Lake Okanagan Resort, itself, appears not to be for sale but part of its lands are.
Image Credit: MCLrealestate.ca
May 05, 2022 - 7:00 AM
Anyone interested in developing 12.6 acres, or one-quarter of the land connected to Lake Okanagan Resort, can have it for a mere $39.9 million.
A new listing by Sandra Ritchie Howe of Sage Executive Group Real Estate shows photos of the resort buildings, tennis courts and pools.
But it’s unclear just what is for sale.
“The resort is not for sale,” Ritchie Howe said when contacted by iNFOnews.ca.
She would not provide any details when asked if part of the resort was for sale.
“It’s private and I don’t have a listing for the entire resort,” she said. “It’s private. Are you interested in purchasing this? Is that what you’re saying to me? I’m not interesting in speaking to the news reporters.”
The listing is for Lot 4, Westside Road. The resort address is 2751 Westside Road and identified on some Regional District of Central Okanagan documents as Lot 1.
There is a land use contract dating back to the 1970s on 50.26 acres that allows up to 500 units, of which 217 have been built.
“Fabulous 220 units as townhomes/condos/multi-family residential development opportunity,” the listing says. “This property is on the Okanagan lakeshore hillside of Lake Okanagan Resort offering spectacular lake views. Seller would consider joint venture.”
Image Credit: MCLrealestate.ca
In March, when iNFOnews.ca visited the resort there was a real estate sign with Ritchie Howe’s name on it saying a 12-room hotel building was for sale. When contacted at that time she said it was not for sale.
Last month, iNFOnews.ca interviewed Constantine Nip, the general manager of Lake Okanagan Resort, at the site.
He talked about plans by the company to revitalize the resort and talked about the need to develop more units in order to improve the resort’s revenue stream.
READ MORE: Trying to make Lake Okanagan Resort exciting again
But, when contacted again by iNFOnews.ca today, May 4, he had no details to share about the listing.
“I don’t have any answers off the top of my head,” Nip said. “Unfortunately, I don’t have information I can share with you.”
In 2019, before Nip’s time, the resort applied to the regional district to build 14 duplex units on an area of the property that was not listed in the land use contract as future development lands.
It was rejected.
READ MORE: Decaying Lake Okanagan Resort loses chance for rebirth
The resort has its own water and septic system.
The listing says a developer will have to discuss water and sewer with the resort in terms of updating or improving them in order to increase the number of units or to build new ones.
This shows two darker areas of development, on the left, that are marked as completed. The third area, near the middle, is marked as ongoing, and the rest of the darker area is marked as future phases.
Image Credit: MCLrealestate.ca
At least one of the larger buildings on the resort is connected to a portable sewer system. Nip said that building is under the control of a strata council and not the Lake Okanagan Resort company.
READ MORE: Lake Okanagan Resort: Rapid decay and glory days
There are five strata councils at the resort, some privately owned homes, time share units and Lake Okanagan Resort has some units.
Nip, when interviewed in April, could not say how many units the company owned.
The listing can be seen on Ritchie Howe’s website, here.
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