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Parastone on track for launch of newest neighbourhood
Locally owned construction and development company, Parastone, announced Sept. 25 that it has sold all 10 home sites located on the peripheral edge of its new master-planned community Montane.
This milestone marks the completion of the first stage of Parastone’s business plan to build Fernie’s newest neighbourhood.
“All 10 homesites sold within a few weeks, which was quicker than anticipated,” says Simon Howse, general manager of Parastone and investor in Montane. “Steady market conditions coupled with our competitive prices for homesites in a spectacular mountain setting was the recipe for success in selling out this preliminary phase.”
Located between Whitetail Drive and Cedar Bowl Place, the home sites sold to a broad demographic, comprised of mostly Fernie residents. Ranging between $140,000 and $240,000, the home sites line the southwestern edge of the parcel of land recently purchased by Parastone for development of Montane.
According to RE/MAX, as of June 30, 95 residential home sites sold in the first half of 2014 in the Kootenays. This indicates sales are on target to match or exceed last year’s total of 129 lots sold. The steady sale of residential home sites in the Kootenays is a positive indicator of favourable market conditions.
Howse continues: “The strong demand we’ve seen from the local market for mountain living is an extremely positive indicator for the development of Montane. Everything is unfolding as planned and we’re excited to be unveiling more details about Fernie’s newest neighbourhood.”
Parastone have launched the second stage of its business plan and are currently focused on the first release of homesites for Montane. Located one kilometre from downtown Fernie, the 660-acre community is inspired by the property’s physical and recreational connections to Fernie’s historic core.
Parastone’s master-planned vision for Montane offers mountain living with a west-facing aspect allowing for maximum sun exposure. Strategically designed to complement natural surroundings, individual homesites will optimize views of the spectacular mountain scenery.
Flanked by Brewery Creek and Coal Creek, Montane is home to numerous hiking trails and mountain bike trails. Established pedestrian/bike connections will be accessible within 100 metres of every home and feed in to an extensive multi-use trail system developed in partnership with the Fernie Trail Alliance.
The familiar historical neighbourhood landmark, ‘The Barn’, will be preserved to foster a sense of community at Montane and will be an ideal space to host local events.
Initial site preparation on Fernie’s newest multi-phase community began in June 2014.
Above photo: Montane’s mountain setting with its iconic barn
Parastone
