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Vernon's "The Rise" - Up for Sale
Okanagan Hills Development Corporation announced today that it is selling The Rise Signature Resort Community. The 735 acre resort, with its newly opened Fred Couple’s Signature Golf Course and beach club has been listed with CB Richard Ellis Vancouver office. With significant assets and substantial equity in the property, the move marks a change in strategy for the Vernon-based company who launched the resort in spring of 2005.
“We established new neighbourhoods, created vineyards, and completed construction on the golf course and the supporting infrastructure,” says Leona Snider, president and CEO, Okanagan Hills Development Corporation, “We have added significant value to the property and created a destination resort that will continue to draw visitors and home buyers to Vernon. It’s now time for someone else to pick up the torch.”
With the global financial crisis and the economic slowdown affecting sales all across the Okanagan, the company has decided to focus on bulk land sales..
“The vision of The Rise as Okanagan’s premier golf and wine resort still burns bright and the resort sale will be a remarkable opportunity for the right company,” says Snider, “There will always be a market for a four-season resort that offers the best of what the Okanagan has to offer.”
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