Sun Peaks announces $11 million in capital expenditures 

Also on June 1st, Sun Peaks Resort announced the kick-off of Phase 2 of its master development agreement. The agreement is intended to "position Sun Peaks resort as a premier, year-round destination."

As part of the plan, $11 million will be spent this summer on mountain improvements and real estate development. More bike trails will be added on the mountain and additional lifts, grooming machines, and snowmaking equipment will be purchased in time for the upcoming season.

Real estate developments will include expanding the golf course, constructing a new skating rink facility and building new roads. In addition to these improvements, a number of condominium and townhouse projects are underway.

This year’s building construction is valued at $72.5 million, while the real estate coming to market during Phase 2 is worth $212.5 million. The total estimated value of projects in the start of Phase 2 of the master development agreement is $284 million.

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