Nanoose Bay/Nanaimo/Vancouver Island Update

Seacliff Properties Ltd. of Vancouver bought the Fairwinds golf and marina residential development at Nanoose Bay, near Nanaimo, from the BC Investment Management Corp. whose clients include B.C. public pensions.

Seacliff paid approximately $25 million for the entire 900 – acre property.

“We b ought it to move forward with the plan that has been put in place, “said Ian Porter, Seacliff director of real estate.

Meanwhile, Insight Holdings Ltd. is proposing a 32 storey strata-title hotel for Nanaimo’s waterfront. Hilton would manage the property, which would have 303 rooms. Rezoning was approved in 2015.

Mount Washington – Vancouver Island’s Mount Washington Alpine Resort has been sold to U.S.-based Pacific Group Resorts of Utah, which plans to take Vancouver Island’s only alpine ski hill “to the next level.”

The sale includes all of the resort’s ski and recreational operations as well as most of the development land near and around its base. As reported in the January edition of the Western Investor.

The resort is about 30 kilometers from Comox and from the south, approximatelya 45 minute drive from Bowser.