VIP Priority Reservation | Frequently Asked Questions

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Now Selling!  Phase 1
The Chalets at Halcyon Hot Springs Village and Spa

Halcyon Hot Springs - a world renowned for its natural healing waters - is evolving into quiet, lakeside village. The team at Halcyon Hot Springs is excited to be offering luxury vacation home opportunities in a spectacular setting overlooking the serene Arrow Lakes. Located 68km south of Revelstoke, BC, the resort is only 5 hours from Calgary and 7 hours from Vancouver, yet once you arrive, you'll feel like you're a world away.

The luxury chalets feature large open floor plans with awe-inspiring views of Arrow Lake and the rugged snow-capped mountains beyond. Comfortable and charming the Chalets include 2 bedrooms plus a loft area, gourmet kitchen and inviting living area with a fireplace. Each chalet comes completely furnished to complement the natural, but contemporary interior design.

The original Timber Chalets, built in true timer frame construction feature comfortable designs in our natural setting.

Our team is committed to presenting a high quality product combined with a high level of service and integrity.

We are only able to offer eleven Chalets in Phase I. The Phase I offering includes five of our original Timber Chalets and six new Village Chalet Homes. Each of the Village Chalet Homes consist of two separate living units, one upstairs and one downstairs with separate entrances.

There will be only a very limited number of buyers in this initial introduction of ownership at Halcyon. We have received great interest with several of the Vacation Homes already sold and we expect all of the homes will be gone quickly.

Call us to find out more. 1-888-689-4699 ext. 104 or email us at development@halcyon-hotsprings.com

VIP

Join our VIP list for the opportunity to receive updated information and news regarding the Halcyon Development.

Should you have any questions or if you require more information I would be more than happy to contact you personally. If you would like me to do so please reply to this e-mail and state how you would like me to reach you. You may also contact me directly at 1-888-689-4699 ext. 104 or by email at development@halcyon-hotsprings.com.

Kind regards,
Sabine Burmeister

If financing your vacation home is part of your plan you may wish to contact Richard Smith at Tekamar Mortgages at 1-800-658-2345 by phone, 1-888-811-3900 by fax, or visit Tekamar’s website www.verico.ca/tekamar for information on financing and mortgages. Richard has provided financing to Halcyon and is very familiar with the properties and the resort. It has been our experience that Richard’s rates and service are excellent and he is confident that he can provide funds at the lowest interest. In what appears to be a cycle of increasing rates I would respectfully suggest contacting Richard as soon as possible to take the steps necessary to lock in a mortgage rate for your purchase.

FREQUENTLY ASKED QUESTIONS

In order to assist with the understanding of resort home ownership at Halcyon Hot Springs Village and Spa we have prepared a summary of the most frequently asked questions. While we trust this will provide additional information please feel free to call our Director of Sales Sabine Burmeister at 1(888)689-4699 local 104 or email her at Sabine@halcyon-hotsprings.com if there are any other questions you have, or information or documents you would like.

The questions and answers that follow are in most cases summaries of information that can be found in much greater detail in the documents that are located on the secure portion of the website. Access to the secure portion of the site is open to all Priority Registrants. If you would like to establish a priority position with respect to purchasing or even considering a resort home at Halcyon this year we would encourage you to complete and return the Priority Registration Form (LINK). There will be only eleven homes available this year and we anticipate all will be sold to Priority Registrants.

In that the following are general summaries. Where there is any conflict between the following information and the information contained in the Disclosure Statement or any of the documents that have or will form part of the agreements entered into with respect to home ownership at Halcyon, then the Disclosure Statements and agreements shall prevail.

If you have any additional questions please let us know as we would like to continually update this section of our site.

THE BENEFITS OF HALCYON RESORT HOME OWNERSHIP

1. Why should I consider Halcyon Hot Springs Village and Spa for my Resort Home?

A. In our opinion Halcyon offers one of the best resort home opportunities in British Columbia.

We are truly a four seasons resort; our favourite question is “What is the season for a hot springs?” We are open 365 days a year and we are in active operation every one of those days. So, come out and enjoy your vacation home summer or winter, spring or fall, every season offers something special (and if you cannot get out for a visit then let us rent your home for you)

Halcyon is located right on the waterfront of the beautiful and pristine Arrow Lake. Waterfront has proven to be one of the best real estate investments. While we recommend you buy at Halcyon for the use and enjoyment of the resort, we also think that Halcyon is a great choice if you are looking for real estate.

We are in one of the last few undiscovered areas in southern British Columbia, and development is now happening. Whether it be the new Mount Revelstoke ski resort development, whose first offering earlier this year sold out as soon as it came on the market, or the other properties up and down the valley, growth is happening in our region.

We are a full service resort in a peaceful and scenic lakeshore setting.

Enjoy the tranquility and quiet your home provides, walk in the forest or sit by the lake; take a short walk and enjoy the best of a full service resort, whether it be a dip in the hot pools, a romantic dinner prepared by our Swiss Chefs at the Kingfisher Restaurant, or a relaxing massage or other spa treatment

Construction costs have been increasing significantly over the last few years. While we cannot predict the cost of building new resort homes we do not think that we will be able to offer our next phase at the Phase I price levels.

Finally, only the Phase I buyers will enjoy the benefits of “getting in on the ground floor”.

Come out, have a look, compare. Then make your choice.

Purchase and Sale

1. Are the vacation homes part of a strata corporation?
A: Yes, all of the homes are strata title units and accordingly every home owner will be a member of the strata corporation, and an owner of the strata corporation’s common property (roads and park land).

2. What is a strata title and a strata corporation?
A: A strata title is a form of home ownership that is registered at the Land Title Office, and involves ownership of individual parcels of real property (your home) as well as ownership, in common with other members of the strata corporation, of certain common property. At Halcyon owners will have title to their individual homes and will own a common interest in all of the other land and amenities within the strata plan. This method of acquiring registered title to real estate is the most common method of ownership of resort properties.

3. When I purchase a home, what will I own?
A: Ownership includes a fully furnished resort chalet. We are selling five Timber Chalets, these are individual free standing single unit strata title homes, and six Village Chalets, these are up and down duplex, free standing, two strata title homes. You will also own an interest in the common property that forms part of the strata. Title to your home as well as your interest in the common property will be registered at the Land Title Office.

4. Are you selling individual strata units in the Village Chalets?
A: Each Village Chalet consists of two strata lots joined by a lock off. This allows the upper unit and lower unit to be rented separately, or with the lock off open, used as a single large resort home. It is likely that each of the Village Chalets will be sold to one owner, however individual units, that is the upper unit or the lower unit may be available.

5. Are the units being sold as fractional or full ownership?
A: Halcyon is selling full ownership units only. You will exclusively own, enjoy and have the use of your resort home all year round.

6. What is the closing date for sales?
A: The closing date for all sales can be arranged on an individual basis

8. How much are the strata fees and what do they cover?
A: Halcyon’s strata fees vary with the size (unit entitlement) of each unit. The strata fees compare very favorably with other resort properties in British Columbia. The interim strata budget and the strata fees are fully set out in the Disclosure Statement on the secure portion of the web site. This site is available to all Priority Registrants.

9. Are there any restrictions on resale?
A: You may resell your resort home at any time and there are no restrictions on resale. There are some formalities to complete and some reasonable conditions (such as all future bookings needing to be honoured). Full details regarding resale are contained in the Disclosure Statement, which is on the secure portion of the web site. Access to this portion of the site is through a user name and password provided to all Priority Registrants.

10. If I buy a Village Chalet, that is an up and down duplex with two living units, can I sell just one of them?
A: Yes, an owner of a Village Chalet can sell one or both of their units at any time.

11. If I purchase a home in this offering will I receive any preference with respect to the next offering (which will include additional units along the lake)?
A: It is the intention of the Developer, Halcyon Hot Springs Resort Ltd., to give priority on the next phase of development to all of the Phase I Home Buyers. Halcyon intends to establish a priority system that will provide the Phase I Home Owners with the opportunity to select a home in the next offering before Halcyon provides availability to the public.

Rentals

1. Will you rent my home for me when I am not using it?
A: Yes. Halcyon has operated as a destination resort for many years and it is our hope that you will choose to have your home rented out on a nightly basis so we can continue to provide for the accommodation needs of our many guests

2. Do I have to rent my home?
A. No. Whether or not you rent your home is entirely your decision. . All owners will sign a rental management agreement with Halcyon; full details of this are contained in the Disclosure Statement, but all Owners will then have the option, but are not required at any time, of placing their home in the Halcyon Hot Springs Rental Management Program. We anticipate however that most Home Owners will likely choose to enjoy the benefits of the income and management that Halcyon will provide pursuant to the Rental Management agreement.

3. Can I rent out my unit privately?
A: The Rental Management Agreement requires that Halcyon manage the rental of all of the homes. This is being done to ensure all accommodation and services at Halcyon Hot Springs Resort are maintained to a uniformly high standard. Halcyon wishes to protect both the interest of the home owners, individually and as a group, and the interest, goodwill and reputation that has been developed by the resort itself.

4. If I am part of the rental management system can I use my home whenever I wish?
A: Home owners can use their home whenever they like. However, in accordance with the Rental Management Agreement, advanced scheduling is required in order to guarantee your home has not been rented to resort guests. For any times a home is not pre booked it is available for use by an owner and, in the event it is pre booked, Halcyon will make reasonable attempts to relocate guests to alternate accommodation.

5. Can I live in my unit either seasonally or full time?
A: Yes, this is your home. If you wish to live in it, full or part time, you can do so. Of course any existing and outstanding rental commitments/reservations for your home will need to be honoured. Currently several interested parties are contemplating retiring and making Halcyon either their full time or seasonal residence.

6. Can you tell me how much rental revenue a specific home typically generates?
A: Past room occupancy and revenue data is available on a home by home basis to Priority Registrants upon request.

7. What is the rental management fee, and what services are provided by the rental manager?
A: The home rental revenue is divided equally between the Owner and Halcyon in accordance with the terms of the Rental Management Agreement. Halcyon provides full resort management services including advertising, accounting and administration, front desk and guest management, reservation management, housekeeping, guest supplies, in addition to many other amenities and services that are reasonably required as part of the rental program. Full details are provided in the Rental Management Agreement.

8. Are all homes rented in a fair and equitable manner?
A: The rental manager will make all reasonable efforts to ensure homes are rented in an equitable fashion. While it is anticipated that this will result in an equitable sharing of home rental revenues amongst all Home Owners, factors such as the amount and timing of an Owner’s use, seasonal factors, and guest preferences will have an impact on how much rental revenue is generated from each home.

9. What is the process for distribution of rental income?
A: Halcyon will issue rental revenue cheques quarterly. Payments will be made within 45 days of the end of each of the fiscal quarters (the end of March, June, September, and December).

10. What happens if a rental occupant damages my unit?
A: The rental manager will use reasonable efforts to recover the total cost of all damage from the person who caused it. This will most often be accomplished by billing an occupant’s credit card. To avoid small claims Halcyon will pay any unrecoverable damages of $250 or less. Owners will be responsible for damage claims in excess of $250 but significant damage claims, while rare, may be claimed under a Home Owner’s insurance policy.

Ownership Details

1. Can I have pets in my unit?
A: Pets are allowed as long as they are in accordance with the strata bylaws. The strata bylaws allow for a maximum of 2 dogs or cats, or a reasonable number of other permitted animals (full details are available in the strata bylaws on the secure web site). You may request that your unit be designated as “pet friendly” or “pet free”. This may result in either an increase or decrease in rental requests.

2. Can I smoke in my unit?
A: You are the owner of the home and can choose to designate your unit as “smoking” or “non-smoking”. Similar to the situation with pets, this may have an impact on the rental revenue that is generated by your home.

3. Where can I park my vehicle?
A: Parking is available near all of the homes. Halcyon will manage all of the parking in the resort in order to maintain safety, accessibility, road clearing and maintenance, as well as convenience for all home owners and guests. Limited parking for large vehicles, boats, or other needs, is usually available.

4. Who is responsible for maintenance of the exterior of my unit?
A: The strata corporation is responsible for the maintenance of the exteriors of the units, however the homes have been designed and built to reduce maintenance costs.

5. Who is responsible for maintenance of the interior of my unit?
A: The owner is responsible for the maintenance of the interiors of the units, however as part of the Rental Management Program, Halcyon will attend to day to day cleaning and maintenance. Again full details are available in the Disclosure Statement and the Rental Management Agreement located on the secure section of the web site.

6. Who is responsible for the replacement of furniture and on what frequency will this occur?
A: The Owner is responsible for the replacement of furniture, as needed. If an Owner is participating in the rental management system then, in order to maintain the desirability of the home and to insure that it is suitable for rental occupancy, it is anticipated that furniture replacement, to some degree at least, will be required every 5-7 years. If an Owner is not a member of the rental management system then replacement of furniture will be entirely at their discretion.

The Resort

1. What are the plans for future development at Halcyon Hot Springs?
A: Halcyon has had created a master plan for development of the resort. The plan includes further development of the spa facilities and programs, enhancement of the hot springs pools, and increased access to the lake and waterfront. In addition there are plans to enhance the winter recreation opportunities, including access to the newly developing Revelstoke Mountain Resort ski resort. The needs and desires of our home owners and guests will also assist us in determining what other amenities and services Halcyon should consider. Certainly, it is anticipated that there will be continued development of additional accommodation.

2. What will be the next stage of development at the resort?
A. Before adding any further accommodation or other facilities Halcyon will make significant improvements to the resort infrastructure. These improvements, in roads, utilities and water services, will establish the framework for the next phase of home development.

3. What are your plans for the lakeshore?
A: The resort has approximately one half a mile of waterfront on Arrow Lake. We see the development of water related activities as being a significant attraction for our owners and guests. Plans call for increasing access to and along the lakeshore, and the development of facilities to enhance boating and float plane accessibility.

4. Can I keep a boat at Halcyon?
A: Halcyon is commencing discussions with the appropriate authorities to establish both moorage and improved lake accessibility and utilization. Limited access is currently available and some short and long term boat storage will be made available to home owners.

5. Can I land a floatplane on the lake?
A: Yes, floatplanes utilize the lake and many visitors have use floatplanes to visit the resort.

6. As an Owner what will my access to the hot springs be?
A: The Phase I home buyers will be given complimentary unlimited pool access through to the end of 2008. A program providing ongoing preferential access for owners will be offered including preferential rates and annual passes.

Revenues and Costs related to Ownership

1. What can I expect in ongoing revenues and what can I expect in ongoing costs.
A. The laws of British Columbia preclude Halcyon from making any representations with respect to the future revenues that homes will generate. Fortunately we do have historical data that provides information on past occupancy levels, rental rates, and overall income. This data will be provided on request to Priority Registrants. With respect to costs, home owners will incur similar types of costs to other strata properties, that is strata fees, property taxes and insurance for contents and liability coverage (insurance on the building is included in the strata fees). In addition home owners will pay the utility costs (electricity and, in some units, propane for fireplaces) for their homes and, if they are in the rental management program, or otherwise wish, for a “communications package” consisting of telephone, internet access and satellite television service for your home. This package will be provided by the resort.

2. How much are the property taxes?
A. Property taxes are determined and collected directly by the provincial government. Taxes are a function of value, classification, and tax rate. In that these properties are the first sold by Halcyon we do not have historical data on the amount of taxes that the province will assess. We expect of course it will be in line with other similar resort properties that are not located within municipal boundaries, that is, at a lower cost than municipal/city taxes.