ADVENTURE ON THE LAKE AWAITS
Development near Vernon offers more than great views
Back in 2005, the whole of the Okanagan Valley’s housing industry was running hard to keep up with the boom-time demand for escape destinations or retirement retreats.
Among those in search of just the right home in just the right location were Calgarians Cathy and David Moore who had decided they wanted to retire in the valley. The question was where?
“We went on a little road trip,” says Cathy. “We started in Osoyoos and worked our way up the valley looking at different developments all along the way. All of the Okanagan was busy back then, so there was lots to see.”
But when their Highway 97 travels got them to Adventure Bay, being developed by Tavistock Properties Ltd. about 10 minutes from downtown Vernon, the road trip ended.
“We saw it, liked what we saw, and 24 hours later we bought our lot,” says Cathy.
Four years later, Lakeside Development Corp. was hired to build a south-facing 3,000-square-foot walkout bungalow overlooking Lake Okanagan, and the Moores took possession in 2010.
“We were taken with the stunning views and the vision of the community, along with the lake views we have from our balcony,” says David, adding that they were the fourth home in the neighbourhood at the time.
Despite the ups and downs of the market over the years, Adventure Bay has seen steady sales with only minor fluctuations, along with constant price appreciation.
And now with the combined sources of buyers from the Lower Mainland and Alberta, we are witnessing the most sustained market surge in a decade, says Sherry Wiebe, project manager for Adventure Bay. Among the buyers are professionals using their Ad- venture Bay home for short- and longer-term seasonal vacations, active retirees, and what Wiebe calls “transplants” who have the opportunity to continue working, but from their Okanagan Valley home office.
The Moores bought their home while they were still working, but now that they are retired, the plan is to spend more time in their Adventure Bay home.
“We will likely spend much of the year here, but will go back to our condo in Calgary for the winter,” says Cathy.
Tavistock, headed up by Paul Gaskin, has been developing Adventure Bay for 10 years and servicing is now underway on the third and final phase that will be brought to the market in the summer of 2018, says Wiebe.
Plans are underway for high-end, south-facing lakeview condominiums on the bluff directly above a private beach along Lake Okanagan priced in the $495,000-to$600,000 range. Reservations will begin to be taken in September or October of this year with occupancies beginning in late 2017 on what will be the only condominiums of their kind at Adventure Bay.
“Adventure Bay covers several hundred acres, from the shoreline of Lake Okanagan up the hillside,” Wiebe says.
“And to date, about 120 lots have been sold and 40 homes have been built or are under construction.”
The development is about 10 minutes from downtown Vernon, with the Silver Star ski area a 40-minute drive and the Predator Ridge golf complex less than a halfhour away.
The homes and lots have views of the lake, the Monashee Mountains, Vernon, orchards and vineyards.
And there are more benefits. Owners have exclusive access to the Adventure Bay beach park and wharf, and can enjoy strolling, jogging and biking on the trails winding through and around the property. And if you’re into tennis or pickle ball, the facilities are right there.
“We have come to love the area and our home. The weather is outstanding, and it’s so easy to be active here,” David said.
Buyers have up to 10 years to build on lots that start at $195,000. You can build a lakeview home on that lot, at 2,500 square feet starting from approximately $450,000.
Lakeside Development Corp., which has built more than 100 homes in the Vernon area in the past decade, is just one of the approved builders in Adventure Bay that are selected annually. This year, Everton Ridge Homes has been selected.
Everton Ridge has built in earlier Tavistock developments including Seasons in the Okanagan, so is pleased to take a role in the development of Adventure Bay.
“We have two homes under construction that should be ready for occupancy in October,” says Everton Ridge president Jacob Kuiken.
“And our goal is to build six to eight homes there per year.”
Like Everton Ridge’s homes in Turtle Mountain, the Adventure Bay homes will allow modern West Coast, Prairie and Craftsman architecture — in addition to architectural controls specific to Adventure Bay.