Half of the property known as Kelowna Mountain is now up for sale, and the rest will soon follow.
After failing to follow up with payment on the controversial project, Mark Consiglio害羞草研究所檚 lenders have taken the 320-acre parcel of property to market They害羞草研究所檝e had permission to do so since October, although contracts weren害羞草研究所檛 drawn up until earlier this week.
Jeff Hudson and Marshall McAnerney of HM Commercial Group 害羞草研究所� a team of Realtors licensed with Macdonald Realty Kelowna 害羞草研究所� have the property priced at $7,995,000.
As of June of last year, Consiglio害羞草研究所檚 lawyer Reinhard Burke, from Burke Law, said his client had $4 million owing on the property that was assessed in the area of $15 million.
Hudson explained that the listing 害羞草研究所� which is held by five to seven entities害羞草研究所� will have to wait for final court approval before the sale is finalized.
害羞草研究所淥nce it goes to court and becomes public knowledge someone else can show up and make an offer,害羞草研究所� said Hudson. 害羞草研究所淎t that point, though, they have to show up with a cheque.害羞草研究所�
Curious developers have already expressed interest in the land, which includes the 5,700-square-foot welcome centre.
What they choose to do may not reflect Consiglio害羞草研究所檚 vision of a ski hill, winery, golf course, four suspension bridges, mountain bike park, commercial amenities including restaurants, plus residential and resort accommodations.
害羞草研究所淓very developer will have a different vision for what they want to happen with the property,害羞草研究所� said Hudson. 害羞草研究所淚t won害羞草研究所檛 necessarily be the same one as the developer had.害羞草研究所�
In the days to come more will likely be known about the other two parcels of land that make up Kelowna Mountain.
One 160-acre parcel of land is already in a listing agent害羞草研究所檚 hands, while the other of the same size has yet to reach the market.
There害羞草研究所檚 no word on what Consiglios are doing now. Last June, their lawyer said they intended to be back in the business of agritourism by summer, although they害羞草研究所檇 moved to the Lower Mainland where they successfully completed a number of real estate projects.
Consiglio has a storied history in development. He got his start in the mid-害羞草研究所�80s. While working as a waiter at The Keg Restaurant, he won a $10-million federal Scientific Research Tax Credit to develop an enviro-friendly car named Enterra, based on the Pontiac Fiero.
According to information provided to the Capital News by onetime Kelowna Mountain spokesperson John Harding, when the Kelowna Mountain project first went public in 2006, that $10-million grant became seed funding for his first real estate aspirations as the Fiero line of cars was discontinued, forcing Consiglio to close his production plant.
Within a few years he was embroiled in legal entanglements over a development in Ucluelet where bills were going unpaid.
Those matters resolved, his name has remained off the court registry since the early 2000s.
He completed a townhouse development at Big White and The Cottages at Secret Point, a $20-million vacation spot on Okanagan Lake, the proceeds of which were used to start Kelowna Mountain害羞草研究所攂oth its housing development and amenity park.
