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Intrawest company selling Caribbean resort

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Intrawest is taking its first foray into the Caribbean real estate market with a luxury 85-residence development in the Turks and Caicos Islands.

A British based company will develop the upscale Veranda seaside resort community on more than eight acres, while an Intrawest company, Playground Destination Properties, will sell the properties.

This development is a step towards marketing and management and fee-based operations, as opposed to building and developing projects – a direction Intrawest is increasingly trying to move towards.

The 85 homes will be a mix of beach-front villas, single-family townhomes and condos. They will range in price from $440,000 to over $4 million Cdn.

The development will be unveiled today in Vancouver and it will go on sale in mid-May in the Turks and Caicos.

The island nation is about a 90-minute plane ride from Miami. It boasts one of the largest coral reef systems in the world, as well as some of the best scuba diving and beaches.

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