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Home: BlueSky shining for buyers on Black Mountain
The property market in Kelowna appears to be rebounding and for evidence of that, look no farther than Melcor Development Ltd’s BlueSky at Black Mountain.
The lots at BlueSky’s newest neighbourhood, Meadowlands, are selling quickly, according to Melcor’s regional manager for community development Andrew Bruce.
He said of the 130 lots currently in Meadowlands alone, 110 have been sold, many in the last year.
“According to (MLS) stats, (the local market) is steadily improving,” said Bruce. “We are finally getting back to 2003-2004 levels.”
Another indicator is the quickness with which four townhouses Melcor built at the entrance to its Fairways neighbourhood have sold.
The four townhomes, each two storeys and about 2,000-square feet, are an unusual departure for the developer which, up to now, has concentrated solely on developing lots and selling them to buyers who hire their own contractors to build single-family homes.
Bruce said three of the four townhomes, located near the Black Mountain Golf Course and appropriately named Fore, sold in just three weeks.
Each has a two-car garage, range in price from the $412,000 to $424,000 and are located on a small strip of land the developer got back from the city at the corner of Black Mountain Drive and Stockley Street.
“We think we kinda nailed it on the pricing,” said Bruce, adding two of the units went to empty nesters, while the third was bought by a young couple.
Bruce said in the past, the biggest difficulty the company faced in trying to attract buyers for its lots at BlueSky was actually getting people up to Black Mountain to see first hand the spectacular views many of the lots afford.
But that seems to have changed. With lots in the three neighbourhoods at BlueSky—Meadowlands, The Fairways and Uplands—selling for an average price of $260,000 each with many of the homes being built out to 3,200-square feet over two storeys, Bruce said the bottom line for buyers looking to call BlueSky home is a total bill of between $600,000 and $1 million or more depending on the finishings of the home.
He said many of the early selling lots in the development went to couples with children because it is close to Black Mountain Elementary School.
So, for this development, it would seem the (blue) sky’s the limit.