January 25, 2005

For Immediate Release

BC Town of Kitsault Sold

New Westminster, BC -- After just four months on the real estate market, the former ghost town of Kitsault, BC has been sold for an undisclosed sum, according to Rudy Nielsen, President of NIHO Land & Cattle Company. Nielsen is responsible for the appraisal and marketing strategy while affiliate company, LandQuest Realty, sold this unique property.

The lights are going back on in Kitsault, says Nielsen, who adds that the new owners, Kitsault Resort Ltd. B.C., are planning to revitalize the spectacular  oceanfront town as a premier northern destination. The outdoor recreation opportunities in this region are limitless, says Nielsen, and  include spectacular sport fishing and the potential for world-class heli-skiing.

The new owners are planning to refurbish the town and begin consultations with the Crown and First Nations early this year. They want to bring this community back to life.  Along with the sale of single family homes and condominiums, they are looking at other possibilities such as a time share vacation resort, and even a movie studio.

Located 500 air miles northwest of Vancouver, and a 3.5-hour drive north of Terrace, Kitsault was once a thriving coastal community on the shores of Alice Arm. Alice Arm is a fjord which is capable of being a deep sea port with potential to form connections with the nearby coastal city of Prince Rupert. It has been vacant since the early 1980s when a nearby molybdenum mine shut down.

The Kitsault town site consists of over 322 acres on eight titles. It includes approximately 90 houses and duplexes, seven apartment buildings (which contain a combination of over 200 bachelor, one and two bedroom units) over twenty foundations for double wide mobile homes, a shopping centre, two recreation centres, a hospital, a large works yard and a local dock.

There is a 22,000 square foot shopping centre that has a grocery store, liquor store, bank, hardware store, restaurant, post office, and other specialty stores. Together, the two recreation centres include a swimming pool, hot tub and whirl pool, locker rooms, gymnasium, a library, curling rink, and even the Maple Leaf pub.                                                                                                

The Kitsault General Hospital is equipped with operating equipment, examination room, waiting/reception area and even a suite to house visiting physicians and dentists.                                                                                                    

Throughout Kitsault, all utilities including telephone and cablevision have been installed underground. Pavement, curbs and landscaping have enhanced the human engineered aspects of the town site. There is even a complete sewage system with lift stations and sewage treatment plant.

Phase I of the redevelopment project focusing on infrastructure is scheduled to begin this spring, says Nielsen, and the new owners are looking forward to working closely with First Nations, government agencies and the local region to build a premier destination that everyone can be proud of and one that will provide significant economic benefits for Northern British Columbia.

For more information: www.niho.com

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