When you think of Canada, you might not think of wine, but that could be set to change. British Columbia’s Okanagan Valley is fast becoming a highly regarded wine region—the New York Times dubbed it the “Napa Valley of the North”—and home to a burgeoning tourism industry. Now developers are building new fractional residences in the region aimed squarely at wine lovers.

At about 250 miles east of Vancouver, the valley’s dry and sunny climate is well suited to a wide range of varietals. More than 200 vineyards are producing bottles of pinot noir, chardonnay and riesling as well as some highly regarded ice wines.

A number of fractional residences are currently available in the Okanagan Valley, including units at the Spirit Ridge Vineyard Resort & Spa and the Strand Lakeside Resort. Now Olympus Resorts and Bellstar Hotels & Resorts are taking the fractional concept one step further with their Reserve Collection, a group of shared ownership homes located on the property of wineries in the Okanagen Valley.

“The Okanagan is still a well kept secret,” said Jon Zwickel, executive vice president at Bellstar. “We think the opportunity to own in such a unique and unspoiled location as this is going to attract a lot of buyers.”

The Reserve Collection is partnering with 22 local vintners who have provided choice locations on their winery properties for the building of luxury three- and four-bedroom residences. Owners will also enjoy access to the Reserve Collection’s Vintner’s Club, which will organize special wine tastings, parties and even lectures on the art of viniculture. Sales of the first residences will kick off in the spring of 2009. The residence collection also plans to allow owners to exchange ownership weeks for stays at other fractional developments.

Fractional developments in wine regions are still relatively uncommon in the U.S. with the exception of California’s Napa and Sonoma Valley which are home to the Lodges at Calistoga Ranch, the Orchard at the Carneros Inn and Mayacama.

To learn more about buying a fractional residence, download our Decision Guide.