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Red Resort (B.C.) Resumes Base-Area Condo Construction


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ROSSLAND, BC – (May 15, 2006) – Work crews at Red Resort resumed construction Apr. 3 on Slalom Creek, a 67-unit luxury condominium complex scheduled to open for its new homeowners in January. Slalom Creek, which broke ground last fall, is one of three ski-in / ski-out buildings currently being developed at western Canada’s oldest ski resort.

Formerly called Red Mountain, the resort has evolved into a four-season destination offering a wide range of recreational activities, including world-class skiing and snowboarding, mountainbiking, hiking, golf, fishing, and more.

“We’re on schedule for completing these high-quality mountain homes in early January,” said CEO Howard Katkov of Red Mountain Ventures, the real estate and ski-resort management firm leading the development of base-area condominiums for the first time in the resort’s 100-year-plus history.

Sales of Red Resort homes have been brisk since first being offered last year to homebuyers. According to Katkov, nearly $20 million (CDN) of residential real estate at Red has been purchased to date by skiers, snowboarders, outdoor recreationalists and destination travelers throughout the U.S. and Canada.

“We can’t get these units completed fast enough to satisfy our future homeowners who are determined to be among the first to stake their claim in the unique alpine lifestyle offered by Red and Rossland,” he commented. “We’re not surprised, though, by the positive response to our real estate development.”Red’s other active real estate projects include Morning Star, a luxury condominium building scheduled to kick off construction this summer. More than 25 percent of Morning Star’s 18 units have already been sold by Red Resort Properties, which handles all the real estate marketing and sales activities for the resort. Morning Star, which is due for completion late next year, is being developed by the Leon family of Toronto.

Red recently closed on its land-sale agreement for Iron Horse, another 18-unit condominium project being planned for the resort’s base area. The project is currently in the initial permitting stages and is slated to open in winter 2007. Homes sales for Iron Horse are expected to start this summer.

After purchasing Red in summer 2004, Katkov quickly began a 15-year resort-development plan that will create up to 1,400 base-area residences as well as various amenities, commercial services, new lifts and runs, and on-mountain family activities. When complete, Katkov’s real estate development, mountain expansion and other resort improvements will represent a nearly $1 billion (CDN) investment in Red, and even more when hospitality-related development in Rossland and neighboring towns are considered. In addition, with an approximate $34 million (CDN) retail value, the Slalom Creek project represents the largest-ever residential development in the Rossland area.

Slalom Creek consists of two steel-and-concrete buildings, each offering 2- and 3-bedroom units ranging from 1,200 square feet to 1,500 square feet. The condominium buildings will be joined by an underground, 85-stall parking garage available to residents and their guests.

Both Morning Star and Iron Horse feature 1-, 2- and 3-bedroom condominium floor plans, contemporary finishes, private decks/patios, ground-floor parking, and other attractive amenities. All the units at Red’s three ongoing condominium projects include breathtaking mountain views and spacious top-floor penthouse units available to buyers.

Other planned real estate projects at Red include Hannah Creek, a second-phase development that will feature two 25-unit buildings with room sizes similar to Slalom Creek’s. Hannah Creek’s ground-breaking will be announced in the next several months.

Red’s design team includes: Red Development Company, a Rossland-based firm leading the overall real estate development activities at the resort; Nowell2 LandDesign, a Canadian subsidiary of San Diego-based Nowell & Associates and the masster planner and landscape architecture for the resort; and Fehlman LaBarre, a San Diego architecture firm specializing in energetic retail environments and mixed-use developments for architectural design. Fehlman LaBarre is partnering with New Town Architectural Services of Kelowna, B.C., a multi-disciplinary land-use planning and urban architectural design firm.

The Slalom Creek development is being managed by Ledcor Construction Ltd., a Canadian-based construction firm recognized for its innovative approach to sustainable building and award-winning structures, including the Vancouver International Airport and the B.C. Cancer Research Centre.

Additional design-team members include structural engineer CWMM; mechanical engineer Bains Leslie Engineering Corp.; electrical engineer Falcon Engineering; civil/geotechnical engineers Associated Engineering Ltd.; interior design company M Studio and lighting consultant J.W. McCarter and Associates.