THE WAIT IS FINALLY OVER IN INVERMERE
Market is right for Statesman’s homes and recreation centre
Good things come to those who wait, so saith Violet Fane.
Fane, a British poet/writer, was, apparently, the first to use this proverb in an 1892 address, and it continues to be used today in extolling the virtue of patience.
Calgary-based Statesman Group of Companies, a veteran developer of multi-family projects and seniors’ housing, patiently waited nine years to reintroduce its Pine Ridge Mountain and Lakeview Community development near Invermere to the market.
But the wait is now over for the community of what will eventually be 700 homes, as well as an impressive array of outdoor recreation amenities.
Jamie McArthur, sales and marketing manager for Statesman, says that when the economy “crashed” in 2007, development in the Columbia Valley took a big hit and that most were either sold or went into bankruptcy. Consumers who had considered buying backed away.
“Statesman was the only developer to stay involved. While we had to sit back and wait for the market to recover, Statesman was committed to seeing the development through,” he says.
Then last year came the longawaited signs of economic recovery. Consumers were regaining some confidence and home sales started to inch up and construction picked up.
“At buildout, we will have 700 residences including Craftsmanstyle single-family bungalows and two-storey homes, chalets, villas, and eventually ‘condotels.’ But as of right now, we have 110 wooded lots with single-family homes being built, plus 14 chalets. Soon there will be another 12 chalets and 44 villas,” says McArthur.
House-and-lot prices start in the mid-$400,000 range. The average size of homes now being marketed measure approximately 1,500 square feet.
One show home is open and construction of others is underway, after the first one sold within weeks of completion, along with a home being built for a lot owner. And, adds McArthur, Statesman also builds custom homes for those wanting something that more closely reflects their lifestyle.
There has been a noticeable growth in local buyer interest, McArthur says.
As well, Albertans have started driving west to their historical playgrounds in the Columbia Valley, joined by a growing number of snowbirds who “repatriated their U.S. real estate dollars” to reinvest in Canada.
The profile of those buying or showing interest in what Statesman is presenting is broad-based, he adds.
“There are certainly a number of Alberta grandmas and grandpas who are ready to get out of the busy city life, but want to move somewhere that the kids and grandkids can come for a visit ... We also have had a lot of younger families who are semiretired or whose jobs allow them to work remotely, allowing them to continue to work and enjoy the active mountain lifestyle,” McArthur says.
Pine Ridge Mountain and Lakeview Community has restarted construction of residences and amenity areas on its 152 acres at the west end of Invermere overlooking Lake Windermere, bookended by the Rocky Mountains and Purcell Mountains.
With consumer interest increasing, Statesman resumed development — but with a new vision for the property.
The company started work on its outdoor recreation areas called Columbia Valley Family Park in 2016 that includes a three-hole practice golf course and putting green, a children’s playground and zip-line specifically tailored for them. In addition, there is a beach volleyball court, pickleball court, sports field and outdoor fitness area.
Statesman has also proposed to build a recreation centre with an ice rink, swimming pool, fitness and wellness areas, spa, and restaurants. “We want to make sure the entire family is able to enjoy and active and healthy lifestyle 12 months of the year,” says McArthur.
Also, don’t forget the range of amenities offered in Invermere that includes pubs, restaurants, grocery stores, Canadian Tire, Home Hardware, and locally owned boutiques.
And it goes without saying the Invermere area has myriad golf courses, ski hills, and hiking and biking trails.