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Prudential Sussex Realty & Sea to Sky Premier Properties Present:
The Parkhurst Estate www.parkhurstinwhistler.com
IMAGINE Imagine owning the largest estate property in all of Whistler: North America’s #1 Resort
destination and host of the 2010 Olympics & Paralympics Winter Games.
This last remaining undeveloped large track of waterfront land within the Resort
Municipality of Whistler encompasses three legal lots totalling close to 200 acres
surrounding Green Lake.
This private exclusive estate features panoramic views of Green Lake with dramatic views
of the Whistler Mountains as the backdrop.
Gently sloping with nearly one kilometre of waterfront along the shores of the Green Lake,
this mega estate property offers tranquility, privacy and exclusivity in one of world’s most
sought out resort communities it simply is the perfect place to build your own unique,
super-luxury estate home.
Let your dreams come true, complete with guest buildings, boat launch and private
helipad a truly unique estate with gated bridge crossing over the Green River to be
admired by those who seek complete privacy and appreciate what Whistler has to offer
year round.
CREATE The Hulbert Group International Inc. Architects and Planners have been
exploring a comprehensive development proposal for construction and
development of a world class off grid, carbon neutral and self sustained
mixed use community while continuing to strengthen the development
of the subject property as exclusive estates like properties.
However, it is important to note that such comprehensive development
proposal for this site must be carefully planned, meticulously timed and
well orchestrated. Premature exploration of such comprehensive rezoning proposal prior to consultation
with the Resort Municipality of Whistler and the community would be damaging to the long term
prospect of this site.
Current Development Potential
Based upon the current zoning, the subject property
can be developed as 3 single family estate homes.
Additionally, based upon information provided in two
appraisals of the subject property and current real
estate conditions such development appears to be
economically and socially feasible and profitable at the
present time. Comparable sales of luxury estate homes
which were sold to date were utilized in the above mentioned appraisal to establish a range of price per
square foot for estate home properties in the area.
This analysis indicated a range of $2,000 to $3,200 per square foot for such homes which are constructed
on much smaller size lots ranging from ¼ of an acre to 4.5 acre parcels. Based upon the above analysis, it
is estimated that newly constructed estate homes on these three parcels would sell in the range of
$15,000,000 to $24,000,000.
However, considering the sizes of these parcels after factoring minimum size of lot required for
construction of such homes, market value associated with the minimum size of land required for
construction of similar homes, the topography, water frontage, views, privacy and exclusive nature of
these parcels, it is assumed that additional acreages could potentially produce an additional $20,000,000
to $30,000,000 creating a price range of between $20,000,000 to $35,000,000 each for newly constructed
estate homes on these parcels.
Additionally, based upon preliminary discussion
and the advice of current consultant on this
project, it is being proposed that consolidation
of the three lots into one legal parcel forming
one large estate property is very likely to be
positively received by the Resort Municipality of
Whistler.
However, such proposed amalgamation has not
yet been applied for nor can be guaranteed.
In the likely event of the approval of such amalgamation by the Resort Municipality of Whistler, than it
expected that a much larger estate home could be constructed on this property. If this type of estate were
to be created it would be unique in Whistler, and would have few peers worldwide. Only the creator of
such an estate could determine the value of it.
Future Development Potential
Given that the subject property is the last remaining large waterfront track of land
within the boundaries of the Resort Municipality of Whistler, fast approaching
2010 Winter Olympic Games and world attraction to Whistler as a tourist
destination, it is the opinion of this group that a much larger scale comprehensive
development can be proposed for the subject site, provided that such proposal for
rezoning of the subject site is appropriately timed and the proposed development
is consistent with the longer range future expansion plans of the Whistler Village
community.
Based upon preliminary due diligence conducted by current ownership and their management team and
through extensive work of their planning consultants we are exploring the potential of redeveloping the
subject site as a world class environmentally leading green and carbon neutral community comprising of
a luxury low light boutique style hilltop hotel, specialty internationally recognized private educational
facility catering to art, culture and sciences, a medium density live and work environment combined with
specialty retail and entertainment facilities to service the proposed settlement, a private specialty
elective surgery and longevity treatment centre, medium care retirement care facility, hillside luxury
town homes overlooking the Green Lake and a closed gated estate home community with full concierge
service, complete with pleasure boat marina.. The close proximity of the Whistler heliport, ability of
water landing by float planes on the Green Lake, Rail service through the property and the proposed
landing strip at the Pemberton Airport for private jets which is well underway and the seclusion of the
subject property from the main Village of Whistler all
signal to the viability of the subject site for such
proposed development described above.
However, to what extent such proposed
comprehensive development will be received by the
Resort Municipality of Whistler would be directly be
connected to the timing of such application and
positive validation from local community, First Nation
community, the international interest, pre and post
2010 Olympics, as well as willingness to contribute to the social needs of the Whistler community and
Municipal infrastructure.
These factors would include certain upgrading and expansion of municipal services or contribution
thereto which is currently in need of expansion and may also be necessitated as a result of such
comprehensive development proposal and providing for low cost housing for employees in making such
rezoning application to the Resort Municipality of Whistler.
In conclusion, this site can very profitably be developed into three exclusive gated estate homes in the
short term (24 to 48 months). However, the more comprehensive proposal is not unrealistic given the
2010 Olympic venue and what would follow in the years after. Provincial Government’s involvement with
the First Nations and allocated bed units to them, although, we all are very familiar with the attitude of
the Resort Municipality of Whistler towards development, but we must also remember what these types
of international events will do to a community and their attitudes. Before Expo 86 thoughts of high rise
buildings along waterfront in Vancouver east of Burrard Bridge was not acceptable and the focus was on
preserving industrial land along the water’s edge, now it is a fact.
Location
The subject property is located on the east shores of Green
Lake, traversed by Highway 99 and the Green River, in the
Emerald Estate area of Whistler, British Columbia. It comprises
3 legal parcels and combined is the last large parcel of land
with development potential within the jurisdiction of the
Resort Municipality of Whistler. The subject site is irregular in
shape with extensive water frontage along the Green Lake and
Green River with a gross area of approximately 200 acres. Access is provided to the subject property by
way of sea to sky Highway (Highway 99), as well as the Whistler Airport.
Site Description
The subject site is comprised of District lots 3363 and 3674, located approximately 8 kilometers north of
Whistler Village, B.C., on the northeast shores of Green Lake. The lots have been subdivided into 3 parcels
of land.
District Lot 3363 is located at the northern tip of Green Lake. The lot is bisected by Highway 99, the
Green River and CN rail Line. The area of the land between Green River and the CN Rail line was
historically used by the Soo Valley Lumber Company.
District Lot 3674 is located south of Lot 3363. The CN Rail Line follows the western boundary of the lot,
along the shores of Green Lake. A historical town site called
Parkhurst is located within Lot 3674 on the shores of Green Lake and the remainder of the site is
undeveloped. A stream operated sawmill was historically located on the point of land between Green
Lake and the CN Rail Line. The historic town site of Parkhurst is located on the upland section to the east
of CN Rail Line.
Topography
The site slopes downward from east to west towards Green Lake. Topographical features are conducive
to the development patterns of the area.
View Characteristics
Fabulous mountain and water views are evident from various points on the site.
Legal Description
- PID: 015-051-706, District Lot 3363, Group 1, New Westminster District, Except: Firstly, Part in
Reference Plan 1022, Secondly Part in Explanatory Plan 12042, Thirdly, part of Highway Plan 94;
- PID: 015-051-773, Block A (Reference Plan 1752) District Lot 3674, Group 1, New Westminster
District; and
- PID: 015-051-811, District Lot 3674, Group 1, New Westminster District, Except Portions in
Reference Plans 1752 and 2136.
Surrounding Developments & Servicing
The site is not yet serviced. The surrounding area is generally pristine grounds save for some large lots,
single family residential development on the west of Green Lake and single family residential
development and golf course on the south end of Green Lake.
Environmental Conditions
A recent environmental study conducted by Cascade Environmental Resource Group Ltd in July of 2007
confirmed the earlier finding from the preliminary phase 1 environmental study from August of 2005 as
to no evidence of contamination or hazardous material on the subject property.
Ancillary Value Proposition
Lumber & Logging Licenses - A sawmill operated on this property for nearly a half century. It would be
prudent to commission a feasibility study to the timber value on the property during a due diligence
period.
Appraisal
There are signed, bankable appraisals from Grover, Elliott & Co Real Estate Appraisers in Vancouver, BC
that support the asking price, and the development potential. Established in 1969 Grover, Elliott & Co is
one of Vancouver’s most reputable appraisal firms.
www.groverelliott.com
Conceptual & Architecture
All conceptual work for current and future development potential has been completed by The Hulbert
Group International Architecture & Planning Inc. Established in 1974 the Hulbert Group is one of
Vancouver’s most reputable architecture firms.
www.thehulbertgroup.com
Brokerage
Sea to Sky Premier Properties an Exclusive affiliate of Christies Great Estates has been operating since
1978 and is the premier brokerage for real estate in Whistler. Christies Great Estates is a wholly owned
subsidiary of Christie’s, the world’s oldest fine art auction house founded in the year 1766, by James
Christie.
www.seatoskypremierproperties.com | www.christiesgreatestates.com
Prudential Sussex Realty has established itself as the premier brokerage of high end properties in
Vancouver since 1975 and is a franchise of Prudential Financial. Prudential is one of the most globally
recognized and trusted names in investment and has been operating in North America for over 135 years
and as of June 30, 2009 has over $580 billion dollars in assets under management.
www.prudential.com | NYSE: PRU
Expertise you can trust; built on knowledge, history, and time tested relationships. Please accept our
invitation for a private consultation about the Parkhurst Property and investment in Vancouver/Whistler
post 2010 Olympics.
Official Broker Representatives
In Vancouver:
Prudential Sussex Realty 2397 Marine Drive West Vancouver, British Columbia V7V 1K9 | Canada Bus: 1.604.925.2911 Fax: 1.604.925.3002 Dir: 1.604.780.3897 Contact: Mr. Matthew Moradian
In Whistler:
Sea to Sky Premier Properties 4333 Skiers Approach Whistler, British Columbia V0N 1B4 | Canada Bus: 1.604.932.4117 Fax: 1.604.932.4120 Dir: 1.604.932.7651 Contact: Mrs. Ann Chiasson
If you are a real estate broker locally or from out of town, please ask one of the listing representatives for a private consultation about Parkhurst and its possibilities. We appreciate your co-operation and will act in kind. Please contact us for anything you need to introduce Parkhurst to your clients.
On the Internet Visit: www.parkhurstinwhistler.com