Thursday, April 15, 2010 Developer of B.C. Resort Property,The Cottages at Cultus Lake, Initiates "Beat the HST" Eventby Dean Esau on Thu, Apr, 15, 2010 11:30 AM In an effort to beat the new harmonized sales tax (HST), a Fraser Valley developer has fast-tracked construction to offer an early release of a number of cottages at The Cottages at Cultus Lake. As of April, recreational property buyers who are interested in the West Coast’s cottage country will have the opportunity to pre-register to purchase in advance of the new tax.
Chilliwack, B.C. ( PRWEB) April 13, 2010 -- In an effort to beat the new harmonized sales tax (HST), a Fraser Valley developer has fast-tracked construction to offer an early release of a number of cottages at The Cottages at Cultus Lake. As of April, buyers who are interested in the West Coast’s cottage country will have the opportunity to pre-register to purchase in advance of the new tax.
To make this possible Cultus Country Investments Ltd. has more than 100 construction workers on-site daily to complete additional cottages. Early release cottages range in size from 1,086 to 2,600 square feet. Prices will range from $379,900 to $629,900.
“We have high demand for our cottages because of their location, proximity to the Lower Mainland, unique design and craftsmanship," says George Hare, president of real estate marketing company Higher Ground Project Marketing Inc. “Because of this, we decided to provide an opportunity for buyers who have the desire to beat the HST and expected interest rate hikes.”
As of July 1, the new tax, which combines PST and GST, will impact new resort properties. For example, at The Cottages, buyers will save approximately $44,093 if they invest in one of the top priced resort properties ($629,900).
Sales at The Cottages at Cultus Lake have remained strong, with Phase One selling out in six hours, which totals more than 130 cottages sold to date. Phase three will launch in late-spring.
To date, more than 100 cottages have been built and are occupied. The development’s $5 million, 10,000 square foot community amenities centre, known locally as “The Treehouse,” has also been completed and is open for use. It features two outdoor pools, hot tubs, a fireside lounge, a games room, kids club, fully equipped business centre, fitness centre and outdoor barbecue in a picturesque setting of country roads framed by mountains, a creek and a trout pond. The development will include 218 individual cottages when finished.
“This developing recreational community is connecting and growing in ways we couldn’t have imagined when we started building. It has been really exciting to watch,” says developer Jon Van Geel of Cultus Country Investments Ltd. “With summer just around the corner and Cultus so close to Metro Vancouver, as a company, we are so proud that our cottages represent such a fantastic ownership opportunity.”
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HomeLife Glenayre
8387 Young Street
Chilliwack, B.C. V2P 4N8
Phone: (604) 795-2955
Fax: (604) 795-2770 |
