Developments in Kaslo Bay

When Bernie Penner of Nelson, B.C., made plans to build Kaslo Bay Estates, he envisioned luxury waterfront townhomes upwards of 2,000 square feet in size, with sundecks facing Kaslo Bay and contemporary high-end finishes. The units would sell for about a half-million dollars—not bad, really, for waterfront townhomes situated in Kaslo, B.C., a beautiful area that some call the Switzerland of Canada.

A month after the plans were completed in 2008, the economy slumped. Money dried up, his formerly enthusiastic support disappeared and Penner went back to the drawing board.

“I’ve always been a planner and a goal-setter, and I’ve always been willing to take risks,” Penner said. “I call myself a serial entrepreneur. Like most engineers I know, I am a natural problem-solver.”

Smaller and better

Penner has redesigned the townhome complex to adjust for the change in the economy. The new townhomes will still have high-end finishes, sundecks and water views—they will just be smaller and more affordable at $250,000 to $350,000—and ownership will include a couple of exciting and desirable new features.

“What we were selling five years ago is not going to sell in today’s economy,” Penner said. “After our test marketing, we decided to build smaller units and to acquire the next-door marina so we could offer moorage space and the amenities of a bar and restaurant. We’re selling not just homes or vacation homes, we’re selling lifestyle.”

Penner is a civil engineer who has done marine work with BC Ferries and the Langdale ferry expansion.

“I started my own engineering business, Pennco Engineering Ltd., in 1998 in Nelson,” Penner said. “I’ve done marine work on Arrow Lake, Kootenay Lake and Slocan Lake. I’m a green builder as well, with hands-on experience with the trades.”

No regrets

Penner has downsized his staff in order to concentrate on the Kaslo Bay project, his current priority.

“The last thing I want (when I am) 85 is to have regrets that I didn’t do the things I wanted to do,” he said. “I set goals, I visualize them and I set out to make them happen. I have a strong belief in the success of Kaslo Bay Estates and Marina.”