Red Resort

September 23, 2005 07:59 ET

Red Resort Breaks Ground on Luxury-Condominium Development; 25 of 67 Slalom Creek Condominiums Purchased During First Week of Sales; Real Estate Project Completion Expected in Fall 2006

ROSSLAND, British Columbia--(CCNMatthews - Sep 23, 2005) -

Local government officials, business leaders and various members of the Rossland community joined the Red Resort development team today to celebrate the official start of construction of Slalom Creek, a 150,000-square-foot, 2-building luxury condominium project being created at Canada's oldest ski resort.

Since condominium sales started last month, approximately 40 percent of the Slalom Creek units have been sold for a total of some $14 million (CDN). The Red real estate project will be the largest-ever residential development in the area at a retail value of about $34 million (CDN).

The groundbreaking ceremony, held at the base of the mountain, featured remarks by Red Mountain Ventures President and CEO Howard Katkov, who's leading a team currently spearheading several new real estate development projects and on-mountain improvements at the emerging destination in British Columbia's West Kootenay region.

"First and foremost, our purchasers are investing in a great lifestyle with the added benefit of a sound investment opportunity," Katkov added. "I think Slalom Creek's tremendous sales figures -- so soon after the launch -- demonstrate strong demand and the significant value proposition for ownership at Red Resort."

Red Resort is in the early stages of a progressive, 15-year resort-development plan that will create up to 1,400 ski-in / ski-out residences and provide a wide range of amenities, commercial services and on-mountain family activities. When Katkov's vision is complete, Red's real estate development 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.

The Slalom Creek project will feature two steel-and-concrete buildings, each offering 2- and 3-bedroom condominium 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. Red Development Company's design team includes: Nowell2 LandDesign, a Canadian subsidiary of San Diego-based Nowell & Associates, which is responsible for overall master planning 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 on the project.

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.

Contact Information