VANCOUVER, BRITISH COLUMBIA and BOWEN ISLAND, BRITISH COLUMBIA--(Marketwire - July 4, 2012) - The Cape on Bowen, a $100 million oceanfront community is redefining in the Vancouver oceanfront property market with its value proposition. While a typical Vancouver West oceanfront property (MLS#: V945716) in Point Grey with an old home, in need of renovations, system upgrades or even demolition, averages close to $1100+/sq.ft. for 0.1 acre, The Cape on Bowen's oceanfront property ranges in cost from $3.90 - $8.45/sq.ft. for 10 acres. Compared to Vancouver West oceanfront property, The Cape averages 0.5% of the cost /sq. ft. for 100 times the lot size.
With beaches, shorelines and deep woods that have been virtually untouched for over 50 years, The Cape on Bowen represents a once-in-a-lifetime opportunity to build a dream home on a vast, private and exclusive estate rather than pay high prices for a multi-million dollar fixer upper with substantially less land, limited ocean frontage and no potential for private moorage. (see Value Fact Sheet for more information on comparisons with live MLS listings).
Located on the southwest tip of Bowen Island, The Cape on Bowen is 30 minutes by water taxi to downtown Vancouver or a 20 minute ferry to Horseshoe Bay. It recently launched its second phase of oceanfront property as 65% of its 1st phase, or 9 home sites, sold over 5 summer months last year. During the same period, the entire Metro Vancouver and Gulf Islands region sold 8 luxury waterfront home sites.
"We are leading Vancouver's luxury oceanfront properties market and able to sell more home sites than the entire Metro Vancouver and Gulf Island region combined because smart buyers recognize the value proposition," says Don Ho, partner, the Cape on Bowen, "The appeal of secluded living on Bowen Island, while remaining so close to the city, is proving very popular with buyers looking to create a legacy home for family and future generations."
West Vancouver is comprised of some of the most beautiful and expensive oceanfront real estate in Canada, but it pales in comparison to the value offered at The Cape on Bowen. A typical West Vancouver oceanfront property (MLS#: V940680) with an old home is approximately $400+/sq.ft. for about 1/4 acre. In comparison, with home sites ranging in cost from $3.90 - $8.45/sq.ft. for 10 acres, The Cape is 1.5% of the per square foot cost but 40 times the lot size.
"The Cape on Bowen offers ideal living for those who are looking to enjoy island serenity and an active lifestyle, and to be in touch with nature, but still require convenient access to Vancouver and everything it has to offer," says Edwin Lee, partner, The Cape on Bowen.
Bowen Island is the closest island to downtown Vancouver and there is extensive ocean frontage with private moorage potential for waterfront lots at the Cape on Bowen. Comparatively, there is no private moorage potential as well as very limited ocean frontage for properties in West Vancouver and Vancouver West.
Tours of the property are available and a new sales centre has opened up in Vancouver at 1147 Homer Street. Phone number: 1-866-710-0003.
The Cape on Bowen www.thecapeonbowen.ca
The Cape on Bowen is a $100 million oceanfront community located on the entire southwest tip of Bowen Island in British Columbia. It is made up of 59 ten acre estate home sites that offer a unique opportunity to create a legacy home on a previously undeveloped south facing island property in the Strait of Georgia. The Cape on Bowen Community Development Limited is developing the Cape on Bowen and a joint venture between the Trans City Group of Companies, led by Don Ho and the Leeda Developments Group, led by Edwin Lee.