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My Take on Snow Lake - March 24, 2017

Golden Vista drops their down payments
The Golden Vista block in fall 2016.
The Golden Vista block in fall 2016.

People contemplating a move into Snow Lake’s Golden Vista Block just got the news they needed to make their decision and those currently living there received something in their collective stocking as well.

Golden Vista president Dave Koop says that there has been a change in the lease agreement with block tenants, which will result in the incremental refund of the $50,000 down payments for current tenants. The same change will mean that new tenants to the block will no longer be required to put up the down payment. Koop and his fellow investors feel that the $50,000 upfront requirement has been a detriment to filling the block. They know that people can see the benefits of living in the facility; however, the large outlay of cash is what is holding them back.

Hudbay, the company that initially came onboard to help move the project forward, is also involved in current efforts to allow it to become self-sufficient.

The mining company became involved in 2014 when southern lenders were not prepared to take a chance on a northern project in a single-industry town … regardless of the promise of the Lalor ore deposit. At that time, Hudbay held two of the suites in the block, but increased their holding to 14 in total ($700,000) and provided the financing to finish the project. They planned to use the building as a bridge for families of people hiring on with Hudbay and moving to Snow Lake. Suites would be used until people decided to stay and buy into the community, or chose to move along.

The current situation resulted in the last year or so. Hudbay has not been using the facility as they had originally intended. They have also changed management and have been looking at ways to cut costs. They approached Golden Vista shareholders and asked how they could help entice local people into the block. It was suggested that adding each suite’s down payment to the original Hudbay financing would make the block much more affordable to the people pondering a move.

Koop feels this move will entice those who were trying to sell their current home before moving into Golden Vista. He says it will allow prospective tenants to look at renting their property for a period until they can sell, knowing that they don’t have to come up with a large down payment to make the move. “People talk and those who are already in the block love it,” explained Koop “Their friends are saying that if they didn’t have to put the $50,000 down, they’d be in there too.”

In talking to current block tenants, they concur with Koop. “Can’t beat it… I don’t have to shovel snow. I don’t have to cut the grass, and I don’t have to pay taxes,” said 97-year-old Ben Foord as he looked down from his second-floor window at Snow Lake. “You have a ground-level garage … what do you have to worry about?”

“We love our new pad,” said third floor tenants Cathy and Greg Erickson. “The sunsets and view are amazing. We like the bush view as well; you don’t feel you’re in an apartment block. Having access to the common room for larger family gatherings is great or even just to gather all the residents for a visit like we did on New Year’s Eve. We are enjoying our new apartment, our neighbours and being back in Snow Lake.”

“With the convenience of an in-suite laundry, an elevator to the third floor and a ground-level heated garage, we are enjoying living at Golden Vista,” said third floor tenants Mona and Jack Forsyth. “Friends and family gather in the spacious common room on the first floor. In the summer our decks are a great place to sit and relax. We are very happy that we chose to sell our house and move into Golden Vista. It’s a wonderful place to live and spend our senior years!”

“Our common room on the first floor overlooks our lake and lets in lots of natural light; it’s furnished with comfortable couches, a large TV, and electric fireplace and full kitchen facilities,” first floor tenant Vi Wood added. “We have a very special custodian, always helpful, wearing his smile every time he comes around.”

The block itself features three levels, with six suites on each floor, all serviced by an elevator. On each floor there are two 914 sq. ft. one-bedroom units, two 1031 sq. ft. central two-bedroom units, and two 1133 sq. ft. lakeside two-bedroom units, for a total of 18. The lake can be seen, unobstructed, from the patio of all units and the view of the forest and subdivision is quite pleasing as well. Everything is included with the suites other than washer, dryer, parking ($100 per month), phone and cable. There is Wi-Fi on every floor and the building features a large common room on the bottom floor that is accessible to all tenants and available to book for tenant family functions. Plans for 2017 include landscaping to the lakeshore and a dock on the lake for tenant use.

Koop says that they look forward to people taking advantage of this new development. “People will realize that with the cost of maintenance on their current property, taxes, insurance and whatnot, the cost of living in Golden Vista is no more than what they are paying already,” he said. “Add to this that there is virtually nothing to worry about as far as a lawn or snow, or even plugging in your car.”

Koop says they plan to hold a spring 2017 open house and that he is available by phone for walk-throughs.

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