The 1200ha Jacks Point site will have an 18-hole golf course and 600 visitor apartments.
The 1200ha Jacks Point site will have an 18-hole golf course and 600 visitor apartments.
KEY POINTS:
A Canadian-based resort operator will market the first stage of the $2 billion Jacks Point residential development being built near Queenstown.
Intrawest ULC of Vancouver will pre-sell the project's first 600 units.
The company has interests in nine North American resorts and owns the world's largest heli-skiing operation,Alpine Helicopters, through its Canadian Mountain Holidays.
The Canadians will not need official permission to join the New Zealanders on the Queenstown development.
The Government's Overseas Investment Office has applied for a blanket exemption to the Queenstown property, meaning any overseas investor can buy in without having to apply for clearance.
Stuart Carson, a senior vice-president at Intrawest, said people overseas were interested in Queenstown and the Jacks Point development.
"We see huge potential in this development," Carson said.
Intrawest's interests include Canadian skiing resort Whistler Blackcomb, Sandestin Golf and Beach Resort in Florida and Club Intrawest, a resort chain in North America and Europe.
Work has begun on the first 200 homes and an 18-hole golf course opens in October. Roads and bridges are also to be built.
Christchurch developer John Darby and business partner George Kerr, formerly of Brook Asset Management, formed Equity Partners Land Group to develop the site.
They were joined by other investors including Hong Kong-based SEA Holdings and its chiefs Jesse Lu and Don Fletcher.
Darby said Fletcher and Lu sold out last year. The Canadians would sell the visitor units at Jacks Point and their contribution would be via marketing and distribution.
What is Jacks Point?
* New township under the Remarkables.
* Set beside a 4ha man-made lake.
* A 1200ha site for 1800 houses.
* 600 visitor apartments to be built.
* 150-room luxury hotel planned.
* Major new Canadian investor.
