from "Discover Sylvan Lake: 2001, Voulme 18"
The influx of an estimated 1.3 million tourists per year has earned Sylvan Lake the reputation of a tourist town. However, there is far more to this community than just tourism. It is a family oriented small town with an infrastructure that is continually expanding to support its rapidly growing population.
Sylvan Lake is among the 50 fastest growing communities in Canada. According to the 2000 municipal census the town has a population of just over 7,000. Since 1996 there has been an average annual population increase of 458 personsm which is about 7% per capita.
Significant growth has occurred in residential areas, whilst commercial and industrial growth has inceased substantially over the last couple of years. The latter is a result of Town Council's decision a number of years ago to attract more commercial and light industrial development to Sylvan Lake.
"A number of studies and documents were prepared to attract business and this planning is now coming to fruition. With the development of commercial and light industrial areas we are now starting to have the ability to give the benefit back to the residents, for example, the building of recreational facilities such as the new aquatic centre," said the Town Manager Lyle Wack. The $2.5 million centre, which will have a six lane swimming pool, should be completed by the beginning of 2002. It is only the first phase of a recreation complex which will eventually include a twin arena and a curling rink.
Over the last two years close to 300 single family dwellings to the value of more than $33 million have been built in Sylvan Lake, with the principle growth areas being Fox Run and Hewlett Park. More than 700 single residential lots are expected to be developed, sold and built on within the next four years.
About half of the 600 planned lots in the 140 acre Fox Run subdivision have already been developed and sold. The first lots came up for sale in 1997. Keith Bickerton, who is in charge of slaes and development of the land, said 100 more lots will be developed this year. All the lots in the subdivision should be developed and sold by the end of 2003, with construction taking a few more years.
The development includes Fieldstone Landing, a large estate subdivision with 32 lots of about one third of an acre each. Almost a third of these lots have already been spoken for. An area of 7.5 acres just south of the new Fox Run/Mother Teresa School was set apart for starter homes. The rest of the lots in Fox Run are larger, standard type lots of about 50 to 60 feet wide and 120 to 125 feet deep.
Hewlett Park, which covers 207 acres, will eventually have 810 developed lots. These are mainly single residential lots with three multifamily sites for condos, duplexes or apartments. Since July 1995, 262 lots have been developed and 257 houses constructed. A further 92 lots will be developed this year. According to Gordon Davis, President of the Central Alberta Development Corporation, the area has about three years left at the present growth rate before all the lots will have been sold and the construction of homes completed. The company is catering to an affordable housing market although more expensive housing is available in the development.
Laebon Homes has bought a section of land behind Willow Springs for the development of a new community of single family starter homes. Newport Village, as the 34.9 acre area will be known, is zoned R6-TT. This stands for traditional town zoning, which requires that the exteriors of homes are architecturally authentic in detailing which follows Victorian, craftsman and traditional themes. The houses will allow for garden suites which can be used for extended family cottages, home offices and studios. According to a spokesman for Laebon Homes, the development will provide 150 lots for homes of 26 and 32 feet wide. The first 33 lots will be put up for sale this summer.
Realtors agree that it is the beauty of the town and the relaxed lifestyle that draw people to Sylvan Lake. Another factor, according to Dale Russell, broker/owner of RE/MAX real estate central Alberta, is that new homes in Sylvan Lake are on average between $15,000 and $20,000 less expensive than those of comparable standard in Red Deer. Many people live in Sylvan Lake and commute to work in Red Deer. He said there were about 246 residential sales transactions through the Multiple Listing System in Sylvan Lake the last year. This figure does not reflect all activity in the market place. The average selling time was about 60 to 70 days.
Dave Stinson, broker/owner of Reality World - Endeavour, said the majority of clients his company deals with are relocating from out of the province to take advantage of Alberta's robust economy and Sylvan Lake's exciting resort lifestyle. Another advantage of Sylvan Lake is the close proximity to major centres such as Red Deer, Calgary and Edmonton. The majority of buyers are young to middle aged families looking to purchase in a wide variety of price ranges, however, $130,000 to $185,000 seems to be the most active currently.
Mr. Russell said the market has changed from 10 years ago when the active time used to be from about March to the end of August. It is now active throughout the year, although it is still busier in spring and summer.
Richard Jacques, owner/broker of Century 21 Goldbar Realty (2000) Inc., said over the past five years he has found the housing market very active all year round. Mr. Stinson said each year there is the influx of recreational and cottage property transactions which tops up an overall strong year. He said the commercial end of the business had previously lagged behind the booming residential segment. Last year saw a large incease in commercial ventures. He expects to see a marked increase over last year in commercial activity as commercial and business investors are now recognizing that Sylvan Lake is quickly becoming a robust, sucessful free standing community.
Two private light industrial parks have been developed in the last year. The first phase (20 acres) of the East Side Industrial Park along Highway 11A comprises 12 lots slightly larger than an acre each. These lots have all been serviced and the roads have been paved. Three buildings of respectively 15,000, 8,000 and 6,000 square feet each have already been constructed and occupied and two other sales are currently pending, according to Jim Jardine of RE/MAX real estate central Alberta. He is optimistic that more and more companies will be taking an interest in Sylvan Lake, especially as the prices of industrial lots are considerably cheaper than those of equivalent ones in the City of Red Deer.
In the Beju Park highway commercial and light industrial subdivision east of Hewlett Park along Highway 20, 160 acres have been deemed for highway commerical and light industrial development. Last fall 19 lots on an area of about 30 acres were serviced in the first development phase of the park. Eight of these are highway commercial los and the rest light industrial. The second development phase will start this year, with 27 more lots being developed. According to Fred Lebedoff, development manager of the park, five lots in the first phase have already been sold and construction has started.
In the last year two permit applications have been taken out for new hotels in Sylvan Lake. The existing Sylvan Lake Hotel has proposed to be changed to a convention hotel with a brand new building of more than 100 rooms. An application by Bear Development for the building of a condominium with 52 one and two bedroom units along the waterfront has also been approved. These two developments alone will add up to more than $30 million being invested in the town - a sure sign of confidence in its growth. Long term plans by Bear Development also include a new high rise hotel and convention centre incorporating the waterslides.
Sylvan Lake will soon boast a new 139,600 square foot shopping centre offering a variety of services on the southeast corner of town. Preparation has started for the development of Hewlett Park Landing, which is also a Bear Development project. The targe date for the opening of Extra Foods, a 40,000 square foot grocery store in the centre, is mid-September 2001.
According to Bert Messier, President of Bear Development, about a third of the remaining retail space in the centre has already been leased or sold. Construction of four buildings, including Castle Building Supply Store, will start in May 2001. Other tennants will include the Anchor's Away Liquor Store, Bella from Head to Toe and a Dollar store. If everything goes according to plan, they will be moving in around June. A veterinary clinic will be opening in the late fall and in the meantime the developers are negotiating with other tenants, including a financial institution and two fast food restaurants.
When asked why his company has so much confidence in Sylvan Lake, Mr. Messier commented that this is not your normal small town. "People who have not been here for five to ten years find it hard to believe how much growth has taken place and the high quality of what has been done. The location of the town is what attracts people. It is centrally situated within a 90 minute drive of 2.5 million people. The lake does not only create a relaxed resort atmosphere but it is also one of the cleanest in the province and one of the few that is used 12 months of the year."