Master Plan Update #2 - May 14, 2008

Master Plan Approved for Transformation of
Ski & Ride Smithers

20|20 Group www.2020groupinc.com is pleased to announce the Ministry of Tourism, Sports and the Arts (MTSA) has approved the Master Plan for the development of Hudson Bay Mountain located in Smithers, BC.

 

“This is a vital first step in our long term plan and lays the groundwork for bringing our vision of a vibrant residential component to Northern BC’s best ski experience” says Mr. Lorne Borgal, President of 20|20 Group. “We are very optimistic about the continued growth of Smithers and the Bulkley Valley, with the expansion of the airport runway, the dynamic growth of the Port of Prince Rupert and mining in the region. Over time we expect to see this region attract increasing attention from the broader national and international marketplace.”

 

The Master Plan will allow for a new lift, expanded ski area and residential land development on the mountain which will start to take shape in the first phase of the redevelopment. The first release of lots is anticipated to come to the market in the fall of 2008 with the first lots ready for construction by the fall of 2009. Sandra Hinchliffe of ReMax Bulkley Valley is handling sales for the development.

 

“20|20 Properties’ re-development of Ski & Ride Smithers will provide much needed capital investment in the recreational infrastructure on the ski hill and will be a major boost to tourism in the region.” says Peter Walters, Executive Director of the Resort Development Branch.

 

Over two-thirds of the targeted initial $3.9 million investment has already been secured by 20|20 Investments, with the remainder expected to be completed by the end of May. Further information on the investment opportunity is available at www.2020investments.com.

 

20|20 Group is a comprehensive real estate development and investment company specializing in multi-family and resort development in Canada, Mexico and the United States. 20|20 Group has developed over $1 billion in real estate since 2000. 20|20 Properties, 20|20 Resorts and 20|20 Investments are Divisions of the 20|20 Group with its head office located in Vancouver, British Columbia.