Land for development at Revelstoke Mountain Resort sells for $5.5M

Despite recent slowdowns in the real estate market a Kelowna real estate company has just closed a $5.5 million deal.

Northland Properties, the group behind Revelstoke Mountain Resort, has increased its holdings there by buying a 3.61-acre development site.

“This property is a unique site with a gondola passing over top and is so close to the ski hill that these units will offer ski-in/ski-out access to the mountain,” a news release from HM Commercial Group says.

The sale was made by HM's Lindsey Termul, Marshall McAnerney and Jeff Hudson. Northland Properties is owned by the Gaglardi family.

In September it was announced that Northland would build the Sutton Place Hotel at the Kelowna airport.

READ MORE: New hotel will take Kelowna airport “to the next level”: director

“Although there is short-term uncertainty in the market at this time, there are still very big projects like this happening throughout the Okanagan, with more exciting projects to be announced,” the news release says.

“With all of the negative news in the media today, the long-term future of the Okanagan continues to shine.”

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