Kelowna’s piping hot housing market is ripe for a new multi-million dollar housing development in West Kelowna.
The proposed neighbourhood of Paradise Estates will be constructed on the old West Bay Beach Resort, a former campground. This prime piece of land is just six miles west of downtown Kelowna. This parcel will eventually have 21 luxury vacation residences in a secure, gated community. Each two-storey home will have three bedrooms and myriad of luxury amenities.
Paradise Estates will be constructed by Gasland Properties based in Edmonton. Construction has already started on the former campground site but the official launch will take place this Friday, May 27 at Quails’ Gate. Attendees will be privy to a short tour of the grounds.
Gasland Properties has a history of building commercial properties; however the chairman of the family-owned Alberta company, Cal Nichols, told Kelowna media that the West Bay Resort property is a rare find. It has a flat grade and to top it all off, there is an excellent sandy beach about 400 feet long right on Okanagan Lake. It’s actually the largest sandy beach in the area. It was too good to pass up.
Nichols puts the dollar-figure on the Paradise Estates project at $50-million. The homes will be far from modest, with at least 3,800 square feet of living space ideal for entertaining or for a family vacation gathering spot.
As a vacation or retirement spot, each home will be a private boat slip and luxury amenities such as a wine room, roof-top deck with garden and hot tub with spectacular views of the lake. With potential buyers in the Boomer generation, each home will be accessible with an elevator.
Given the location of this future gated community, each home will be as fire proof as humanly possible with steel and concrete construction.
Community amenities for the use of residents will include a large swimming pool with a waterslide and a shallow end for small children. A fire pit, putting green and private residents-only beach are also included in the plans.
Residents with a penchant for making wine will also have access to the 15-acre land reserve in which the developer would like to place 13,500 vines.
Paradise Estates Pricing
Projections for the cost of each home start at $2.5 million and up.
Nichols says the typical buyer for a home in this community will be 45 plus and will be those looking to upgrade or folks looking for a second home.
West Kelowna council members and the Mayor, Doug Findlater, have noted that Paradise Estates will expand the tax base in the municipality and provide at least $1.5 million worth of infrastructure upgrades. That includes expansion of Green Bay Road and realignment of the Green Bay/Boucherie Road intersection.
With construction season well under way, Gasland expects that the first model homes in Paradise Estates will be ready for public viewing shortly before Christmas. The earliest possessions would likely be a year from now in June 2017.