Hyde Mountain Golf Resort near Sicamous has been sold to a company based in Kelowna.
PintoWest Properties Inc. secured $5.3 million from company owners/members to purchase the 264 acre property on Mara Lake in Sicamous.They will also be providing additional funding for the property’s development.
In addition to new development at the property, Hyde Mountain will be getting a new name.
PintoWest closed the deal and took possession of the property on June 15.
It includes an 18-hole golf course, a marina, restaurant and bar, pro shop and helicopter pad.
There is potential for development of up to 1,000 units on the property, which could be residential, RV lots, a hotel or recreational unit. Development of 150 boat slips in the marina could also occur.
PintoWest says plans are underway for these developments and hopes to begin them this month.
PintoWest was formally FirstShot Fund Inc., a company which had subsidiaries in the U.S. until it said business challenges due to the pandemic arose. It sold those subsidiaries, as well as its Canadian parent company, Listing Llama Inc., and announced its re-brand to PintoWest in April 2021.
The company will now only be pursuing real estate and development in western Canada. Hyde Mountain Golf Resort is its first acquisition.