Sun Peaks townhouse development sells out in just 48 hours | iNFOnews | Thompson-Okanagan's News Source

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Sun Peaks townhouse development sells out in just 48 hours

Image Credit: SUBMITTED/Sun Peaks Resort
January 26, 2021 - 4:10 PM

A new townhouse development at Sun Peaks Resort sold out in the first 48 hours sales opened.

A&T Project Developments is set to start construction on the 40 home project "Altitude" in the spring, but it's too late to get your hands on one.

At a combined sales value of $27 million, the plan did attract 95% of its buyers from within Canada, according to Gary Reed, vice president of sales and marketing at A&T Project Developments.

This emphasizes that Sun Peaks offers "premium recreational property," he says in a press release.

READ MORE: Interior ski resorts see busy real estate sales

"This is a recognition that Sun Peaks Resort is a world class resort," says Darcy L Alexander, vice president and general manager at Sun Peaks Resort. "Guests from Canada are discovering Sun Peaks and increasingly drawn to our high quality four season resort."

The developer estimates the project will inject millions into the local economy, with local trades and suppliers working on the development.

Sun Peaks, along with other small communities in the Thompson-area, saw a rise in housing assessments this year with a 10% average growth at the resort. And Sun Peaks isn't the only Interior mountain resort with a high activity real estate market.

READ MORE: Lower Mainlanders flocking to small Thompson-Okanagan towns

Both Sun Peaks and Big White had a higher than normal sales pattern in the summer of 2020, with a growing amount of people coming from larger centres in the Lower Mainland.

Neither Sotheby's, which brokered sales on the project, nor the developers are surprised with the sell-out at Altitude.

"As Canadians stay closer to home for travel, this product has been very appealing both from a personal use and income-earning perspectives," the report said.

To contact a reporter for this story, email Levi Landry or call 250-819-3723 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.

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News from © iNFOnews, 2021

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