Silver Creek Lodge Real Estate
What You Get
Silver Creek Lodge is one of Silver Star Mountain's most luxurious private owner guest accommodations, known for its spacious rooms, cozy mountain atmosphere and spectacular views of Silver Star Mountain and The Monashee Range. Located in the heart of Silver Star Mountain Village, access to skiing is right out the front doors. Village attractions such as Shopping, Restaurants, Guest Services, and Entertainment are just steps away.
Your choice of spacious fully furnished accommodations, all with outdoor balconies is available:
Studio Suite (540 square feet)
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Features:
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- one queen-sized bed, set of bunk beds, and fold out queen sofa bed
- fully equipped kitchen with stove/oven, refrigerator, microwave and built-in dishwasher
- furnished living room with gas fireplace, cable colour television and VCR unit, along with dining room table and 6 chairs
- full bathroom
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Deluxe Suite (606 square feet)
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Features:
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- private sleeping room with Queen bed, separate bunk bed area and queen sofa bed
- fully equipped kitchen with stove/oven, refrigerator, microwave and built-in dishwasher, along with dining room table and 6 chairs.
- furnished living room with gas fireplace, cable colour television and VCR unit
- full bathroom
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Superior Suite (726 square feet)
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Features:
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- private sleeping room with Queen bed and full bathroom, separate bunk bed area and queen sofa bed
- fully equipped kitchen with stove/oven, refrigerator, microwave and built-in dishwasher, along with dining room table and 6 chairs.
- furnished living room with gas fireplace, cable colour television and VCR unit
- separate full bathroom
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Executive Suite (794 square feet)
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Features:
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- largest corner units with panoramic views
- private sleeping room with Queen bed and ensuite bathroom/shower, separate bunk bed area and queen sofa bed
- fully equipped kitchen with stove/oven, refrigerator, microwave and built-in dishwasher, along with dining room table and 6 chairs.
- furnished living room with gas fireplace, cable colour television and VCR unit
- separate full bathroom
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Building Features:
Heated Underground Parking
Owners and guests at Silver Creek enjoy the benefits of a 32 stall heated underground parkade along with ample outside parking in nearby Parking Lot "A"
Deluxe Outside Hot Tub Deck
Located right on the roof of Silver Creek with handy elevator and stairwell access, The Deck has 2 over-sized hot tub with separate change areas.
Laundry Facilities
Washers and dryers located conveniently off the 4th floor lobby
Separate Owner Storage and Ski Storage Areas
Private Owner Lockers are conveniently located in the heated indoor parkade, while ski storage areas for owners and guests are located right alongside the main entrance. Snap on the skis or snowboards and ski right to the lift. Silver Creek also provides heated indoor ski lockers for paying guests, a great feature
Building Security
All guestrooms, indoor parking, ski locker areas, and hot tub stairwell are accessed by key card only ensuring protection for owners and guests. Additionally, Silver Creek is security patrolled daily by operations management.
Exercise Room
Located in the main entry area Silver Creek Lodge Exercise Facility is a great way to tone up. State of the Art equipment includes recumbent bike, elliptical trainer and a universal strength-training unit. Washroom and Change area is located conveniently in the Exercise Area
Owner Benefits
Silver Creek Owners and prospective purchasers are part of a unique business arrangement designed to maximize revenues and profitability. Key features of the Silver Creek Program are:
Rental and Cost Pooling Agreement
At the time of purchase all owners subscribed to a "Rental and Cost Pooling Agreement" (The Agreement) whereby all revenues and expenses are pooled and each owner shares in a predetermined share of the operating profitability (based on size as well as original selling price of the unit). Essentially this means that whether an individual owner's unit is rented or not he/she/they share in any revenue generated except on those occasions where an owner is occupying the unit. On that occasion the owner is naturally exempt from revenue participation.
In addition to Operating Expenses" The Agreement" covers a myriad of expenses that in most cases are billed directly to the Owner, such as:
| Telephones & Cable |
all telephone and cable television fees are paid on behalf of the owners at group rates lower than individual rates. |
| Utilities |
all utility bills are collectively paid on the owner's behalf |
| Insurance |
building and contents insurance is covered in the pool expenses |
Cost Sharing Agreement
The Strata Council for Silver Creek has entered into a Cost-Sharing Agreement with two adjacent hotels, The Vance Creek Hotel and The Chilcoot Lodge and Conference Center Hotel, each managed under agreement with C&R Hospitality Management (The Manager).Together with Silver Creek, these properties are jointly marketed and rented under the banner "Silver Star Club Resort"
There are two distinct advantages to this alliance:
1) Marketing
Silver Star Club resort produces its own combined sales material, attends trade shows, conducts sales calls, organizes conferences and has a full-time in-house sales and reservation department to handle booking and information requests for all three properties. In addition to the regular winter ski market, Silver Star Club Resort handles more group tour and conference business than all other accommodation properties on Silver Star Mountain combined. Statistics show that the distribution of this business has benefited all three properties.
2) Shared Cost Savings
Sharing the costs of providing the services of such departments as Front Desk, Marketing, Security and Administration & General provides key owner benefits.
- More extensive coverage than would be normally affordable to guests as well as owners.
- Costs are lower than if each property were to provide these services independently
3) Owner Usage
There are ample opportunities for owner to maximize personal use of their units, while at the same time ensuring that there is adequate lead-time for the Manager to market the revenue potential for each unit.
- Primary Owner Bookings
As part of the initial purchase agreement Owners have the right to book his/her unit for multi-night stay. The only condition is that these owner usage days be booked no more than 2 years and no less than 6 months in advance of the required occupancy dates. During Owner stay, the Owners do not participate in the Revenue Pooling portion of the "Revenue and Cost Pooling Agreement"
- Short Notice Bookings
Having allotted sufficient marketing time to the Manager, Owners may book their unit at any time space is still available 48 hrs or less in advance. A unique feature of this arrangement is that as long as there is space available in any unit, even though their own unit may be booked, available space in another Owner's Unit will be offered. On such occasions, the Owner is charged an occupied room for their personal unit.
4) Reserve Funds
As part of "The Agreement" owners, over the past several years have amassed impressive Reserve Funds that are now in place to cover a variety of contingencies:
- Contingency Reserve Fund
The Contingency Reserve Fund (CRF) is in place to cover a variety of major building related costs i.e. roof, foundation, structural, facia repairs, boilers and equipment, elevators, paving, common areas such as hallways, stairwells, hot tub areas and lobby
- Furnishings, Fixtures and Equipment (F.F. & E.) Fund
Owners currently contribute 4% of Gross Revenues to cover costs associated with maintaining each owner unit in a like new condition. Whether it be a television or appliance replacement, new carpeting, or new furniture, the owner bears no additional expense other than the monthly contribution.
Contingency Reserve Funds are now in place at satisfactory levels so no further owner contributions are presently required. F.F. & E, funding are maintained at adequate levels to ensure needed repairs and replacements to Owner Units.
All Reserve Funds stay with the Rental Pool and Strata Corporation, thusly any new owners inherit the benefit of the funds collected.
Thanks to the contributions to CRF and FF&E Funds by Owners during the start up years, along with effective Strata Management, Silver Creek Owners now enjoy relatively low Strata Fees when compared to many other Strata Properties.
What's for Sale
Silver Creek Units are completely sold at present. For updated information on any resale units which may be available please contact a Vernon Realtor
