Olympics

Whistler Post Olympics – Future in Focus!!

The parties have wound down (although it’s never too hard to find one in this    town), our day skier parking lots are back, the camera crews and media personalities are reporting on other events and the symbol of all things Olympic is gone.  My wife called me the other day to say she was driving behind the truck carrying the Olympic rings out of town and it made her a little sad.  What are ya gonna do??  It took many years and many thousands of people and who knows exactly how many hundreds of millions of dollars to put this together and now it’s over.  We all knew this day would come.  Some of us, despite being very excited about it all, were hoping for things to get back to normal.  Some wish the party could last forever but we all know that takes the anticipation out of the equation.  Parties end and parties begin, that’s what keeps us motivated.  This just happens to have been the biggest one we’ve ever thrown and will throw.   There is no question in my mind that Canadians took a huge step forward this past month.  We’ve always been a proud bunch,  just not overly eager to show it.  But for the purposes of this blog, it’s time to focus on Whistler and how things will play out here over the next few years.  I have done some reading and research on how the Olympics have impacted other cities such as Sydney, Atlanta, Salt Lake and Bejing and the results seem to vary.  Sydney saw some substantial increases in property values but research shows that the Olympics had a minor role.   Atlanta added 218000 jobs in the 3 years following the 1996 Olympics which had to have a positive impact on the real estate market.  Here in Whistler we always seem to march to the beat of our own drum.  Our best frame of reference in terms of predicting where our market will go is Park City.    They were a host mountain resort in 2002 with Salt Lake just as we were last month.  Here are some stats compiled by my colleague Craig Mackenzie to show what happened there in the few years after the Olympics.  I would agree that we’ll not likely see these types of increases.  However, in my opinion it is even more important to look at the infrastructure and legacies left here for residents to enjoy and take advantage of.  The hugely upgraded 600 million dollar highway is at the top of the list.  It is now much safer to drive here and make no mistake, more visitors than ever will use it.  The Athletes Village and soon to be Whistler’s newest residential neighborhood will house hundreds of deserved locals along with a hostel, sport facility and other small businesses.  I caught part of a special on Lake Placid and how it’s become a sports training hub in the states with their Olympic Training Center and the National Sports Academy.  Imagine if Whistler Olympic Park and the Sliding Center facilities were used in the same way to create first class training centers for not only our Canadian athletes, but for athletes around the globe.  All these things add up one  indisputable fact.  Whistler is a truly unique place to live.  It’s clean.  It’s safe.  It’s overflowing with people who care about their community and can’t help but get involved.  It’s recreational possibilities are endless.  It’s a simply beautiful part of the world to call home.  Did you catch some of the bluebird coverage of the Alpine or Nordic events? You can rest assured that hundreds of millions around the world did and it won’t be long before they come for a first hand look!!  Interest rates are still lower than they’ve been in years.  Supply is good and prices are down.  If you were ever considering Whistler for a family retreat or a more permanent home, now is the time.  Grab a piece of Whistler, you won’t be disappointed!!