Changes at Blue Mountain

This is the final part of this 4-part series

Intrawest and Blue Mountain know that in order for the resort to remain vibrant and solvent, they need to keep visitors coming to the resort.  Since Fortress purchased Intrawest, they focused on cutting capital expenditures and reducing operations which did not prove to work.

The resort now focuses on bringing special events and experiences to the village.  Almost every week-end, there is a festival or special event taking place such as the centurion bike race, the Apple Harvest Festival, Music Series, Beach parties and art shows.  They are linking to other local activity providers such as Scenic Caves adventure tours (you gotta go zip-lining!), La Scandinave Spa and various Adventure Tour operators.

This year, they have made the first steps in recent years to new capital investments starting with Phase 1 of an on-site adventure park.  In partnership with Blue Mountain resorts, the Village is now completing construction of a rather exciting Alpine Coaster ride that features a 1.5 kilometer, elevated track through forest into the Village where guests ride in a cart over the track that sits 1 to 6 metres off the ground.  This will be open year round and is only the first of a 2.5 million dollar master plan that also includes an alpine mini golf course, rock-climbing, Euro-bungee, Tree Top Walk, Zip Line and mountain-top park.  The village also expects to expand from its present 46 shops and restaurants to about 60-70 at completion.

Since it is a stated goal of the resort to increase rental occupancies, it is quite possible that the combination of scarcity ( with no new developer inventory at this time), increased occupancies and economic stability may see better returns on investment for unit owners in the Village at Blue.  Of course only time will tell.

Read Part 1:  Buying A Condo at Blue Mountain
Read Part 2:  Why People Buy Units at Blue
Read Part 3:  Financing A Purchase at Blue Mountain


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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Monday, November 15th, 2010 at 9:45 am and is filed under Blue Mountains, Buying Real Estate, Investment Property, Market Conditions, Vacation Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

5 Comments

  1. Ana says:

    Hi Marg

    I have been reading your postings on Blue Mountain Village recently as we are looking at purchasing a unit there in the next few months. I was wondering if you can give me any insight into the Blue Mountain Village market at this point in time. Is this a good time to but a property up there, are the prices looking at stagnating or increasing/decreasing. I know you spoke of investments that have been done by Fortress to increase occupancy etc. A private response to my email would be appreciated but if not, than one here would be great. Thank you for your time.

  2. Dal says:

    We tried to purchase a condo in the village and according to the bank, they don’t finance condos in rental pool. Are there other financing available? If so, where/what?

    Any reply will be greatly appreciated.

    Thanks

  3. Marg says:

    Hi Dal
    It is challenging for sure since you are buying into a commercial venture and banks don’t like to lend on that. some people finance against the equity in their principal residence and others have had success through mortgage brokers and private lenders. Your own real estate salesperson should be able to assist with you appropriate contacts. Good luck!

  4. Sanjay T says:

    Is it a good time to buy 2 bed condo and would you recommend Snowbridge, Rivergrass or any other development appreaciate a response

  5. Marg says:

    Hi Sanjay
    The market for condos in our area is very active and in demand so the challenge is always finding one. All of the developments you’ve mentioned are good and it really depends on what your purpose is for buying. Feel free to send me a private email if you wish to share further information. Thanks.

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