Real Estate  

Developing Lake Country

A massive new development is already underway in Lake Country, and local officials held an official groundbreaking ceremony Friday morning.

The Lakestone waterfront community will be located on a 550-acre parcel of land in Okanagan Landing. Once completed, it will include 1,365 homes and also 300 acres of preserved open space featuring walking trials from the lakefront to Summit Park.

“This is a great development for Lake Country and the largest single development I think, with the total build out,” says Lake Country Mayor James Baker.

Construction on the development has already begun; Friday’s official ceremony was to ‘break ground’ on the $3.5-million Lake Club, which will include a pool, hot tubs fitness centre and space to store water toys.

The private club will only be available to property owners at Lakestone, but will also have a public beach for Lake Country residents and anyone else.

Owner and President Robert Macdonald of Macdonald Development – the company in charge of Lakestone – says the project is coming together on a great piece of land.

“We felt ourselves extremely fortunate, because this location on Lake Okanagan is very special in world terms. And most of us have travelled around the world. And there are very few places on the entire planet as special as this.”

Phase 1 has already sold out near the water’s edge with lot prices going for $195,000.

They are currently preselling lots of phase 3 for $225,000.

More Real Estate News