Ucluelet, British Columbia, is seeing a significant luxury property enter the market with the listing of The Nami Project, an oceanfront resort valued at $15,900,000. The boutique hotel, which opened in 2023, represents a rare opportunity for investors seeking a high-end hospitality asset on Canada’s West Coast.
Architectural Gem on the Pacific
Located on 1.15 acres at 828 Odyssey Lane, The Nami Project is positioned above the rocky western shore of Ucluelet, near Pacific Rim National Park and Tofino. The property is described as one of the “true architectural gems of the West Coast,” with meticulous attention to detail and a design that integrates seamlessly with the surrounding natural environment. The resort has been recognized as one of the top 10 boutique oceanfront resorts in Canada.
The property boasts 9,557 square feet of living space, encompassing 10 bedrooms and 13 bathrooms. It features a main lodge with a private owner’s residence and four guest suites, alongside four standalone cabins. Each cabin includes a cedar sauna and a private sunken cedar hot tub, designed to offer guests a secluded and immersive experience within the rainforest setting.
Luxury Amenities and Oceanfront Access
The Nami Project offers a range of high-end amenities, including an infinity pool with an integrated hot tub. Guests have direct access to a private beach via stairs and a dedicated meditation platform. The primary suite features 270-degree panoramic ocean views and a private terrace. The lower level of the main lodge is adaptable and could be used as a gym, home theatre, or expanded amenity space.
The design philosophy centers around creating a lifestyle defined by space, calm, and immersion in the natural world. The developers emphasize a connection to the rhythm of the ocean and the stillness of the forest, promoting both solitude and opportunities for gathering.
Ucluelet’s Growing Luxury Market
The listing of The Nami Project comes as Ucluelet experiences increasing interest in its real estate market, particularly within the luxury segment. While the broader Ucluelet market includes properties at various price points – with 66 listings currently available according to REW.ca – The Nami Project stands out as a premium offering. A studio suite at the Black Rock Oceanfront Resort is currently listed for $298,000, demonstrating a range of options within the area.
The appeal of Ucluelet and nearby Tofino lies in their proximity to the Pacific Rim National Park, offering access to pristine beaches, rainforests, and outdoor activities. This natural beauty is a key driver of tourism and real estate demand. A larger oceanfront property in Tofino, encompassing 1.06 acres with 100 feet of private shoreline, is listed for $2,100,000, highlighting the premium placed on waterfront access in the region.
Investment Considerations
The sale of The Nami Project represents a unique investment opportunity, given its status as a fully operational, highly-rated boutique resort. The listing agent positions it as a “once in a lifetime” opportunity, reflecting the rarity of oceanfront properties of this caliber coming to market on the West Coast. Potential buyers could continue to operate the resort, capitalizing on its existing revenue stream and reputation, or explore alternative uses for the property, subject to local zoning regulations.
The resort’s success is built on providing an unparalleled guest experience, with every architectural detail intentionally designed for luxury and privacy. This focus on quality and exclusivity positions The Nami Project to attract discerning travelers willing to pay a premium for a unique and immersive West Coast experience.
The current market conditions for luxury hospitality assets will be a key factor in determining the final sale price. Demand for experiential travel and secluded retreats has increased in recent years, potentially bolstering the value of properties like The Nami Project. However, broader economic factors, such as interest rates and inflation, could also influence investor sentiment and transaction volumes.
The property’s location near Tofino also provides access to a well-established tourism infrastructure and a growing base of visitors. Tofino is known for its surfing, whale watching, and other outdoor activities, attracting a diverse range of tourists throughout the year.
