An exclusive mountain community above Whistler's Creekside neighbourhood, owned by Intrawest, has been snapped up by a local private investor who plans to lend a green tinge to the neighbourhood.
Ecoasis Properties Ltd. bought Kadenwood, a ski-in-ski-out community launched by Intrawest in the fall of 2001, at the end of September for an undisclosed amount. It's one of several assets Intrawest has sought to sell as part of a corporate restructuring aimed at paying down its debt.
Last month, a long-awaited gondola to the exclusive subdivision was commissioned, heralding a new era for the development.
"[The gondola] tops off the ultimate enclave in North America's top-rated ski resort," Keith McIvor, vice-president of sales for Ecoasis, said in a statement.
The gondola is for the exclusive use of residents and guests of Kadenwood, which claims bragging rights as Canada's only ski-in-ski-out resort community directly accessible by a gondola. Developed by Doppelmayr Garaventa Group at a cost of $3.5 million, the gondola rises 710 vertical feet on a 25 per cent slope.
The gondola didn't come without a fight, however.
Kadenwood residents took Intrawest to court to secure the lift, which was part of the original rezoning application Intrawest presented to local councillors, including Ken Melamed, now Whistler's mayor.
"Intrawest was going to do a number of amenities, including trails, a park, a playground," Melamed said. "There was some ski-in-ski-out potential, and this lift. It's been a bit of a challenge to watch the time it's taken for the gondola to be built."
The lift's completion is a positive sign for the community, and Melamed said preliminary discussions with Ecoasis representatives indicate the company plans to highlight the environmental qualities of Kadenwood's final phase when it launches in early 2011.
Two phases totalling 40 lots were released prior to the downturn that hit real estate markets in late 2008, but just 18 have been developed. More homes are in the works, however, and realtor John Ryan of Whistler Real Estate Co. Ltd. believes the gondola will generate interest as Kadenwood grows to a critical mass of residences.
"The gondola pretty well separates us from any neighbourhood in North America in terms of ski resorts," Ryan said. "It will be interesting to just see how it does impact the real estate up there."
Kadenwood is set to have 60 homes when complete.
It's one of several development projects Ecoasis principal Dan Matthews, a founding member of the Canada Green Building Council, is pursuing. Through Saintsbury Holdings LLC, Matthews has partnered with the Townline Group in Richmond. He is also a partner in the EcoUno Land Group, which is active on Mexico's Baja Peninsula.
–- Peter Mitham/Business in Vancouver
from Western Investor, February 2011
