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Media Coverage
Calgary Herald, October 13, 2007 Beachfront lifestyle part of development By Kathy McCormick and Marty Hope Please scroll down for the article.
Beachfront lifestyle part of development Here's some more information about some of the projects and developments available in the Osoyoos area: Indigo Indigo is bringing contemporary flair to the small town of Osoyoos, offering a modern twist to resort living in a seven-storey condo project on the northeastern side of Lake Osoyoos. The beachfront resort features 140 units of 600 to 1,800 square feet, and more than 80 per cent of those will feature unobstructed water views. Balconies will be as large as 1,200 square feet and in the largest units, an outdoor fireplace or gas barbecue will be built-in with rock. Prices range anywhere from $349,900 to $1.4 million. The complex is being developed by the Vancouver-based Kingsway Group of Companies. The site is just less than 1.6 hectares and has 400 feet of sandy beach, one of the last undevelopable freehold pieces of land on that side of the lake. The main focus of the development is the large amount of green space with mature weeping willow trees that were part of the original mansion site. The developer wanted to keep as much of that amenity as possible, so it went with a smaller footprint with a higher density. As a result, the condominium will be the first concrete recreational complex on the lake. The landscaping will be terraced to blend in with the mountainside. The building will be in a U-shape oriented to the water, along with a large courtyard between the units. In keeping with the environmental focus, the project will have geothermal cooling and heating to further minimize the impact on the environment. Amenities will include a pool, two hot tubs, a barbecue area, a fire pit, and dockside access for jet ski and small craft users. A valet boat service, state-of-the-art security, and a professional sports-quality gym designed by NHL veteran Ray Ferraro and B.C. Lions quarterback Dave Dickenson are included in the plans. The developer is also working with one vintner to create a wine specific to Indigo and its owners. The whole project and its finishings are upscale. Look for such things as quartz countertops, stainless steel appliances and wine coolers in units. Launched at the end of September, Indigo had more than 3,000 people registered on its website. They were from throughout Canada, with an emphasis on B.C. and Alberta. The lower mainland has the strongest representation, followed by Calgary, with about 40 per cent of the registrants. Construction is slated to begin this winter, with completion the summer of 2009. For more information, check the website at www.IndigoOnTheLake.com. Mount Baldy A Vancouver developer has proposed another mixed-use resort with as many as 800 units at the north end of Lake Osoyoos, but no details are yet available. Mount Baldy, the area's ski hill, also has some development projects in various stages of planning. Across the U.S. border on the south end of Lake Osoyoos, Veranda Beach is yet another major development currently selling. Watch for details of this project in next Saturday's Recreation and Investment Properties section. Watermark Beach Resort At the heart of a major redevelopment of downtown Osoyoos is this 153-residence beachfront project being built on the site of what was a fruit-packing plant. "We're at the centre of a master plan for the lakeshore of Osoyoos," says Glen Harris, development manager for Osoyoos Shoreline Development Ltd. The complex will include 123 apartments and 30 townhouses built along 1,000 feet of Lake Osoyoos beach. With municipal approvals firmly in place, construction is underway on the two-level underground parkade. Topping that will be 16,000 square feet of retail space on Main Street, and above that will be the 123 condominium apartments. Adjacent to this building will be the 30 townhouses, which will be built in clusters of five or six. The centrepiece of the beach resort will be the extensive pool and patio area covering about 0.3 hectares, along with an 1,800-square-foot pool with waterfall and waterslide, two hot tubs, and a lounge area. There is also a wine bar as well as a communal outdoor barbecue and dining area. Other features include a fitness area and spa, restaurant, movie theatre and a 300-seat conference facility. "Watermark is one of four major projects going on in Osoyoos as part of the Destination Osoyoos project encouraging economic development," says Harris. Other resort developments include Spirit Ridge, Indigo and Walnut Beach. OSDL purchased the property in 2004 after it had sat unused since the packing plant closed down in 1988. The company immediately began work to get the approvals required for the redevelopment of the site. Besides work on the parkade, servicing for the townhouses has been installed and framing is nicely under way. Occupancies are expected to being in May 2009. Harris estimates that the project is about 80-per-cent sold, with Albertans making up about 35 per cent. "But even though they aren't the largest buyer group, Albertans account for as much as 39 per cent of the sales value, so they are a significant part of our market -- something we hadn't expected before this," he says. The majority of buyers are coming from Vancouver and other locations in the Okanagan Valley to get a taste of Canada's only desert region and also to sample some of the area wines. Osoyoos is also becoming a destination location for retirement, investment and second-home properties. "Baby boomers are the real sweet spot here, along with retirees or younger investors looking for the right opportunity," says Harris -- adding that of the 120 sales to date at Watermark, about one-third have been investors. For more information, visit www.OwnWatermark.com
For additional information regarding the project, click on the logo: 
Reprinted from The Calgary Herald |
