New Denver

Lending in New Denver

To understand New Denver, you have to look past the mountain views and see the history. It’s not a typical Kootenay resort town. Its story starts with an 1890s silver rush, but the defining chapter was its use as a Japanese Canadian internment site during World War II. This isn’t just something you read about in the Nikkei Internment Memorial Centre; it’s part of the town itself. Some of the original internment shacks in “The Orchard” are still lived in today, giving the village a quiet, reflective character you won’t find anywhere else.

The lifestyle is intentional. With a population of just 487, this is a place people choose for a reason, drawing retirees and others looking for an escape. The appeal is straightforward: lake access, hiking trails, and a deep sense of peace. The housing market reflects this stability. The town is hemmed in by the lake and steep terrain, preventing any real expansion. It’s a low-density community where 84% of the 304 private dwellings are single-detached houses. Don’t expect to see any new subdivisions here.

From a lending perspective, we have to be unsentimental about the economic data. The local economy is small-scale, with retail and construction being the main employers. The numbers show the risks clearly: a median household income of $46,400 and an unemployment rate of 12.1% point to a fragile economic base. The demographics tell the rest of the story. With a median age of 62.8 and over 45% of the population aged 65 or older, this is fundamentally a retirement community. That brings stability, but it also means a limited workforce and stagnant wage growth.

This is exactly the kind of market Tekamar was built for—a community often ignored by monolithic lenders, but one where carefully structured, equity-based loans make perfect sense. We see the value in New Denver’s unique appeal. However, our safety-first model means we must price in the economic realities. A foreclosure here would face a niche buyer pool, likely leading to a longer-than-average time on the market.

For brokers, this means we’re the right partner for well-capitalized borrowers who aren’t looking for a high-ratio mortgage. Our ideal clients here are retirees downsizing with significant equity, buyers needing bridge financing with a confirmed sale elsewhere, or long-time residents consolidating debt. We will lend in New Denver, but our approach is conservative. For this market, our maximum LTV is 55.0%. This is a firm ceiling that directly reflects the unique economic and demographic profile of the village.