New Bear Mountain subdivision to roll out in JunePosted on April 11, 2014
Bear Mountain’s first new subdivision since the Langford property was bought by Ecoasis Developments in fall 2013 is expected to go on the market in June.
Ruthanne Doyle, the development’s project co-ordinator, said land is being prepared for the 51-lot subdivision near the ninth fairway and green on the mountain course. The site has two golf courses.
Details are still being worked out, such as whether the lots will be sold in stages, she said Thursday.
They will range from 7,000 square feet to about 10,000 square feet. Prices will range from about $250,000 to $350,000, Doyle said.
“This is our first new project with the new owner,” she said.
A master plan for the 836-acre site is being developed. Ecoasis bought the property from HSBC Bank Canada, which took over after a court-ordered restructuring process in 2010.
The resort and development, founded by Len Barrie, had been under protection from creditors.
Ecoasis now owns two Jack Nicklaus-designed golf courses, the Westin Hotel, and development land.
After the company purchased Bear Mountain, Ecoasis founder Dan Matthews announced it was reversing HSBC plans to turn its 18-hole courses into three nine-hole courses. Golf club members disappointed with earlier plans were relieved that two courses would remain.
Matthews also said the firm is planning an outdoor swimming pool, a hot tub and expanded trails.
Meanwhile, Doyle said all the lots have been sold at Hedgestone Lane at Bear Mountain. That 12-lot subdivision had been marketed by HSBC and eight lots were still for sale when Ecoasis took over.