of Tuc el Nuit Lake, the destination will offer 450 golf and lakefront condominiums, villas and resort lodge suites along with a host of mixed amenities.
Canyon Desert Golf Resort will be the first destination resort of its kind to be built in the Oliver area.
The resort community, subject to a favorable Band vote, will be developed on Osoyoos Indian Band lands on Tuc el Nuit Lake and nestled between the fairways of Nk'Mip Canyon Desert Golf Club. It will be surrounded by a 40-acre vineyard, 18-hole golf course, beach club and waterfront amenities, and will include a full-service spa, a 250-seat conference facility and other recreation facilities. The Oliver area is home to more than 50 great wineries, so the resort experience will focus on showcasing Okanagan wine and cuisine. The destination will include a restaurant and bar, wine and culinary programs including a wine cave to be used for private functions, and a vineyard celebration green for private functions.
The Bellstar-managed resort hotel will be available for nightly-rentals, while condominium and villa owners in all other Phases will have the option to participate in a vacation rental program.
Chief Clarence Louie notes, "The Osoyoos Indian Band has aspired to develop the lands adjacent to our golf course since we completed Nk'Mip Canyon Desert Golf Course in 2000. This will be a very positive development for the Band, our partners and the region."
"The BC marketplace is very dynamic. These changing conditions create opportunities for development partnerships such as ours, that are well positioned with great sites, experiential visions, well-planned projects and access to capital," says Jon Zwickel, Bellstar's Executive Vice President. "In recent years, developments in BC have targeted the luxury market. Our project has the unique ability to deliver a diverse, exceptionally well-planned, mid-market offering of waterfront townhomes, golf-front condominiums and hotel suites in an integrated resort environment."
"The Town of Oliver Council congratulates Chief Clarence Louie, the Osoyoos Indian Band, Bellstar and Watermark on launching Canyon Desert Resort," says Oliver Mayor Pat Hampson. "This project will create much needed jobs in our community and attract visitors to the area to support the local economy. We look forward to continuing our great relationship with Chief Clarence, the Band and want to welcome Bellstar and Watermark to Oliver."
Subject to an Osoyoos Indian Band Land Use Designation Vote in the summer of 2009, real estate sales could commence in the spring of 2010, with development starting soon after. The first phase of the development should be completed by the fall of 2011.
Purchasers are expected to come from Metro-Vancouver, Alberta and the prairies. Canyon Desert will offer attractive pricing in both fractional and whole ownership opportunities.
For more information on Canyon Desert Golf Resort http://www.canyondesertresort.com
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About Bellstar Hotels & Resorts
Bellstar Hotels & Resorts is the leading resort developer and operator in Western Canada http://www.bellstar.ca
About Osoyoos Indian Band Development Corporation (O.I.B.D.C.)
O.I.B.D.C. is a leading business corporation in the South Okanagan with interests in construction, vineyards, wineries, retail, recreation and resort tourism opportunities. For more info http://www.oib.ca
About Watermark Asset Management
Watermark Asset Management was established to develop and build signature resort projects in British Columbia to satisfy the growing demand for both recreational and retirement properties.
Media Contact:
Jessica Harcombe Fleming
Communications Manager
Bellstar Hotels & Resorts
P: 403.695.3453
C: 403.969.8703
W: http://www.bellstar.ca/media/
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