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Current Work

February 12, 2016

New Monaco Progressing Towards Subdivision

New Monaco is progressing as planned towards creating Canada’s Healthiest Sustainable Community.  Our subdivision application is currently under review, and we anticipate approvals within the next few months.  We have a number of potential tenants that would like to expand their business to New Monaco. Once subdivision approval is complete, we will be in a position to structure tenancy agreements with them. We look forward to starting our construction in the near future.

May 11, 2015

New Monaco Prepares Application

The New Monaco team is pleased to announce that we are progressing faster than ever.  The site plans and building schematics are progressing very well, we continue to work with Peachland Staff to fulfill our commitments to the community of Peachland, and we expect to be making application for subdivision, development permit, and building permit later this fall.  We are currently recruiting investors and tenants and will provide regular updates to share our progress.

December 12, 2014

New Monaco Moves Forward As Winter Settles In

Congratulations to Mayor Fortin and the new council members - you clearly represent the direction Peachland wants to go. It is a significant commitment of personal time and freedom to the overall good of the community.

Our team has met most of the new councilors and the scope of expertise and the energy is obvious. Their priorities of economic development, downtown revitalization, seniors housing, arts and culture and many more are exciting.

We thank the outgoing mayor and councilors for their commitment to Peachland and their support of the New Monaco project.

Investor’s Reception

In early December, a reception was held in Edmonton to thank the core group of investors on the New Monaco project. What was envisioned as a small intimate event grew to nearly 80 people, as friends and families of investors joined the celebration. The response to the concept of the major health centre initiative and our mission to build the healthiest neighbourhood in Canada were positive and will act as stimulus for further investment.

Mayor Fortin and Councilor Schierbeck both attended and their speeches clearly impressed all in attendance as they demonstrated Peachland’s commitment to economic development.

Fire Mitigation

Some Peachland residents who enjoy walking the New Monaco property for recreational walks and hikes may have noticed workers cutting down dead trees in the area near Walker Road. We have been working with Peachland’s Fire Chief to implement a wildfire risk mitigation plan, which includes removal of potential dead trees and branches to minimize the fire risk to the community.

Current Internal Work

Our team’s work now has largely turned internal as we have a lot of work to do before we are ready to ask for more guidance from the community on items we are working on.

Engineering

We have been working out a strategy with our engineering team to proceed shortly on finalizing our negotiations and agreement with Ministry of Transportation on the access plan from Highways 97 and 97C. We hope to have a full new plan and supporting studies to submit to them in a few months. We are also starting work on identifying options for rights-of-way for water and sewer lines, as well as conveyance paths for major one-in-200 yr storms.

Farm Development

It will be a few years before all design, engineering and approvals are finished and construction is started, so we have committed to the enhancement of current agricultural uses in the meantime. The lease with the current orchardists has been renewed for three years. A lease has also been signed with James Blonde to develop a lavender farm in the central area of the site. Site planning for the farm is underway and the first batch of plants have been ordered. Hopefully by next summer walks in the area will be nicely scented with the smell of lavender blowing in the summer winds.

UBC Projects

We continue to work with UBC on a large research project about water and energy innovations for Peachland. Year one is now complete with excellent outcomes. This was the result of major effort by several PhD and post-doctorate engineers and others. Peachland invested several thousand dollars as a partner and received close to $150,000 in research and consulting value from the partnership. The partnership opportunity for year two of the study was presented to the new mayor and councilors and we hope they will support the it for another year. We are working with UBC as well to bring in more partners to add more resources so Peachland will receive even greater leverage and value for their investment.

Marketing

Our team held a full day work session on the project’s marketing approaches this month to prepare investment and tenant recruitment strategies, as we get ready for residential pre-sale. A detailed evaluation of many of the cornerstone elements of the project was done, in order to refine our approach, tenant recruitment strategies, workplan, and schedule.

Appraisals

To support both investment and recruitment of potential development partners, significant financial work is now being done to support two levels of appraisals of the project. The first level is what the site is worth after rezoning, and the second level is what it may be worth after the first phases of development. Appraisals are complicated, especially when they involve a broad scope of components, so it will take a few months to complete.

Happy Holidays

We wish you and your families the very best this holiday season and we look forward to ongoing and new conversations in the new year on helping Peachland achieve its amazing potential while protecting all that we love about it. Stay warm – and we’ll see you in the New Year.



October 27, 2014 - Press Release

Next steps for New Monaco following zoning approval

With news of unanimous approval by Peachland Council October 14th , zoning is now legally enacted. This sets into motion the next phase of the project’s development.

This step is one of the most important in any development project as it allows the rights to develop (in exchange for many community amenities) and permits a developer to begin engaging the market with presales and pre-lease agreements. It also signals to the investment community that this project has community support and that it is far more secure than any project without zoning.

Now that this milestone has been achieved, progress is being made in several areas. These include:

  • Refining the concept site plan so it will create the most desirable destination experience possible;

  • Proceeding through many months of engineering design for water, sanitary, storm water and road systems;

  • Completing the negotiation with Ministry of Transport to get approval for a detailed highway access design;

  • Moving forward on the next phase of equity investment recruitment – so there are plenty of resources to complete Phase 1 when it is ready to go;

  • Preparing to recruit many businesses into the project;

  • Preparing materials for marketing and sales;

  • Completing additional planning work on arts, heritage, amenities and housing.

Most of this work is technical in nature so the project will have a low profile in Peachland over the upcoming months – but the New Monaco team still be working hard toward the goal of starting construction as soon as possible.

Other noteworthy news includes renewal of the lease for the orchard, as well as a lease with a local famer,who intends to develop a lavender farm in the central part of the site. This will keep the land productive until development begins.

On one final note – wildfire fuel mitigation work has begun this fall for everyone’s safety, including dropping snags, removing ladder etc., so if action is observed on the hillside of the New Monaco site, that is what is happening.

Feel free to contact us at any time. Thank you.

Mark Holland mark.holland@newmonaco.ca

October 15, 2014 - Press Release

New Monaco Peachland Development

Achieves Unanimous Final Approval

EDMONTON, ALBERTA: Edmonton-based New Monaco LP received unanimous zoning approvals from Peachland city council during a fourth and final reading held Tuesday, October 14th.

The approval process, designed to identify and resolve conditions, ensures all requirements for the project to move forward are met. Approval allows the development to formally proceed and will include construction of a new highway access and other important infrastructure.

“We are thrilled with the result," says Vice-President of Development, Mark Holland. "Years of hard work and dedication by the New Monaco team have led to this moment. We commend Peachland for having the vision to include the project in its plans for the growth, prosperity and development of the region."

New Monaco is a master-planned, mixed-use sustainable community concept. It won the prestigious Award for Planning Excellence from the Canadian Institute of Planners in 2012. The walkable village concept integrates an office commercial district anchored by a comprehensive wellness, learning, and technology hub. When completed, the 125-acre development will be home to more than 5000 residents, a full service hotel, desirable retail and innovative wine tourism, along with organic gardens, parks and nature trails. It will also include a wide range of quality homes for young families, luxury residences for the discerning buyers and a full amenity community for seniors. Art studios and galleries, performance spaces for music and cultural events form the heart of this complete community.

New Monaco strives to create Canada’s healthiest sustainable community providing on site access to extended education, entertainment, shopping and a wide range of career and business opportunities. It is also designed to have direct express access to world class university. It is not only a place to live, work, play and learn, but also a premier leisure, tourism and wellness destination.



For more information contact:

Ilan Cooley

780-420-1555

ilan@loudmouthcommunications.com


or

Mark Holland

250-713-9789

mark.holland@newmonaco.ca

September 3, 2014

New Monaco is excited to announce it is in the final stages of the approval process for zoning with Peachland Council. The current focus is to prepare for the Forth Reading (and legal enactment) on the zoning approval process. In Peachland, there are four readings given to formally enact any new zoning.

Fourth Reading is the final review and decision by Council, after any conditions placed during the third reading have been met. New Monaco is projected to go before Council on September 30 or October 14, 2014.

In order to meet all legal requirements, the New Monaco team is working with Peachland Council on covenants to be placed on the land that prohibits any development until the commitments that were made in the Phased Development Agreement have been met as agreed and MOTI has approved a highway interchange design.

The discussion regarding covenants is going smoothly and is in its final stages, with the first covenants to be registered against title shortly.

Click here for more information about the approval process and timelines.

Peachland Council has a five-step approval process. The first four steps have already been achieved. They include:

  • First Reading: a formal receipt of the application in a council meeting. If accepted, a recommendation that the applicant undertake public consultation and work with staff on refining the application. This occurred on November 26th, 2013.

  • Second Reading: Another Council review, including any updates made due to consultation, and a Council agreement to send the application to Public Hearing to formally hear from the public. This occurred on April 22nd, 2014.

  • Public Hearing: A legal public hearing is held and Council considers the application after hearing the public comments. This occurred on May 20th, 2014.

  • Third Reading: Council makes a final decision about whether to approve the application for zoning, including attaching any final conditions it wishes to. This occurred on May 27, 2014.





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