More than half of phase one of Mackenzie Village was sold in the first week, says the developer.
“It’s going quickly,” said David Evans. “I would have been pleased with somewhere between 30-50 (per cent) to start off with and then going from there. Sixty has surpassed my estimates, but bearing in mind the shortages and pent up demand, I was maybe quietly hoping it would be that successful.”
The first 46 units of Mackenzie Village went on sale on Monday, April 10, and Evans told the Review on Thursday that 26 units were sold, pending financing, and five more were in the works. If those go through, it means more than two-thirds of phase one will have been sold.
The last time a development sold this quickly in Revelstoke was when condos and lots at Revelstoke Mountain Resort first went up for sale in 2007, though many who offered to buy those never closed on the sales after the financial downturn in 2008.
Prices for Mackenzie Village start at $224,900 for a one-bedroom apartment and go up to almost $600,000 for a three bedroom townhouse. Phase one also includes two bedroom apartments and Evans said a mix of all units were sold.
He said buyers were from Revelstoke, elsewhere in B.C., Alberta, the Seattle area, and even New York City. A few bought them as a place to live and others as recreation properties.
“About a third probably bought, I wouldn’t say primary use vacation rental, but that’s a reason,” said Evans.
Horizon North, the company building the Ramada Inn, was contracted to build the units. They specialize in modular construction, meaning the units will be built in a factory, then installed here.
“In order to get 46 units built in the time frame we’ve got, we have to use this style of construction,” said Evans, adding they will be hiring local trades people to do as much work as possible.
He said Jake & Jay was expected to start preparing the ground for construction on April 24. “Where we can, we told (Horizon North) they need to be using local trades for other things,” said Evans.