KV Properties Inc. announced that a deal effectively closed last month to purchase Koocanusa Village. The Company has purchased 170 acres of the lakeside development know as Koocanusa Village from Calgary based Dennis Hockett.
KV Properties Inc. is comprised of predominantly Fernie and East Kootenay investors and lake Koocanusa recreationalists, with the largest shareholder being Reto Barrington. As part of the transaction the Company has purchased all of the remaining unsold strata lots in the two existing strata’s, all of the remaining development land, all shares in both utility companies, and the marina licenses.
“We are very excited to move forward with the goal of significantly enhancing the Koocanusa Village experience for existing owners, future owners and visitors,” said Reto Barrington, General Manager of KV Properties. “We would like to thank Dennis for his support and wish him the very best in this next chapter of his life.”
The Company will immediately focus on selling the existing inventory and creating a new lakeside community master plan. The existing inventory includes 19 strata lots in Lakefront Estates and 36 strata lots in Lakeview Terrace. The new master plan is targeted for completion by spring of 2019 and will govern the development of the balance of the lakeside community.
About Koocanusa Village
Koocanusa Village is a 170-acre lakeside family community on the shore of Lake Koocanusa in the East Kootenay region of Southeastern British Columbia, Canada.
It is a 3.5hr drive from Calgary, 1hr from Cranbrook, 3hrs from Lethbridge and 30 minutes from Fernie.
Koocanusa Village is the only lakeside community with vacation properties on Koocanusa Lake.
About Lake Koocanusa
Lake Koocanusa is one of the most beautiful lakes in Southeastern BC. It reaches 145 KM (90 M) in length and is formed north of the Libby Dam on the Kootenay River. It straddles the Canadian and U.S. border in Montana. Lake Koocanusa was named in a contest won by Alice Beers of Rexford, Montana. The name is made from the first three letters of the Kootenay River, Canada, and USA.
The lake is a beautiful turquoise colour with peaceful quiet and mirror-like stillness. The arid shoreline is home to sandy beaches with summer water temperatures averaging 25.5 C (78 F). The landscape features open grasslands with Ponderosa pine forests and spectacular views of the Rocky Mountains.