35 homes now complete at Penticton community as South Okanagan March residential sales up almost 17%
Penticton, BC. As new statistics released by the BC Real Estate Association (BCREA) indicate an increase of almost 17 per cent in residential sales in the South Okanagan for March 2016 compared to March 2015 (BCREA April 15 report), Skaha Hills Development Corporation announced today it has completed the overall visioning for the master plan of the 550-acre community. It revealed details on the plans for an organic market garden, a designated RV storage for residents, and a 10 km trail network is now mapped out.
“We’ve injected specific infrastructure details into the master plan as development at Skaha Hills progresses,” says Curt Jansen, vice president sales and marketing, Skaha Hills. “Residents can look forward to accessing fresh fruits and vegetables from an organic market garden on the property and we’ve got the trail network mapped out, which will run throughout the community and the surrounding hills.”
Built by Greyback Construction, a partner in Skaha Hills, 35 homes in the first phases of Skaha Hills are now complete and occupied. Twenty-four homes are under construction or are in the final design stage. Only 14 home sites remain in Phase II, The Ridge at Skaha Hills.
Interested buyers will soon have a new, unique living option in a vibrant community with access to an array of amenities and spectacular views. Phase III’s The Vistas that launch this spring offer a twist on the classic townhome and embody a terraced rancher-style concept. The collection of homes will be the first of its kind in the Okanagan.
“There is growing excitement for The Vistas at Skaha Hills and the overwhelming interest we’ve received in registrations is a testament to that,” says Jansen, “The views will be some of the best you can find in Penticton. Further details will be released in the coming month,” says Jansen.
Image caption: Seven phases will complete Skaha Hills’ 550-acre community
Photo Credit: Skaha Hills Development Corporation
Skaha Hills is gearing up for the spring launch of the multi-million dollar estate winery and bistro from Stage West Hospitality, scheduled to open in May of 2016. The vineyards will encompass up to 50 acres of Skaha Hills, with the winery and bistro overlooking Skaha Lake, creating a landmark entrance to the community.
Designed with multi-generational markets in mind, Skaha Hills will have an extensive network of hiking and biking trails spanning the 550 acres, a multi-purpose amenity center, dog park, and greenspace with a children’s play area. Residents will enjoy access to a pool and lounging deck, well-equipped gym, infrared sauna, and hot tubs. Golf enthusiasts will be granted convenient access to Skaha Meadows Golf Course and the beachfront.
New statistics released on April 15 revealed that the South Okanagan real estate market is continuing to boom. According to a report by BCREA, March 2016 year-to-date residential unit sales increased 16.2 per cent from the same period last year, up from 370 units to 430 units. The high demand for housing is underpinned by exceptionally low interest rates, relatively robust employment growth, and rising wages.
“Homes sales were exceptionally strong in March,” said Anthony Bastiaanssen, OMREB president and active REALTOR® in the Central Okanagan. “The spring housing market is now shaping up to be one of the most active on record. Market conditions are now favouring home sellers in many neighbourhoods, and as a result, competition is increasing for the best properties.”
Interested parties should register at www.skahahills.com to receive more information, including renderings, floor plans and price ranges for Phase III, which will be released in late spring of 2016.