The Alexander aims to level up Sylvan Lake offerings
When it comes to fashionable tourist destinations within driving distance of Edmonton or Calgary, could Sylvan Lake be the new Canmore?
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A Calgary-based developer says it has the potential and has launched presales of a lakefront condo development set to take the Central Alberta town to the next level.
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The Alexander, by Belterra Land Co., is a 44-unit low-rise mixed-use development on the site of Racoon Lodge, an aging two-storey motel on Lakeshore Drive. With more visitors every year than other close-to-homeish resorts such as Kimberley, Revelstoke or Fernie, transformative projects like this will put Sylvan Lake up there with elite destinations like Canmore, says Stella Tsang, a realtor working with Belterra's marketing team.
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'Sylvan Lake is a hidden gem. A lot of people like the small town feel and also the touristy feel. It's maybe not as sexy as Canmore or Banff, but it still has 1.1 million visitors every year. The challenge is that there aren't many places to take in, except for the lake. This building will bring a lot of excitement to Sylvan in terms of commercial spaces and new places to stay,' she says.
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The Alexander will have one-, two- and three-bedroom suites with two-bathroom options and penthouse units, most with expansive north and west-facing balconies. Despite its waterfront location and potentially high water table as experienced in other areas of town, the building has been cleared for underground parking. Condo association rules will allow for vacation rentals, and Tsang says there will be on-site property management to assist owners wanting to rent their homes out for a weekend or for the season. This is an option, Tsang says, as she believes most buyers will purchase for their personal use.
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'We just want to be flexible,' she says.
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The building's design underwent several revisions until Belterra and town council were satisfied with the appearance and with the connectivity with Lakeshore Drive. The building has a breezeway and 9,000 square feet of retail space, which Tsang hopes will feature a restaurant, coffee shop, bakery, an arcade, a spa and other desirable shops and services.
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Murals depicting Sylvan Lake's past, which includes the town's first hotel and the building's namesake — The Alexander Hotel — and Varsity Hall which stood on the site prior to Racoon Lodge, will be featured in the lobby of the building.
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'Everything we do is very community oriented, connecting back to the history of the town. So many people remember Varsity Hall with joy because it was such a big part of Sylvan Lake back in the day,' Tsang says.
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