Northland Properties recently closed a $5.5 million deal for significant piece of ‘ski-in, ski-out’ development property on resort land.
Revelstoke Mountain Resort owners Northland Properties purchased a 3.61 acre development site from HM Commercial Group, a Kelowna-based commercial company which deals in in investment properties, leasing, and development.
“This property is a unique site with a gondola passing over top and is so close to the ski-hill, that these units will offer ski-in/ski-out access to the mountain,” said HM Commercial group in a press release.
This isn’t the first time the two groups have done business. In Sept., 2022, HM Commercial Group announced plans for Northland Properties to develop a Sutton Place Hotel at Kelowna International Airport. Contruction for that project is set to begin later this year, and is anticipated to be open in 2026.
“Given the proximity to homeowners and resort operations, Northland Properties acquired the land to keep development localized and in line with community objectives and our future plans,” said Peter Nielsen, Vice President Operations at Revelstoke Mountain Resort.
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