from "Sylvan Lake Visitors Choice 2002"
When it comes to real estate and development, Sylvan Lake has seen tremendous growth in the last six years. The landscape continues to change as developers move in to create new and exciting investment opportunities. The community's population has witnessed a 30 percent increase since 1996, and now boasts a population of more htan 7,000. A population growth of seven percent per year is forecasted for the next five-to-six years. Most of the growth has come from individuals age 35-44, a demographic group that recognizes the family benefit of life in Sylvan Lake.
Given the population increase, it comes as no surprise that Sylvan Lake is seeing a boom in real estate development. That's good news not just for developers, but for real estate agents, insurance brokers, financial institutions, construction companies and numerous other local business that reap rewards from their location in an economically sizzling climate. Home owners are also postioned to benefit, as property values are increasing annually, making the prospect of home ownership an evne more tempting idea for those still renting. Many residents who already own a home are even signing up for a second residence - and what better place to do it than Sylvan Lake.
Lifestyle is the primary attraction at Sylvan Lake, says Lorne Therriault, who works for Re/Max Real Estate. Sometimes referred to as Alberta's Kelowna, this charming town offers surroundings unparelleled anywhere else in the province. There's the cleanest and most beautiful lake in Alberta, as well as a fantastic sandy beach and numerous outdoor activities, including boating, fishing and top quality golf. These are some of the reasons why moer and more people are moving here.
Sylvan Lake is bracing itself for another year of construction, with last year's construction valued at a whopping $30 million. Falcon Homes is the community's largest local home builder, and apparently, one of the most respected. Recently, local businesses, customers and trades voted the company business of the year, which was awarded to them by the Chamber of Commerce. Company owners, brothers Kevin and Gary Pardy among other family members, have been steadily building more new homes every year since 1997, and their superb reputation speaks volumes of the quality of their workmanship.
The brothers grew up learning that anything worth doing was worth doing perfectly. They've taken that motto to heart in their business, and thus have seen great success throughout Sylvan Lake. "We're grateful to our trades for superior workmanship that has been consistently provided since we began in 1997," says Kevin Pardy. Falcon Homes is building 50 percent more homes this year than it did last year, as well as working on a 13,200 square-foot commercial building on Highway 11.
Drive around Sylvan Lake and you may spot signs for Newport Village, one of the upcoming developments by Laebon Homes. Construction began in the fall of 2001, and the village is unique in that area zoning permits the development of garden suites, which can be used as a studio or as guest quarters. The 25-year old company has four in-house designers who create and modify home floor plans for customers to suit their imaginations and individual needs.
Laebon Homes, soon to be renowned for its attractive homes in Newport Village, received the Ralph Scurfield Memorial Award for Excellence in 2001, an award named for a leader and pioneer in Alberta's residential construction industry.
The residential and commerical boom in Sylvan Lake is helping to keep A-1 Tree Services busy. Owners Lance and Shelley Befus offer services that include landscaping design and maintenance, fencing, bobcat services, lot clearing and tree removal. When they aren't busy servicing local residents and developers, A-1 is assisting other industries integral to the local economy, and providing services in the oilfields.
Hewlett Park, located on Sylvan Lake's east side, is in it's fifth year of development. The area boasts affordable housing in a great location, and its residents enjoy close proximity to the beach, nearby schools and recreational activiites including ball diamonds, soccer pitches and an outdoor hockey rink. Many area residents are employed in Red Deer and find that Hewlett Park's east side location gives them the easiest access to that city.
Hewlett Park also offers the increasingly popular option of condo living in attractive Hinshaw Heights, with maintenance-free condos that feature open floor plans, a central hot tub and gazebo along with plenty of storage space. Residents enjoy the combined comforts of a single-family dwellings, such as a double-car garage, with the conveniences of a small condominium complex.
Construction of Hewlett Park Landing, a village-like shopping mall with a natuical theme that will provide a variety of services to the residents of Hewlett Park, Hinshaw Heights and Sylvan Lake, began in Spring 2001. There's the 39,000 square-foot Extra Foods & Gas Bar that opened in September, as well as Lakeside Castle Building Centre, a 20,000 square foot facility specializing in hardware and lumber.
The coming months will witness the grand openings of All Aboard Fine Wine and Spirits, SeaBreeze Cleaners, Your Dollar Store with More, Bella from Head to Toe, and Sandcastle Cove, a unique furniture and art store. There's also a planned 5,700 square-foot professional building and a free-standing building containing restaurants, a financial institution and other retail and entertainment facilities, which will open by fall of 2002.
Bear Development Corp, a partnership between BECA International and Abbey Homes, is no stranger to the area. With Rainbow Park and Chateau Suites under development, Sylvan Lake has been a great investment for owners Bert Messier and Art Anastasi.
Construction of the maintenance-free, resort-like complex of Rainbow Park begain in the fall of 1998 and today it's in its final phase. A new design is being offered to buyers, with some units containing a den that could serve as a second bedroom. The marketplace has shown that this structure is ideal for a major share of the population. All units come with fireplaces and five appliances.
The creation of Sylvan Bay Resort is well underway with construction in action on Chateau Suites. Located between the waterslide and the famous pier, the upscale condominiums by Bear Development will include a lake front view, a boardwalk, future restaurant and shopping. It will also encompass the Wild Rapids Waterslides, a future conference centre and a hotel. A show suite at 5027 Lakeshore Drive is a definite must-see if you're looking for a lifestyle-on-the-lake.
While the economic activity within Sylvan Lake is hot, many people have chosen to settle in one of the communities surrounding the lake. A five-minute drive north past Jarvis Bay, a new development called Birchcliff Estates is catching attention because of its lake-view lots. More than 50 percent of the lots were pre-sold, and construction is scheduled to begin in June 2002. The lots span 1.5 to 2.7 acres, featuring green space and a beautiful, west-facing lake view. With property values around the lake skyrocketing, Birchcliff Estates represents a great investment and lifestyle opportunity.
Though more and more people are coming to Sylvan Lake, area residents work together to preserve the community's small-town charm and historical heritage. Though development is booming, it's affected neither the crystal waters of the lake, nor the small-town elegance that makes Sylvan Lake a terrific place to live.