Village Walk takes a central spot at Sun Peaks
CLAIRE YOUNG
The Vancouver Sun
You carry a lot of expectations as the first new development in almost a decade in a recreational property market.
Village Walk, which launched sales the end of last year in the four-season mountain town of Sun Peaks, has had no problem meeting them.
The 24-unit, luxury townhome development in British Columbia’s Thompson Okanagan region has already sold more than 75 per cent of the residences, and Sotheby’s Realty managing broker Liz Forster expects all will be sold “soon.”
The project will sit in the centre of the intimate ski-in-ski-out village in one of Canada’s largest ski areas with 1,728 hectares across three skiable peaks (Tod, Sundance, and Morrisey).
And while ski season is its biggest attraction, Sun Peaks also has a championship golf course (B.C.’s highest at an elevation of 1,200 metres), along with hiking and biking trails (40 of them), and a popular Alpine Blossom Festival that draws around 4,000 nature lovers and photographers each July.
Forster says over the past year, 84 per cent of residential buyers have been Canadian with the majority of those coming from other parts of B.C. and about six per cent from Alberta.
And some of those B.C. buyers are selling properties in Vancouver’s pricey Whistler/Blackcomb resort and taking the profits to buy in the less congested Sun Peaks village.
“I have a lot of people say Sun Peaks is what Whistler was 25 years ago,” Forster says.
Village Walk has seen a wide variety of purchasers, from first-time homebuyers to young families to active retirees.
“Multi-generational families gather at Sun Peaks for healthy, happy experiences. There is that real connection to nature,” Forster says.
There are about 1,500 residential units currently in the village — most part of a rental pool for visitors — and new units have not been built for some time.
“The downturn in 2008 affected recreational property in general, with some properties losing as much as 50 per cent in value. Prices here have rebounded back to 2007 levels. There is a new energy here; the feeling we have turned the corner,” Forster says.
In fact, Sun Peaks is the fastest growing community in British Columbia, according to the latest census. It grew to 615 full-time residents — which can obviously triple in peak season — a 66 per cent jump from 2011. It is expected to increase to more than 1,000 residents by the next census.
Village Walk sits in the centre of the village, across from the sports centre, and Forster says residents can walk to all village amenities in less than five minutes.
Buyers are able to fly into the region (Kamloops Airport) and don’t need a car when they are in the village.
“It is a good rental property for the same reason; you are close to everything.”
The units, at 2,400 square feet each over three levels, are large enough to gather friends and family, and Forster says it is larger homes in the Sun Peaks area that usually have the most demand.
Village Walk homes will have 12-foot ceilings, expansive windows front and back, and a gas fireplace with stone surround in the living room plus hardwood floors, and an open concept kitchen with quartz countertops.
Each unit has three bedrooms (plus basement flex room) and three-and-a-half bathrooms (including a basement three-piece bathroom with walk-in shower). The master bedroom includes a walk-in closet, balcony, and an ensuite with two separate sinks, a walk-in shower and a freestanding tub.
The extra-large garage has a workshop/ski tuning area, and lock-up storage. Exteriors include engineered stone, cedar shingles and rustic timbers with large outdoor patios and decks with hot tub and gas barbecue hook-ups.
There will be seven buildings in the project, made up of duplexes and three- and fourplexes. The first building is already under construction and will be ready for this ski season, in November. The second and third buildings are about a year from completion.
PROJECT: Village Walk, a 24-unit luxury townhome development
AREA: Sun Peaks mountain village, 56 kilometres from Kamloops, B.C.
WHAT’S AVAILABLE: There are five units left in the development, ranging in price from $689,900 to $709,900. The units are 2,400-square-foot, three-level townhomes with three bedrooms, two-and-a-half baths, with an additional flex room and three-piece bathroom in the basement.
DEVELOPER: A&T Project Developments Inc. of Kamloops
INFORMATION: www.villagewalksp.com
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