Albertan
developers snapping up
B.C. waterfront
properties
Published: Tuesday, August 2, 2007
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.grandcoastalresort.com. 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: Sharleen K. Whiteside, www.WaterfrontWest.com, (250)
703-2267 Copyright 2005
CNW Group Ltd. 2007
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