Port McNicoll, Ontario
FOR IMMEDIATE RELEASE
SKYLINE INTERNATIONAL BUYS
HORSESHOE
VALLEY RESORT – FORMS LARGEST FOUR SEASON
RESORT COMMUNITY IN CANADA
TORONTO – (July 15, 2008)
Skyline International Development
Inc., a privately held corporation with extensive commercial, residential,
hotel, recreational and media holdings in Ontario and Quebec, today announced
completion of the acquisition of Horseshoe Valley Resort, one of Ontario’s
largest year-round recreation properties. The Ontario resort was purchased by
Skyline for $37 million.
The strategic acquisition when combined with Skyline’s existing Port McNicoll
project on nearby Georgian Bay will result in the creation of the largest
full-service, year-round, master-planned recreational destination in Canada,”
says Gil Blutrich, Skyline
founder and president. An added bonus is the proximity to Toronto – just an hour
away.
“The acquisition is a natural fit with the 825-acre, master-planned
waterfront community we already have underway in Port McNicoll,” he says. “The
addition of Horseshoe Valley with its ski hills, trails and pair of world-class
golf courses gives us an extraordinary opportunity to offer both Canadians and
foreign residents a year-round resort village.”
Port McNicoll (www.portmcnicoll.ca)
sits on 825 acres fronting 10 km on South Georgian Bay on land that was formerly
the home base for CP Rail’s Great Lakes shipping operations. Now under
development as a master-planned, year-round resort community with 60% of the
first phase already sold prior to officially launching the project, it will
include a variety of residential housing, a marina, an elegant hotel,
restaurants, shops, a private yacht club and more than 400 acres of natural
preserved wetlands. Port McNicoll includes four magnificent bays, among them the
second largest historic harbour in the province and with its deep water, offers
some of Ontario’s best boating and fishing.
Horseshoe Valley Resort (www.horseshoeresort.com)
includes 688 acres of land, 23 ski runs, 35 kilometres of cross country trails,
two established golf courses ranked in the top 50 in Canada, 8,000-square-feet
of executive meeting and banquet facilities, a 102-room hotel and spa and
related operations. Skyline plans to retain all existing employees and current
management, says Mr. Blutrich.
The property also offers future development opportunity for up to 937 new
homes as well as retail and commercial space.
“Both communities are no more than 20 minutes drive apart and each
compliments the other,” adds Ram Dinary, chief executive officer. “Port McNicoll
has the splendors of Georgian Bay while Horseshoe the joys of the ski hills in
the heart of Ontario’s world renowned cottage country.” “
There is enormous pent-up demand not just among the residents of Ontario but
also among foreign markets for second and even first homes in this area, known
globally for its natural beauty and tremendous range of recreational
activities,” adds Mr. Dinary. “Baby boomers see the benefits of the proximity to
both Midland, just 5 minutes away and Barrie, just 10 minutes both of which
offer all the services one may need. In addition, the appeal of a full service,
four season resort community literally within commuting distance from Toronto is
very attractive.”
Skyline International Development Inc. has a proven track record in both real
estate development and the hospitality industry through previous projects. On
the hotel side its holdings and management include Toronto’s Pantages Suites
Hotel & Spa (www.pantageshotel.com)
and the award-winning Cosmopolitan Toronto Hotel & Spa (www.cosmotoronto.com)
which is the only hotel in Canada listed in the top 60 hotels in the world by
Conde Naste Magazine and was recently recognized by Expedia in the top 1% of
hotels in the world.
Skyline is currently planning a new office, hotel and residential tower on
one of the last skyscraper sites in a key downtown Toronto location.
Skyline’s expertise is spread across four main areas: revenue producing
properties, hotels and resorts, development, and asset management (www.skylineinvestments.com).
Yossi Kaplan, MBA
Specializing in Condos, Lofts, Investments and New Developments
www.UrbanRealtyToronto.com
www.YorkvilleLuxuryRealEstate.com
www.PortMcNicollRealEstate.com
www.CityVIP1.com
