Lake Country’s most expensive property owner is also the founder of two wineries in the district.
Dennis O’Rourke, owner of The Chase Wines, is currently moving forward with plans for a new winery in Carr’s Landing.
Last June, the district approved a new O’Rourke’s winery development, which will be nestled next to a granite mountain along Carr’s Landing Road and Commonage Road.
His house, located at 18250 Juniper Cove Road, has been assessed at $9.5 million.
The five-bedroom, 10-bathroom mansion is located on 108 acres, according to BC Assessment. Last year’s assessment listed the property value at $9.2 million.
O’Rourke’s property is currently the third most expensive in the Central Okanagan, behind 4358 Hobson Rd. in Kelowna which is listed at $10.5 million and at 1683 Prichard Dr. in West Kelowna, valued at $9.8 million.
“The majority of residential homeowners within the Okanagan can expect an increase of five to 15 per cent change compared to last year’s assessment,” said Thompson Okanagan assessor Katrina LeNoury. “Local communities and individual housing may experience changes greater or lesser than the average, as market values are based on local market demand and conditions.”
Overall, the Okanagan’s total assessments increased from about $108 billion in 2018 to $118.6 billion this year. A total of about $2.5 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties. The Okanagan area forms a part of BC Assessment’s Thompson Okanagan region and includes the Shuswap (Sicamous to Sorrento) in the north, then south through all of the Okanagan communities to the Canada/US border at Osoyoos and west to Princeton, according to a news release issued by BC Assessment.
Lake Country homes have increased in value by an average of seven per cent, from $575,000 in 2017 to 619,000.
The highest valued property in the province is located in Vancouver, at $73.1 million in Kitsilano.
O’Rourke is based out of Edmonton and has owned land in Carr’s Landing since the 1970s.