$40-million residential development about to launch at Sylvan Lake
The first homes in a $40-million residential development on the northeast side of Sylvan Lake could soon be under construction.
Belterra Land Company Ltd. has launched Phase 1 of The Slopes of Sylvan Lake, a 49-home project near the Summer Village of Birchcliff. Company president Chris Artibello said water and sanitary sewer lines have been installed, site grading has been completed and paving should begin this month.
“Some of the builders are starting to apply for some of the show homes now,” he said.
The first phase will consist of 25 homes on lots ranging in size from 0.15 to 0.75 acres. Options include semi-detached villa homes, single-family homes and estate homes — some with lake views.
Belterra has owned the 50-acre site for about 5 1/2 years, and had hoped to begin development sooner, said Artibello.
But the current timelines are working in its favour.
“Now that the market is really turning, the response has been phenomenal,” he said. “I don’t know that we would have had that same response two years ago.”
As it is, The Slopes of Sylvan Lake will be the first developed under Lacombe County’s new Sylvan Lake area structure plan.
“We’re the first to tie into the new lift station for the regional wastewater line, which all existing and new developments will be required to do eventually,” said Artibello.
Belterra is also building a $1.5-million dollar water treatment facility to provide pressurized water for The Slopes of Sylvan Lake, and an on-site water storage system for fire protection.
Other features include a year-round recreation area with a multi-purpose sport court, central ponds, and paved and shale trails.
The paved trails will tie into a regional system, said Artibello. “At some point in the future of Sylvan Lake you’ll be able to ride your bike around the whole lake.”
He described The Slopes of Sylvan Lake as “quasi-rural living,” with about half of the area devoted to greenspace.
“I think for the watershed as a whole this is the way you’re going to see the lake be built out over the next 15 to 20 years.”
Prices for villa homes begin at just under $700,000. Estate home and lake-view lots start in the $300,000s, with Artibello anticipating the value of finished estate homes to be as high as $1.5 million.
Belterra is pursuing other residential development projects in the region. These include one near Half Moon Bay and another east of Red Deer.
The company will host an open house at The Slopes of Sylvan Lake on Aug. 17 from noon to 5 p.m.