COOL PROPERTIES
Across the country, inventory is up for vacation homes catering to skiers, snowmobilers and other winter warriors
What a difference eight months make. In late March, Royal Lepage’s Spring Recreational Property Report revealed that 57 per cent of the 200-plus real estate agents it surveyed reported less inventory in 2023 than in 2022.
Two-thirds of a year later, almost half of the agents polled have reported an increase in inventory “as a direct result of rising interest rates,” according to the real estate company’s 2023 Winter Recreational Property Report. In turn, home prices in Canada’s popular ski regions posted a 0.7 per cent decline since the beginning of 2023.
“While demand has weakened and supply has increased compared to the pandemic-fuelled boom, market activity is trending back to normal historical levels,” said Pauline Aunger, broker of record with Royal Lepage Advantage Real Estate. “Instead of being priced out of the market, recreational property hunters who are passionate about skiing, snowboarding, snowmobiling and other snowy activities can now be more selective when searching for the perfect place to enjoy the winter with their families, or generate income by renting to others.”
Pre-construction recreational projects can also allow buyers to sidestep high interest rates because mortgages only kick in once newly built homes are occupied, which is typically several years after they go on sale. “With rate relief expected in 2024, pre-construction may appeal to anyone who foresees even lower rates further down the road,” Aunger says.
These six pre-construction projects are either on sale now or are slated to launch this winter.
Horseshoe Residences, Horseshoe Resort, Ont.
Set on the shores of Horseshoe Resort’s namesake lake, this eight-storey Scandinavian-inspired condo building from Freed Hotels & Resorts will be home to 95 one- and two-bedroom units. The work of the interior designers at Toronto-based Johnson Chou Inc., each suite will feature ninefoot ceilings, quartz countertops, tile backsplashes and frameless glass showers.
The building’s balconies, terraces and patios will overlook year-round outdoor diversions ranging from downhill and cross-country skiing to snow tubing, mountain biking, golf, hiking and paddle boarding. Freed’s Rental Management Program, meanwhile, is offering unit owners a two-year guarantee of up to $50,000 in rental income.
From the $500,000s. For more information, visit horseshoeresidences.com.
The Daly, Red Mountain, B.C.
With the 120-unit Crescent condo project now sold out and under construction nearby, Red Mountain Ventures LP is partnering with Vancouver developers David and Christopher Evans on a new six-storey building at the base of North America’s ninth-largest mountain resort.
Designed by Vancouver’s Yamamoto Architecture with interiors by Ste. Marie Studio, The Daly is steps from Red’s stylish Josie Hotel. Its one-, two- and three-bedroom homes range from 500 to 1,100 square feet, with communal amenities including a gym and movement studio, dry sauna, pool and hot tub, and a barbecue deck with a fire pit. Owners will have the choice to be full- or part-time residents, with the latter having the option to generate income via rental programs.
From the $500,000s. For more information, visit redmountainhomes.ca.
Ostrya Tremblant, Mont Tremblant, Que.
Steps from the base of the Le Soleil quadruple chairlift — as well as bike paths, snowshoe trails and Tremblant’s buzzing casino — the inaugural phase of developer MI Capital’s Ostrya project includes a pair of elevator-equipped low-rise buildings containing 22 and 24 units, respectively.
All of the two-, three- and four-bedroom units feature gas fireplaces, kitchens with quartz countertops and central islands, and panoramic balconies or terraces; cathedral ceilings are available in some units. Communal amenities include a hot tub, sauna, lounge with fire pit, gym, swimming pool, yoga room, family activity room, heated indoor parking, and secure bike and ski storage. A self-serve bike and ski workshop caters to do-ityourselfers, while electric charging stations are available for e-car owners.
From the low $800,000s. More information, visit ostryatremblant.com.
Aquavil Towns, Craigleith, Ont.
Fewer than 10 minutes west of Collingwood by car, a wide array of winter activities surround Royalton Homes’s Aquavil project on the sandy shores of Georgian Bay. There’s the restaurant-, boutique- and pub-filled Blue Mountain resort, which combines skiing and snowboarding with ice skating atop the Niagara Escarpment, and a gravity-powered roller-coaster that descends the slopes in thrilling fashion. There’s also Scandinave Spa’s complex of hot and cold pools, steam rooms and saunas, which pair pleasingly with a day of snowshoeing or cross-country skiing at Scenic Caves Nature Adventures.
The first phase of the 26-hectare Aquavil community is called the Modern Townhome Collection. It will include 125 two-storey open-concept units with unfinished basements. Ranging from 1,512 to 2,044 sq. ft, the two-, three- and four-bedroom townhomes offer 10-ft ceilings on ground floors, gas fireplaces, quartz or granite countertops, kitchen islands with bar counters, and frameless glass showers. Private terraces and attached garages are also available with some units.
From the mid-$800,000s. For more information, visit aquavil.ca.
Black Swift Lodge, Canmore, Alta.
Set between two picturesque creeks, the 11th multifamily lodge to be launched by Spring Creek Real Estate in its eponymous master-planned development will have 49 one-, two- and three-bedroom suites, with lofts available in some of the latter.
Each of the BUILT Green-certified units features a rock fireplace with fir mantle, geothermal infloor heating, and panoramic windows facing the Rocky Mountains and the ski resorts and Nordic trails that dot them.
Access to underground heated parking and storage lockers is included, with a hot tub and gym rounding out the building’s communal amenities.
The surrounding Spring Creek community, meanwhile, is home to a luxury hotel, an assisted living residence, an events space, and a growing array of businesses and shops.
Starting at $859,000. For more information, visit springcreekrealestate.ca.
Wakefield Hills, Wakefield, Que.
The third phase of this pastoral development by Groupe ZELO and JB Construction includes six new semi-detached homes occupying three two-storey residential blocks steps from the Vorlage ski hill’s main chalet.
Spanning 1,884 sq. ft, each of the four-bedroom three-bathroom units features a cathedral ceiling in the master bedroom, radiant floor heating, engineered hardwood floors, triple-pane windows and steel-shingle roofing.
Second-floor rear balconies will look out onto 2,190-sq.-ft lots.
Pricing set at $625,000 plus taxes. For more information, visit wakefield-hills. com.