The Westin Bear Mountain Golf Resort and Spa could be on the market soon.
Owner Ecoasis Developments announced today that it has hired an advisor, JLL, to complete a strategic review of Bear Mountain that could result in a sale or business combination of some or all assets.
“We started discussing this strategic review a couple of months ago,” said David Clarke, Ecoasis’ chief financial officer. “Any review like this can have any number of different outcomes … What we’re focusing on right now is doing what’s best for the community.”
While the review is underway there is no estimated timeline for when it may be completed. Clarke noted that as information becomes available through this process it will be made available to residents and the community.
Clarke noted the aim of the review is to outline any potential partnerships or insights that could take the Bear Mountain community from where it is today to the next level. “There’s a lot of community to build out and we want to see who the best fit for that would be.”
The resort and surrounding development spans more than 770 acres on Skirt Mountain in Langford. The community has an existing population of 3,000 residents and that is predicted to grow to roughly 10,000 in the coming years.
“Bear Mountain represents a rare opportunity to acquire a world class development project of significant scale,” said Jon Ramscar, JLL senior vice president, in a statement. “It represents one of the largest active development opportunities in Canada, with existing zoning and infrastructure in place for immediate development.”
New clay tennis courts are set to open in the coming weeks, two of the development’s real estate projects have just sold out their first phases and the second phases for those projects will be available soon. Ecoasis is also preparing to host the PGA Tour Pacific Links Bear Mountain Championship event again in September.
“All of those things we’ve been doing will continue … This will just take place in the background,” Clarke said. “It’s business as usual.”