What are the building timeframe requirements?
Building permits are required by 30 months from completion/closing. Construction to begin at 36 months and completed 24 months later.
How much do you require for a deposit?
A 10% non-refundable deposit is required at time of contract of purchase and sale.
What are the anticipated taxes over and above the purchase price of home sites at Montane?
Typical land ownership costs over and above the purchase price of a home site includes 5% GST and BC Property Transfer Tax (1% on the first $200,000 and 2% on the remaining).
How will the Rentcharge payment work? How are costs calculated?
The Terraces at Montane is a Fee Simple subdivision. A Rentcharge will be applied annually to each home site owner for the purpose of paying for the cost of snow removal on sidewalks, soccer field and trail maintenance, which will be administered by the Developer. Annual Rent charge fees are $895 per home site. Rent charge is solely a cost recovery fee, which the developer continues to maintain at reasonable levels. Any increase in the Annual Rent charge is restricted to a maximum of 5% annually.
What is included in my services and what do I need to cover as a property owner?
Servicing includes City of Fernie supplied water and sewage, electricity serviced by the British Columbia Hydro and Power Authority or a competing provider, natural gas supplied by Fortis, BC or a competing provider, access will be managed by the City of Fernie. The City of Fernie will provide road maintenance and snow clearing. Prior to commencement of construction, owners of home sites are required to obtain a building permit from the City of Fernie. Payment of the City of Fernie hook-up fees and Development Cost Charges will be required at the time of issuance of a building permit.
How will the costs for the community farm be determined? When will this be developed?
A small community educational farm program is intended to allow individuals or groups access the 30- acres of land surrounding the historic Old Barn for agricultural and educational purposes. Opportunities will be identified for the owners of Montane to support programs and participate in the enjoyment of the produce. This will be strictly on a volunteer basis. Parastone will be developing these programs in 2018.
Can I choose not to opt into the community farm?
There is no obligation to the community farm or programs.
Is the maintenance person for the Community Farm paid from property owners?
No. The Community Farm operations will be funded through opt in only Montane Community Farm programs.
Who can build my home?
We have 5 preferred builders:
- Beacon Project Management
- Element Homes
- Elk River Mountain Homes
- Larsen Whelan Enterprises
- Parastone Developments
Where are the multi-family sites and what will the homes look like?
Montane is a staged development. There are no multi-family sites in The Terraces. Multi-family will occur in future development areas, as per our master plan.
How many homes will be built in total?
Montane is a multi-phased development, comprised of over 600 acres of land with over 70% preserved for green space and recreational access. Currently the first four phases of Montane, including The Terraces will include 68 homesites.
Is the golf course still possible with this development?
Golf is not planned as an amenity for this development.
Who is Parastone?
Parastone Developments is a landmark construction development company located in Fernie BC. ‘Landmark construction’ requires careful planning, solid professional services and a commitment to enhance land through the creation of signature communities. Parastone is recognized for various commercial developments and restorations, along with larger residential projects including 901 Fernie and Veneto Place, both located in Fernie’s heritage downtown area.
How is the project being financed?
Developer has arranged conditional mortgage financing for the construction of the development.
When can building begin – what services are currently installed?
Building may commence upon completion of servicing and City approvals. The Terraces, phases 1 through 3 are sold out and available for building. The Terraces, phase 4 is anticipated to be available for building in October 2018.
How do we make a purchase?
Please contact Dan McSkimming or Alan Young from the Elk Valley ReMax sales team.