Windfall for the Town of Blue Mountains
Development is located across from Blue Mountain’s south base
TOWN OF THE BLUE MOUNTAINS, ONT.— Standing in a scrub field at the base of Blue Mountain on a blustery spring day in 1999, then Intrawest Corp. executive Bill Green shared his vision of turning the family-run ski resort into an international destination.
The dream of building up to 1,200 upscale condominiums, patio cafés, boutiques and even a lake seemed improbable back then, but within six years much of what Green had promised came to fruition. About two-thirds of the condos had been built and Blue Mountain was soon attracting up to 6 million skier visits per year, making it one of Canada’s busiest winter resorts.
But even more surprising is that Blue Mountain now attracts more visitors in summer than in winter.
Green and two other former In- trawest executives, Joe Houssian and Michael Coyle, now have a new vision for Blue Mountain.
Windfall is a 148-acre develop- ment with about 600 homes, located across from Blue Mountain’s south base lodge parking lot and backing onto the popular Scandi- nave Spa. “We understand the market,” says Green who is chief operating officer of Replay Resorts, the “vertical de- veloper” of Windfall, which is a joint venture with Georgian International and Westerkirk Capital.
The first 37 homes at Windfall are scheduled for release Saturday and will range from 1,500 square feet starting at $529,000 up to 2,200 square feet for about $590,000. While the condominiums at the Intrawest Village at Blue Mountain attracted mostly investors looking for capital appreciation and income from the resort’s rental program, Windfall is aimed at families, says Green.
“Generations of families will enjoy spending time together at Windfall,” says Green, adding that Windfall, with its trail system, meadows, parkland, swimming pool and recreation centre, will offer “an indoor/outdoor connection.” More than 30 per cent of the development will be green space.
Homes in the first phase will be freehold with a common element condominium component that will eventually include the recreation centre.
The six floor plans include bungalows with optional lofts and twostorey homes. Standard features will include hardwood floors and high a efficiency gas furnace. Homes are designed so that garages are at the back to enhance a pedestrian lifestyle, says Green.
A winter that frequently saw snow turn to rain dampened resales in the already depressed condo market at Blue Mountain, and on average, condo prices remain down about 20 per cent from the original selling price, says Gerry Wayland, broker and owner of Village Realty Inc..
“Blue Mountain did a tremendous job of making snow and keeping all the runs open, but when the people come off the hill into the village and they don’t see one lick of snow on the cobblestones, they don’t feel the magic and they don’t feel inspired to buy,” says Wayland.
“The sun comes out and people start to feel the magic again and want to buy here.” GERRY WAYLAND VILLAGE REALTY
Wayland, who has been selling real estate at Blue Mountain for 12 years and will be marketing Windfall, calls the decision to move ahead with the Windfall sales launch a “bold move,” but one that he considers perfectly timed for the local market conditions.
The initial demand for condos at Blue Mountain was for bachelors and one-bedroom units, but now the two- and three-bedroom units are the hot item, says Wayland.
Projections are that Windfall will appeal to a “slightly older crowd,” some of whom will eventually make Windfall their full-time home, he says.
Green says there are some minor planning requirements to be met, but he fully expects work to begin on servicing the lots at Windfall this August and that the first occupancies will be in the summer of 2013.
While resales at Blue Mountain have been slow, the housing market in the surrounding area got off to a strong start in the first four months of the year, says Doug Fraser, president of the Georgian Triangle Association of Realtors.
By the end of April, 543 homes had changed hands, up 22 per cent from the first four months of 2011. In April, the value of residential transactions in the region was $56.4-million — the highest monthly dollar volume on record.
“The mood is very positive,” says Fraser, who is a broker at Century 21 Millenium Inc. in Wasaga Beach.
Meanwhile, some good spring weather at the Village at Blue Mountain put buyers in a positive mood, says Wayland.
“The sun comes out and people start to feel the magic again and want to buy here,” says Wayland.
For more information on Windfall go to windfallatblue.com or contact Gerry Wayland at 1-705-445-0440 or gerry@villagerealty.ca Roberta Avery is a freelance writer who specializes in new homes and condominiums for sale in cottage/ski country
and sun destinations. Email her at rober
tamavery@gmail.com.