Black Forest Residences development at Big White cancelled

Photo: Vita Resorts Inc.

Mock up of Vita Resorts Inc. proposed project at Big White

A large residential development at Big White has been shelved.

The much anticipated Black Forest Residences, being built by Vita Resorts Inc., has been dropped.

"The project from the developer (Vita Resorts Inc.) has been cancelled because the developer couldn't secure his finances. So he didn't conclude the contract," said Big White Ski Resort vice president Michael J. Ballingall.

The ski-in/ski-out Black Forest Residences would have comprised a total of 172 residences and would have been the closest residential suites to any chairlift at a major resort in North America.

Ballingall says the resort is still looking to sell the lot and are hopeful another developer will step in to restart the project.

"It's not a bad deal for us. There's a non-refundable deposit, but money is a little bit harder to get in the development area, everybody is sort of keeping their powder dry," Ballingall said, explaining rising interest rates and the cost of materials were also a factor in the demise of the project.

Despite the cancellation, Ballingall is optimistic another developer will want to take on the project especially once the infrastructure is complete.

"The roads and the curbing is going in the water, sewer lines are all going in — when you have shovel ready, work available in the alpine, it's not something we worry about," Ballingall said.