Interest on The Rise

By Richard Rolke - Vernon Morning Star Published: January 08, 2009

A new owner could be in the works for a large resort development in Vernon. There has been both international and national interest in The Rise since it was placed up for sale in November. “We have had people from the U.S. look at the property and people locally look at the property. There is a lot of interest,” said Marshall MacLeod, senior sales associate with CB Richard Ellis, which is looking after the sales listing. According to the CB Richard Ellis website, the listing includes a 735-acre resort with low-density residential uses, resort commercial uses, a vineyard and winery, a network of parks and trails and a championship golf course. “We’ve had people looking at the project — driving the site and flying over it,” said Leona Snider, president of The Rise. “People are amazed by the property, the project and the style. Vernon has a jewel here.”MacLeod would not provide any details on the prospective purchasers. “It’s possible something could happen by the end of this month or in early February,” he said.“There are parties we are talking to but nothing I can confirm at this point.” Snider is hopeful that there may be some progress on a sale fairly soon.“They (realtors) are talking to several people this week,” she said.

Mayor Wayne Lippert is pleased to hear that the potential sale of The Rise is moving ahead.“I’m quite hopeful something will happen there,” he said. “The Rise is a good development and even with the current economic times, the Okanagan is a good investment.” The asking price is currently not being disclosed.In November, officials with The Rise indicated that the property was being sold because of the global financial crisis and the economic slowdown affecting the housing market.