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PANORAMA’S NEWEST REAL ESTATE OFFERING OFF TO ROARING START
April 28, 2005
The Lookout Quarter Ownership (iQTM) attracts Calgary’s young families.
Calgary, Alta. – Playground Real Estate Inc., announced today that its latest real estate offering at Panorama Mountain Village welcomed 63 new homeowners in less than 4 hours at its Selection Event held Wednesday at the TELUS Convention Centre.
The Lookout is Panorama’s first ever iQTM development, giving purchasers titled ownership to one quarter of a mountain town home. Located high atop Toby Creek Valley, The Lookout offers slopeside amenities and breathtaking views in all directions. Phase I offers 24 luxurious courtyard townhomes ranging in size from 880 sq. ft. to 1230 sq. ft. with the two- and three-bedroom homes starting from $89,900.
Sales Director Randall White said the high level of interest in the property was expected, but the overwhelming response has proven that the caliber of the offering, combined with a price and ownership structure that match resort home usage patterns, was right on target. Playground is the real estate sales and marketing division of Intrawest Corporation.
“iQTM is all about providing access to premium resort real estate by delivering an affordable purchasing option,” said White. “It is the first Quarter Ownership offering in Panorama and it signals the next stage in Panorama’s evolution. Intrawest has invested millions to enhance the guest experience at Panorama, and now we have a real estate offering like iQ that makes sense to a wider audience.”
The vast majority of The Lookout’s buyers are young families hailing from Calgary. “What we found,” White explains, “is that The Lookout’s new homeowners are people who have loved Panorama for many years and have been waiting for the right opportunity to purchase real estate. These are homeowners looking at the long-term legacy that Panorama offers. They have made an important lifestyle decision that also makes financial sense. As was the case in both the Whistler Blackcomb and Tremblant iQ offerings, purchasers will use their new homes to the best advantage, getting the most out of their lifestyle investment.”
Construction of The Lookout has begun and anticipated completion is Summer 2006.
For more information on the Lookout, the newest offering of recreational property at Panorama Mountain Village, or for priority registration for Phase II, visit www.myiQ.ca.
About iQTM - Intrawest Quarter Ownership
iQ is deeded real estate. Introduced first in Whistler, BC, iQ’s purchasers own 25% of a mountain home. The concept resembles the reality of multiple partners owning the same resort property. With iQ, one buys and sells the fraction as real estate. Intrawest manages the annual rotation schedule, oversees the upkeep while not in use and ensures regular maintenance to the highest standards. iQ is hassle-free ownership designed to fit both lifestyle and budget.
About Playground
Playground Real Estate Inc., an Intrawest company, is the premier provider of sales and marketing services for resort real estate world-wide. The company draws on proprietary methodology called The Playground WayTM to fulfill its mission of “connecting people with the ultimate places to play”. With corporate offices in Vancouver, BC, Playground represents unique real estate in five countries on two continents, including the world-renowned Whistler Blackcomb in British Columbia –North America’s most popular mountain resort; Tremblant in Quebec – voted #1 ski resort in Eastern North America; and Florida’s Sandestin – 2,400 acres of white sand beaches and world-class golf. To learn more about Playground visit www.playground.com.
Intrawest Corporation (IDR:NYSE; ITW:TSX) is one of the world’s leading destination resort and adventure travel companies. Intrawest has interests in 10 mountain resorts in North America’s most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games. The company owns Canadian Mountain Holidays, the largest heli-skiing operation in the world, and a 67 percent interest in Abercrombie & Kent, the world leader in luxury adventure travel. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest – a private resort club with nine locations throughout North America. Intrawest is developing five additional resort village developments at locations in North America and Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit www.intrawest.com.
This is not an offering to sell, as an offering can only be made by prospectus or disclosure statement under the applicable jurisdictions.
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For additional information, contact:
Tina Garstad Phone: (403) 268-7853 tina.garstad@hillandknowlton.ca
Randall White Sales Director, Playground Real Estate Inc. |
