The Globe & Mail, Mary Lynn Young, June 10, 2005
Big money in British Columbia used to mean lumber and mining, such as forestry’s giant H.R. MacMillan or the Keevil family of Teck Cominco. More recent fortunes originated in real estate and consumer industries, as in local tycoon Jimmy Pattison’s legion of car dealerships and grocery stores.
Today, however, there is a growing class of new urban rich in the province.
Business in Vancouver, Paul Harris, June 7-15, 2005
Ambitious and potentially far-reaching, a business plan is taking shape to transform a B.C. mining ghost town into a magnet for corporate retreats and eco-tourism.
Having been listed for $7 million, Kitsault in northwestern B.C. was recently purchased for cash by Indian-born entrepreneur Krish Suthanthiran.
The deal includes approximately 90 houses and duplexes, seven apartment buildings, an equipped hospital,
The Real Estate Guide, Susan M. Boyce, Feb 25-March 11, 2005
LandQuest Realty has sold Kitsault!
Psst. Wanna buy a town? Yeah, that’s right. A whole town. You know: houses, stores, library, restaurant, rec centres, school. A whole town.
Sure, it’s not every day that an entire town goes up for sale, but that’s exactly what’s happening in Kitsault, British Columbia- and at an asking price of only $7 million,
Times Community Newspapers, Jason Jacks – March 2, 2005
In stark contrast to the American Wild West ghost town image of dirt roads and crumbling brothels and brew halls, Kitsault’s collection of tidy streets and manicured lawns hugging the rocky shoreline of a Canadian fjord is downright suburban.
“It’s a modern ghost town,” said John Wheatley, the town’s caretaker for almost two decades.
However, more interesting to this neck of the woods is that this abandoned mining community,
Alison Jenner, The Peak, February 2005, pgs 95-99
Islands. The mere mention of the word conjures up images of a warm sea breeze, sapphire-blue seas, and most importantly, tranquility. There are many reasons why people flock to the Maldives or some other secluded beach-front resort, but common among them is escaping the madness of modern society.
You may own a sprawling 8,000sqft mansion on the Peak, a private jet that will take you to your summer home in the Caribbean and a Rolls-Royce that allows you to travel in comfort and style.
The Real Estate Guide, Susan M. Boyce, February 11-25, 2005, pg 12
Don’t wait to buy land, buy land and wait. After more than three decades of successfully buying and selling recreational properties, that’s still the advice Rudy Nielsen, president of NIHO Land & Cattle Company, gives anyone who is considering land as an investment.
Successful Investing Takes Guts and Planning
The first step in buying recreational property,
Pulse24.com – January 31, 2005
It’s quiet. Too quiet. But now it’s up to a Virginia property developer to bring in the noise. The silent item is actually an abandoned British Columbia mining town that comes with a library, pub and hospital. The developer, who wasn’t identified, snatched all that up for under $7 million. Now he owns all of Kitsault, which is about 500 miles northwest of Vancouver, according to the town’s marketing agent.
Stuff.co.nz – January 27. 2005
VANCOUVER: An abandoned, but well-maintained, British Columbia mining town, complete with library, pub and hospital, has been sold to an unidentified Virginia property developer who must now decide what he wants to do with it.
The buyer paid less than $C7 million for Kitsault, located on a fjord near the Alaska Panhandle about 800 km northwest of Vancouver, the town’s marketing agent said on Tuesday.
Daniel Girard, Toronto Star, January 26, 2005
VANCOUVER—It’s a ghost town being brought back to life.
Kitsault, a deserted mining community in a spectacular part of northwestern British Columbia, has been sold, complete with about 130 hectares of land, 92 homes, seven apartment buildings, two recreation centres, a shopping mall and a hospital.
“It’s exciting to know that the lights are going to come on again,”
Bruce Constantineau, Vancouver Sun, January 25, 2005
The B.C. ghost town of Kitsault has been sold to U.S. developers who are now considering its possible reincarnation as a destination resort, a university town, or even a movie studio centre.
Virginia developer Shawn Weingast and partner Krishan Suthanthiran paid less than the $7-million asking price for the intact former mining community along Alice Arm on the remote northern coast.