Shuswap Lake Estates: History

Thirtyfive years ago, in 1969, Shuswap Lake Estates came into being. 700 acres of land was assembled, all of it purchased with little down and large mortgages bearing large rates of interest. A group of shareholders had advanced insufficient development money as a portion of a bond which bore 19% interest, a huge rate of return in those days.

Irene and I sold a business I Saskatchewan and in doing so had traded in a house on the golf course in Anglemont on the North Shuswap. Neither one of us had been in British Columbia before. While attempting to market the Anglemont house and refusing a job offer there that would have seen us move into that house, we became aware of Shuswap Lake Estates. There were still shares available in Shuswap Lake Estates and the existing shareholders were desperate for someone who could take over to complete the project and to market it. I was lucky to be in the right place at the right time and with the right background to step into the challenge.

I became a shareholder in 1970 by purchasing the appropriate portion of the bond at the same time signing a contract to manage the company. As I had never worked for wages before, I would only take the job with the condition that I be given free reign. In other words, the shareholders were putting their money on a horse and had to let him run. Prior to signing the contract I was given the opportunity to review the records. It was obvious the company was under financed, had a huge debt and was dealing with too small a branch of a bank. Bank managers still made decisions in those days as to whom should get loans and small branch managers were either incapable or not far enough up the ladder to make larger loans. It was obvious too that a lot of the shareholders were in for the short haul and a development the size of Shuswap Lake Estates is anything but short term. The correspondence indicated many were already wanting their money back. I was confident we could eventually buy out the other shareholders.

Irene and I, along with 5 of our children, left Saskatchewan in early January 1971. All day as we loaded a moving van it remained 38 below zero. The kids thought we were going to the end of the world. Upon arrival in BC, and watching the kids in their shirt sleeves, diving into the soft snow while flinging snowballs at each other, gave us assurance their minds were changing. I don’t believe any of them miss breaking icicles from their noses and to date none have gone back to live in Saskatchewan.

Irene, who had kept our companies books for years while we were in business on the prairies, became our bookkeeper for Shuswap Lake Estates. I immediately went to work completing the log lodge and office, building reservoirs and attempting to make the roads passable so our first subdivision of 176 lots could be approved and registered. We were clear to market on the May long weekend of 1971. A jeep had to be used to tour prospective buyers around as the roads were still very rough and very dusty, having been approved for gravel only. Marketing was tough in those days, but it was a case of having to. People were bussed in from Calgary and Edmonton and a separate office was set up in Vancouver. By the end of 1971 we had marketed in excess of 100 lots. Prices ranged from $4,950.00 to $7,950.00 with a 10% discount for cash. A far cry from 2004 when our range ran from $40,000.00 to $125,000.00. Who could have thought? Anyway, our banker was now starting to smile a bit and the mortgage holders didn’t look quite so worried. Irene and I had increased our holding from the initial 5% to 17.5 %.

In spite of another 100 sales in 1972, there was still no money for dividends to the shareholders. Another 100 lot subdivision was added, the marina was built, the original roads had now been polished up and graveled, the upper reservoir was complete which gave us reliable water service to the office and lodge (previously we utilized a small unreliable spring from above the highway) and the airstrip was added.

Sales continued at the same pace during 1973 and 74. Being tired of eating dust from our first subdivision, which had been approved and marketed with gravel roads, we decided to go back and pave close to 3 miles of roads serving those original 176 lots. The remaining shareholders were not too pleased, but in hindsight that decision probably resulted in Shuswap Lake Estates being what it is today. The beach area was stripped of vegetation and sand was added. A third floor was added to the lodge by jacking up the two story log structure and building a concrete basement below. Clearing and rough shaping of some of the proposed nine hole golf course was commenced. Considerable debt was paid off and we picked up 25% more of the shares. By this time it was obvious that Shuswap Lake Estates would be a success, red tape, which to date had been minimal was suddenly starting to build up so we made application for a preliminary approval for another three subdivisions of 585 lots.

Well over half of the 585 lots had received final approval when Dave Barrett and the NDP were elected to govern BC. This was a streak of luck as e now had plenty of product for sale. The first thing Dave Barrett did was freeze the land in BC. This had the effect of stopping all future subdivisions. Land prices rose for those fortunate enough, like ourselves, to have product. The subdivision from the gravel pit to and around our first nine hole golf course which was part of the 585 lots did not quite make final approval prior to Barrett’s land freeze, but as it had a valid preliminary approval we were allowed to continue. It was ironic that after completing this 191 lot subdivision, including all water in, all underground hydro and telephone in, all roads paved and surveying complete, we were sent back to square one and had to appeal to the land commission to have the land removed from the farm freeze. There were hundreds of applications to appear before the land commission resulting in a 27 month delay from actual completion date until we were allowed to register and could start marketing. Had this sort of unforeseen thing happened during our first few subdivisions, it would have broken us.

During 1975 we completed the purchase of the remaining outstanding shares. They cost us a bundle. The shareholders did well as not only did they receive 19% on any monies they had invested, they reaped a huge profit on their shares.

On July 1st, 1977 the first nine holes of our golf course opened. Two sheds were set up behind the first tee box, now number 10, and a wrap around deck complete with log railing was constructed. This pioneering effort became our first pro shop. Bud Loftus, the ex-pro from the Calgary Golf & Country Club became our golf professional, with his wife Pidge operating the pro-shop. While I was never aware of it there has been reports that Pidge perhaps did a little bootlegging from this rustic and make-shift pro-shop. I know she sold the odd glass of milk. 

In April 1979 the restaurant and pro-shop opened in its present location and a driving range was added. We abandoned the hard work of handling bus tours after the first year, switching to a salesperson driving two couple at a time out by car. Sometimes a salesperson would bring in several couples in a light twin engine, landing on our airstrip. Eventually these methods were also abandoned and we relied strictly on advertising and the visual impact from the highway to attract our customers. 1981 turned out to be our biggest year until 2004. It was panic buying for about a five week window, then sales shut off like a water tap. For the next seven years promotion, advertising and sales did not indicate a pattern. No matter how we tried during those seven years, we ended up with four sales a year, except for one year in which we were actually skunked.

During the seven years of reduced sales, the golf course continued to grow. More land was purchased and another nine holes were added, opening in the latter part of March 1993. Norm Woods, a Colonel Saunders double and builder of over 250 golf courses throughout the world including many of Canada’s National Parks, was hired for the final touches of our first nine holes. Warren Radomsky, who did much of the designing and finishing touches for Les Furber, was hired to build the second nine. We now had a Championship Golf Course. Land sales were picking up again. We had weathered the storm of reduced land sales and 23% interest rates.

Just before our second nine opened we had an unfortunate fire in the restaurant. It was the practice those days to close the restaurant after the year end. One of the restaurant workers, who smoked a lot, was left by himself to clean up after their last day. For some strange reason all the garbage, including the kitchen leftovers were piled in a corner of the basement in garbage bags. We assume a cigarette, after smoldering for several hours, eventually caused the pile of garbage to break into flames, spreading to the floor above and eventually to the kitchen. Our volunteer fire department did an excellent job of preventing the fire from spreading to the pro-shop and lounge, both areas which now form the restaurant. Several years earlier I was approached by several people for a donation as they wished to form a local volunteer fire department. I offered to build and donate to them a fire hall on our Estates, which was in use until the new one was built a few years ago. Following the fire I was glad I had contributed to the fir hall. We were only partially covered by insurance. It was a setback that we were not looking for, but the good side of the coin resulted in a more functional complex. Some Calgary developers were a little late completing the 40 lot subdivision next door to us. They missed the early 1981 market flurry and couldn’t deal with the 23% interest that followed. In the early 90’s Terry purchased what is now known as Lakeview Place from a bank in Calgary, marketing it under Shuswap Lake Estates umbrella. Terry contributed the two Tennis Courts in that transaction.

During the 90’s the sales picture improved. A state of the art sewer treatment plant was installed that serves the Villa’s, the commercial area and Fairway Greens. All future subdivision will tie to that system.

Tragedy struck again in early January 1998 when we lost the log lodge to fire. This time the fire started in our computer room on the top floor. While the fire department did their best, the dried out logs, covered with many coats of oil and varnish, just burned too rapidly for them to control. All we could do was watch as the fire worked its way from top to bottom. All our computers were lost along with the programs, many of which had been built specifically for Shuswap Lake Estates. There was no way to replace these programs. Many of our records and files went up in smoke. There followed years of frustration as we attempted to restore from memory and some charred records a new starting point. We still struggle over missing files. Anyway, while it still wasn’t enough, we did, after the restaurant fire review and upgrade our insurance policies. Terry immediately went to work designing and constructing a new building. While the new building does not have the charm of the old 3 story log building, it is much more practical both for our use as an office and for the various community functions.

During the last three or four years, a car wash, garden center and eleven stores have been added to our commercial area. Terry developed the bulk of the stores. He also developed Fairway Greens and is now up to his eyeballs developing the Highlands subdivision above the highway. As I write, servicing is nearing completion for another 30 townhomes adjacent to the number 2 tee box which will soon be developed.

A recent review indicates Shuswap Lake Estates now encompasses close to 1300 acres and we have developed oveer 1100 lots. There have been over 40 housing starts this year (2004) an all time record, bringing the total number of homes to over 600.

We are happy to say by far the largest percentages of these homes are well above average. While there is an old saying, “there is no substitute for hard work”, I believe in the case of a development like Shuswap Lake Estates that saying should be revised to “there is no alternative other than hard work”. Terry can readily testify to that as he struggles with the powers to be as well as the physical work in keeping construction of the Highlands progressing. Couples with the hard work, success is dependent upon surrounding yourself with good people. We have been fortunate to have good people with us over the years and it has paid off.

Our company year end is October 31st and 2004 will go down in our history books as by far the largest year ever for sales. The 35 years has been a lot of work and a great challenge, but there is also great satisfaction to watch the many fine homes being constructed. It is great to observe the pride everyone displays with their tidy and above average landscaping. We are pleased to see people making new friends and partaking in the recreational activities and facilities we now offer. Our greatest satisfaction however is to see people reaching out into adjoining areas and taking a leadership role in various community functions. We are well aware that while a developer may be able to build a development, it is the participation of the residents that builds a community. It has been fun!