Arrowleaf Devlopment

[bmbear]

New development on the west side above Skaha Meadows golf looks very interesting.Maybe its just what Penticton needs.I hope they can make a go of it.

[ogopogo90]

If it weren't for the 99 year leases, I would definitely be interested in buying.

[glassmaster]

A 99 year lease is not a bad thing. The lease is with the Federal Government ... when it is time to renegotiate, many protections are in place to ensure fairness on both sides. More and more people are buying on the basis of a 99 year lease and are very happy with the arrangement.

[Tony]

A 99 year lease is not a bad thing. The lease is with the Federal Government ... when it is time to renegotiate, many protections are in place to ensure fairness on both sides. More and more people are buying on the basis of a 99 year lease and are very happy with the arrangement.

Glassmaster - are you sure it's with the Feds and not PIB? West side of Skaha Meadows is all PIB isn't it?

[twobits]

Glassmaster - are you sure it's with the Feds and not PIB? West side of Skaha Meadows is all PIB isn't it?

Tony, it is all PIB lands but there are new mechanisms in place now so that leases are ran thru the Federal Gov't. It was required in order to make financing on native lands easier and to avoid repeats such as the Riva Ridge development fiasco where people paid up front for their lots on a long term lease only to have them confiscated by the locatee owner and charged pad rent when the developer went boobies up.
99 years is a long time and it can be argued that it is essentially purchasing the lands but I would personally never do it. Lots of things can happen in that period of time and while I would be long dead before expiry, I do still consider the diminishing asset of my estate to heirs as the lease gets old. How many grand kids have inherited their grandparents original homes?

[glassmaster]

A purchase at Arrowleaf will likely be associated with a fully prepaid 99 year lease from the Queen (Canadian Government). This lease arrangement is common in many jurisdictions across the Okanagan Valley and throughout Canada. Many thousands of Crown Leashold examples exist in the Westbank area, Spririt Ridge in Osoyoos, Canyon Desert Golf Community in Oliver, and National Park Communities of Banff and Jasper (just to name a few).
Long term leases are usually put in place for terms that exceed the economic life of the buildings, however, the renegotiation process will begin somewhere around year 76 ... giving lots of time to secure another lease (if that is what the property owners want at that time). There are protections in place to ensure that neither side takes advantage of the need to renew and that the lease rate is appropriate for the time.
When a lease with the Canadian Government is entered ... you have all of the rights, privileges and entitlements typically asssociated with freehold (fee simple) property ownership. In addition, there can be substantial tax savings. Although there will be some folks that do not want to buy with a long term lease ... there are many that will view a 99 year lease (with no purchase tax - and on spectacular vistas) as the way to go.

The Osoyoos Indian Band is one of the biggest economic drivers for the Oliver/Osoyoos area ... lets hope that the Penticton Indian Band has that same kind of positive impact on the economy in Penticton. Arrowleaf would be a great start.

[Dawnland]

The Arrowleaf Development proposal has gone before a referendum by the PIB membership and has been approved. There will be a 550 acre development being constructed through Bellstar and Devonian Corp. the same people who developed Spirit Ridge in Osoyoos.

[grammafreddy]

http://www.pibdc.ca/wp-content/uploads/ ... re-web.pdf

http://www.ownarrowleaf.com/

Homes from mid $300s - that's affordable?

[fluffy]

"Affordable" is a pretty subjective term these days, especially in a market where a quarter million is considered entry level. It's got to be intimidating for young folks at the new end of their earning curve.

[Dawnland]

The referendum only passed by three votes. It has really shown the divide in our community.
The 'no' votes were based on a number of different points:
-We have four other areas that have been designated for development that should have been considered first as they have a smaller impact on our residential area.
-The development is going to be gated, forcing wildlife migration pattern to be changed, possibly putting people at risk.
-Water shortages in the area over the last few years indicate that the environmental assessments that were done during the original vote back in 1999 were based on loose variables and are not currently accurate. this could possibly put our water supply in jeopardy.
-The original vote in 1999 was based on developing a Hotel/resort/casino (which the City of Penticton received the gaming licence for), now so many years have passed and the development project has changed to mainly be residential, but the development corporation sought development and investment based on that old vote.
-The development proposal shows the 'returns' for the community are minimal as well as job creation being almost none.
-The development is too big.
-People in today's economy don't want to shell out $300 000 for a house that looks the same as everyone else's house, beside an airport!

The 'yes' votes were based on a couple of points as well:
-Establishing our position in the economic arena is an important step towards self-sufficiency.
-There are opportunities for specific families to benefit from this development.
-Some band members may be hired on for employment.

OK go ahead and start bashing away at how; a) it's about time PIB started developing. b) No one wants to live out here, this project will never get off the ground. c) we're just trying to put our hands out for more money. d) we can't even take care of the horses, how are we supposed to manage a large scale development. e) The Natives are just going to buy brand new vehicles and not work for our money.

Don't worry about letting the criticism fly because it's not like you are saying anything new or offering solutions through investments or partnership opportunities.

[mountain sky]

As to affordability, I really don't think this is marketed to the entry level young couple. My first house was not in a golf course development with all the amenties that Arrowleaf is offering.

This is a great thing for Penticton. My understanding is that rental units will be marketed like Spirit Ridge. Families, senior couples, extended families on vacations are not coming to Penticton anymore because we do not have this level of vacation rentals. Variety is a good thing.

Eveything does not have to be developed to the lowest common denominator. This is a good thing for Penticton These people will shop at Save-on, Walmart, golf at the golf courses we all enjoy and make everything in the City more viable.

[fluffy]

As to affordability, I really don't think this is marketed to the entry level young couple.

I agree. It would likely be a "55+" community as that's where the money is these days.

It's interesting that the vote among band members was so close. Dawnland, what would the "no" vote side like to see the future holding for band members? I understand this is huge step for the PIB, and the divide between the extremes of no-growth and unlimited-growth and all points between is apparent in most communities these days, native and non-native alike. What do you see as the philosophical differences between the yes's and the no's in this particular issue?

[Tony]

Was there not two Casino licenses issued - one for the PIB and one for the City? PIB never acted on the one issued unfortunately, and it is now ancient history so it's probably expired. Be kind of cool if they could get that resurrected and two Casinos could be here. Start making the area a tourist destination again.

[bmbear]

Looks like no golf course,too bad.Thought the PIB finally got their ( *#^@ ) together ,but I guess not...

[totoro]

Arrowleaf is not the only project. PIB has a website that shows a couple others too: http://www.pibdc.ca/economic-developmen ... rtunities/

I hope Arrowleaf goes ahead - and a golf course, vineyards and winery are part of the plan: http://www.pibdc.ca/business/arrowleaf/

I would like to see the Band get ahead like Osoyoos and Westbank have. Good for the local economy too. Most of the buildable land near town off-Reserve has already been developed.