Mackenzie Avenue, Revelstoke by Ian Houghton on 500px
Despite being rainy and unusually warm, I had a great time in Revelstoke, BC. I first heard about the city a few years ago when I told a close friend of mine (who is an avid snowboarder) that I was going to Whistler. He told me: “Forget Whistler. Go to Revelstoke.”
Revelstoke has been on the map for skiers and snowboarders for decades. Some consider it to be the helicopter skiing capital of the world. But there are only so many people who can afford $1,000+ per day skiing, so it wasn’t until 2007 when the first gondola opened up on Mount Mackenzie that people started calling Revelstoke the next Whistler, the next Jackson Hole, the next Zermatt, and so on.
As both a snowboarder and a real estate developer, this is of course exciting. Everybody wants to be a part of the next big thing and they want to call it before anyone else. That’s how you make money – by being right about things before the masses catch on and/or when everyone else thinks you’re wrong.
But 2007 happens to come before 2008. And 2008 wasn’t a kind year to the real estate community. Revelstoke was no exception.
The condos at the base of the mountain weren’t selling (about half of the ones that did sell were sold to Canadians I was told). Expansion plans to become the largest ski resort in the world were scaled back. And the resort teetered on the brink of bankruptcy. But since then, new ownership has taken over the resort and the sentiment on the ground seems to be that Revelstoke – as a real estate play – is somewhere near the bottom.
But something even more interesting is happening in Revelstoke, beyond just luxury condos at the base of a mountain. And since I was on the disabled list for the second half of my vacation, I had time to explore.
I was fortunate enough to meet a local entrepreneur (who happened to also be from Toronto) and his message to me was clear: Ontario is moving in. Both talent and capital from Ontario are starting to flock to this small mountain town of almost 8,000 full-time residents (it’s technically classified as a city). And from my experience at the bars and restaurants in town, he appears to be right.
Now, you might be thinking these people are just ski bums looking for an excuse to live in a mountain town. But is that such a unique and bad thing? Today’s up and coming generation is looking for lifestyle + career. And so if your city or community can offer both, you have a competitive advantage when it comes to attracting talent.
Revelstoke knows they have the outdoor amenities and the “epic pow”, so now all they need to do is bring the businesses. And that’s exactly what Revelstoke wants to do. If you’re an entrepreneur or business owner, Revelstoke wants you to move there. I’m serious. The vision is to create a sustainable live, work, and play mountain community in the BC interior.
I hope that happens.
Drop me a line if you want to talk mountains and business.
Post Update: The beautiful photo of Revelstoke at the top of this post was taken by Ian Houghton out of BC. This is his business website and this is his Facebook page.
Mackenzie Avenue, Revelstoke by Ian Houghton on 500px
Despite being rainy and unusually warm, I had a great time in Revelstoke, BC. I first heard about the city a few years ago when I told a close friend of mine (who is an avid snowboarder) that I was going to Whistler. He told me: “Forget Whistler. Go to Revelstoke.”
Revelstoke has been on the map for skiers and snowboarders for decades. Some consider it to be the helicopter skiing capital of the world. But there are only so many people who can afford $1,000+ per day skiing, so it wasn’t until 2007 when the first gondola opened up on Mount Mackenzie that people started calling Revelstoke the next Whistler, the next Jackson Hole, the next Zermatt, and so on.
As both a snowboarder and a real estate developer, this is of course exciting. Everybody wants to be a part of the next big thing and they want to call it before anyone else. That’s how you make money – by being right about things before the masses catch on and/or when everyone else thinks you’re wrong.
But 2007 happens to come before 2008. And 2008 wasn’t a kind year to the real estate community. Revelstoke was no exception.
The condos at the base of the mountain weren’t selling (about half of the ones that did sell were sold to Canadians I was told). Expansion plans to become the largest ski resort in the world were scaled back. And the resort teetered on the brink of bankruptcy. But since then, new ownership has taken over the resort and the sentiment on the ground seems to be that Revelstoke – as a real estate play – is somewhere near the bottom.
But something even more interesting is happening in Revelstoke, beyond just luxury condos at the base of a mountain. And since I was on the disabled list for the second half of my vacation, I had time to explore.
I was fortunate enough to meet a local entrepreneur (who happened to also be from Toronto) and his message to me was clear: Ontario is moving in. Both talent and capital from Ontario are starting to flock to this small mountain town of almost 8,000 full-time residents (it’s technically classified as a city). And from my experience at the bars and restaurants in town, he appears to be right.
Now, you might be thinking these people are just ski bums looking for an excuse to live in a mountain town. But is that such a unique and bad thing? Today’s up and coming generation is looking for lifestyle + career. And so if your city or community can offer both, you have a competitive advantage when it comes to attracting talent.
Revelstoke knows they have the outdoor amenities and the “epic pow”, so now all they need to do is bring the businesses. And that’s exactly what Revelstoke wants to do. If you’re an entrepreneur or business owner, Revelstoke wants you to move there. I’m serious. The vision is to create a sustainable live, work, and play mountain community in the BC interior.
I hope that happens.
Drop me a line if you want to talk mountains and business.
Post Update: The beautiful photo of Revelstoke at the top of this post was taken by Ian Houghton out of BC. This is his business website and this is his Facebook page.
I’m sitting in Calgary International Airport right now waiting for my flight back to Toronto. This marks the end of the 6th Penn Annual (our annual ski and snowboard trip). We all had an amazing time and I can’t wait until next year’s annual. We’ve already (pretty much) decided that it’s going to be in Park City, Utah.
As you can probably tell, I like traditions and routines. As boring as that might sound, I think there’s a lot of value in doing the same thing over and over again.
It’s why I do an annual ski and snowboard trip every February with some of my closest friends (to a mountain we’ve never been to before). It’s why I write something – no matter how short it might be – every day here on Architect This City. It’s why I lift weights 3-4 times every week. It’s why I’m interested in brand building (creating equity takes consistency and time). It’s why I love the permanence of real estate. And it’s also why I like dollar cost averaging when it comes to investing.
I guess you could say I like the long game. I enjoy having “disciplines.”
And that’s because I think there are very few substitutes for hard work and sustained efforts. We all love to talk about those overnight success stories, but in reality they’re often the farthest thing from overnight. I know that it takes time to get great at something. And I also know that I’m not always going to be right. But the simple act of not stopping can take you pretty far.
In any event, I hope you enjoyed all the mountain town talk (I have a few more ideas I want to write about) and my Snapchat stories (if you followed along). I got really into Snapchat on this trip. And that’s because I think the platform is at a tipping point where brands are going to start thinking of it as a legitimate marketing channel – and not just an app for teens.
Do you have any routines or disciplines? If so, feel free share them in the comment section below. Or if you hate routines, tell us why.
See you in Toronto :)
Today’s Architect This City post is being brought to you live from the mid-base lodge at Revelstoke Mountain Resort on Mount Mackenzie in British Columbia.
It’s currently foggy, rainy, and about 2 degrees celsius — which I’m told is fairly anomalous for this area. It’s unfortunate for my friends on the slopes, but it makes me feel somewhat better about hanging out all day to rest my back and shoulder.
The town of Revelstoke was founded in the 1880s when the Canadian Pacific Railway connected the area. And traditionally its economy has been closely connected to that rail. However, with amenities like the resort I’m currently sitting in, its economy now increasingly includes tourism.
One of the most interesting reminders for me on this trip through the Canadian Rockies is how instrumental rail was in unifying and then building this country. But in actuality, it wasn’t just rail. It was rail plus property.
Within the Canadian Pacific Railway was a division called Canadian Pacific Hotels, which built and operated both urban and rural hotels such as the Banff Springs Hotel and the Chateau Lake Louise (both of which I visited for the first time on this trip). And today, these railway hotels are absolutely some of Canada’s most inspiring landmarks.
The model at the time was simple.
Sir William Cornelius Van Horne — who was president of CPR in 1888 — believed: “If we can’t export the scenery, we’ll import the tourists.” He knew that it was all about moving as many people as possible. And to do that he needed to create accommodations and destinations all along the rail. In other words, rail alone wasn’t going to cut it. It had to be rail plus property.
This of course is a model that still persists today. Many public transit authorities, such as the MTR in Hong Kong, have been hugely successful by adopting a rail plus property model.
However as the case study of the Canadian Pacific Railway demonstrates this is not a novel approach. It’s actually a tried a true model. Rail, and infrastructure in general, goes really nicely with property development.
So why don’t all transit authorities adopt a rail plus property approach?
I’m sitting in Calgary International Airport right now waiting for my flight back to Toronto. This marks the end of the 6th Penn Annual (our annual ski and snowboard trip). We all had an amazing time and I can’t wait until next year’s annual. We’ve already (pretty much) decided that it’s going to be in Park City, Utah.
As you can probably tell, I like traditions and routines. As boring as that might sound, I think there’s a lot of value in doing the same thing over and over again.
It’s why I do an annual ski and snowboard trip every February with some of my closest friends (to a mountain we’ve never been to before). It’s why I write something – no matter how short it might be – every day here on Architect This City. It’s why I lift weights 3-4 times every week. It’s why I’m interested in brand building (creating equity takes consistency and time). It’s why I love the permanence of real estate. And it’s also why I like dollar cost averaging when it comes to investing.
I guess you could say I like the long game. I enjoy having “disciplines.”
And that’s because I think there are very few substitutes for hard work and sustained efforts. We all love to talk about those overnight success stories, but in reality they’re often the farthest thing from overnight. I know that it takes time to get great at something. And I also know that I’m not always going to be right. But the simple act of not stopping can take you pretty far.
In any event, I hope you enjoyed all the mountain town talk (I have a few more ideas I want to write about) and my Snapchat stories (if you followed along). I got really into Snapchat on this trip. And that’s because I think the platform is at a tipping point where brands are going to start thinking of it as a legitimate marketing channel – and not just an app for teens.
Do you have any routines or disciplines? If so, feel free share them in the comment section below. Or if you hate routines, tell us why.
See you in Toronto :)
Today’s Architect This City post is being brought to you live from the mid-base lodge at Revelstoke Mountain Resort on Mount Mackenzie in British Columbia.
It’s currently foggy, rainy, and about 2 degrees celsius — which I’m told is fairly anomalous for this area. It’s unfortunate for my friends on the slopes, but it makes me feel somewhat better about hanging out all day to rest my back and shoulder.
The town of Revelstoke was founded in the 1880s when the Canadian Pacific Railway connected the area. And traditionally its economy has been closely connected to that rail. However, with amenities like the resort I’m currently sitting in, its economy now increasingly includes tourism.
One of the most interesting reminders for me on this trip through the Canadian Rockies is how instrumental rail was in unifying and then building this country. But in actuality, it wasn’t just rail. It was rail plus property.
Within the Canadian Pacific Railway was a division called Canadian Pacific Hotels, which built and operated both urban and rural hotels such as the Banff Springs Hotel and the Chateau Lake Louise (both of which I visited for the first time on this trip). And today, these railway hotels are absolutely some of Canada’s most inspiring landmarks.
The model at the time was simple.
Sir William Cornelius Van Horne — who was president of CPR in 1888 — believed: “If we can’t export the scenery, we’ll import the tourists.” He knew that it was all about moving as many people as possible. And to do that he needed to create accommodations and destinations all along the rail. In other words, rail alone wasn’t going to cut it. It had to be rail plus property.
This of course is a model that still persists today. Many public transit authorities, such as the MTR in Hong Kong, have been hugely successful by adopting a rail plus property model.
However as the case study of the Canadian Pacific Railway demonstrates this is not a novel approach. It’s actually a tried a true model. Rail, and infrastructure in general, goes really nicely with property development.
So why don’t all transit authorities adopt a rail plus property approach?
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