Construction Commences on $40M Eco-Friendly Resort in British Columbia

CALGARY, Alberta, Canada – (Oct. 13, 2008) – Reign Developments Inc. of Calgary, Alberta is pleased to announce the commencement of construction on the first phase of the Resort at CastleRock in Invermere, British Columbia.Ultimate Properties logoThe $40 million resort, a signature project for the Columbia Valley region, will feature eighty-four (84) luxurious two- and three-bedroom suites encompassing a 6,000+ square foot recreation centre, year round outdoor hot pools, sports courts, and other first class amenities, all set aside thousands of acres of protected forest at the base of the Purcell Mountains. The resort is also planning to utilize Geo-thermal heating and cooling combined with other energy efficient building materials to minimize the impact on the sensitive environment that surrounds the property.“The fact that we have secured competitive construction financing in today's increasingly tight market speaks volumes about the strength and viability of this project and the team behind it,” said Michael Palmer, CEO of Reign Developments Inc.Reign Developments credits the exceptional design, amenities and desirable location in conjunction with the value-based pricing for maintaining momentum. The Resort at CastleRock offers quarter fractional interests starting at $94,900 and whole ownership from the mid $300Ks. First possessions at the Resort at CastleRock are expected to occur in late 2009 with the commencement of resort hotel services in summer 2010.More information on ownership opportunities at the Resort at CastleRock can be obtained at or contacting Jack Ladick at (888) 678.9338.Reign Developments is a Calgary-based developer specializing in luxury multi-family resort and urban developments within Western Canada. Reign's current projects include Renaissance in Three Sisters Mountain Village (Canmore, Alberta) and the Resort at CastleRock (Invermere, BC). Ultimate Properties is representing the Resort at CastleRock.