in World News Kelowna group buys resort
PintoWest, owned by Kelowna family, purchases Hyde Mountain Golf Resort
A Kelowna based company has purchased the Hyde Mountain Golf Resort in Sicamous, with plans to develop up to 1,000 lots.
Principals of PintoWest lent $5.3 million for the transaction and will provide additional funding for development. The Lovig family of Kelowna are the majority owners of PintoWest.
The Resort is a master planned community located on Mara Lake, in Sicamous, BC. It is a 264 acre waterfront property with a marina, 18-hole golf course, restaurant, bar, store, helicopter pad and future residential, commercial and recreational units.
“It’s quite an exciting concept,” says Brian Lovig.
The lots will be created within 5 zones to be developed and marketed by auction, with a potential for development of up to 1,000 units, including a hotel, residential, recreational, RV lots and 150 boat slips in the marina.
“We have a helicopter that operates, bringing people back and forth from different locations. The RV lots are in huge demand. Some of them will be built on the rest will be ready for people to pull up in their trailers.”
Lovig says the goal of his new PintoWest company is to acquire unique real estate for development such as golf and RV resorts, development lands, and other residential and commercial real estate.
“We hope to have shovels in the ground by the end of July and we will market by one day auction in March of 2022,” Lovig says.
Hyde Mountain Golf Course was designed by Les Furber, who has designed more than 60 golf courses across Canada and remodelled 52 more