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Sunshine Coast, BC - Its collapsing real estate market.
04-05-2014, 05:33 PM,
#11
RE: Sunshine Coast, BC - Its collapsing real estate market.
Fascinating.

Amazing.

Little man jumping out of chair clapping wildly.

Rize Alliance is a fairly snooty outfit that thinks their projects are god's (small 'g') gift to the lower mainland.

I have been wondering for some time when the ripple down effect will start hitting all those architectural firms, interior design firms, model makers, videographers, website designers, you name it.

Seems to me that in the coming collapse there will be a domino effect as fewer jobs are available for concrete workers, who then cannot make the payments on their jet skis, resulting in the 'inland marine' industry declining, which means the owners cannot take that yearly Xmas holiday to Maui, which means that..............oh heck, you get the idea. That is exactly what happened in the USofA, which has, as of today, STILL not recovered.

So, thanks for this in depth insight into 'news' that no one but you was going to report.
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04-18-2014, 11:09 AM, (This post was last modified: 04-18-2014, 11:30 AM by Skook.)
#12
RE: Sunshine Coast, BC - Its collapsing real estate market.
Time waits for no developer - Skook

The latest installment of Sechelt’s “Great, Big Development Land Sell-Off” presents a 13 ha (32.1 ac) parcel listed on April 11, 2014. A few days ago, I discovered the listing on the left first on Gary Little’s Interactive Map where it appeared as 6028 Marine Way which was how Re/Max loaded the property; however, as you can see on the right, it's since been changed and this should be read as Blocks 16, 17 & Remainder, (comma) Reef Rd to make sense of it.

[Image: attachment.php?aid=894]

The zoning maps below show the L-shaped parcel is in West Sechelt above the Sangara and Clayton families holdings and not too far from the centre of Sechelt. In the close-up view, the development lands are comprised of two parcels: BLKs 16 & 17 in DL 1471 (4.5 ha) and DL 1647 (8.5 ha) for a total of 13 hectares or 32.1 acres.

[Image: attachment.php?aid=895]

I have the latest (2013) Google Earth view of development locale on the left. On the right, I have overlaid the “subject properties” to give you a truer sense of how they fit it. You will notice the development area has not been cleared.

[Image: attachment.php?aid=896]

It was back in 1997 that the developer, Sechelt Land Project Ltd., began the preliminary and geotechnical reports of its proposed subdivision. The site map below was prepared in 1998 and it would be a phased-in development with Phase 1 occurring in block 1647 facing Reef Rd. It is important to note the way the many branches of Cook Creek meander throughout both blocks; this will be an important issue 15 years later in 2013.

[Image: attachment.php?aid=898]

For whatever reason, the project was put on the back burner. Fast forward to November, 2012 and whoever is behind Sechelt Land Project Ltd. now wants to proceed with Phase 1 and has approached the APC (Advisory Planning Commission). Well, despite having received a PLR (Preliminary Layout Review ), it's a new world now and the rules have significantly changed. Here are the issues raised by the APC as a result of that meeting:

Quote:In discussion on Phase 1 of the subdivision it was noted that:
  • observed that this proposal is many years old
  • something should be in place to ensure the land is not just cleared and left for multiple years without development;
  • erosion control needs to be addressed within 14 days per bylaw;
  • the property is in a sensitive area with watercourses;
  • the ditch running through Lot 16 would need to be addressed;
  • setbacks from the watercourses may need to be greater;
  • longer term erosion control may be needed;
  • there may not be sufficient road width for emergency vehicles in the cul de sacs;
  • the road width on the south should be full width not half width for driver safety reasons;
  • that Lot 1 width allows no possibility for future road widening of Marine Drive extension and will create a poorly designed intersection - Marine Drive and Reef Rd. with a full road width across from a half road width;
  • it is unclear if a sidewalk will be built on the Trail Avenue side;
  • concern for the excess number of new driveways that would come on to Reef Rd.
  • concern for developing roads in phase one with only minimal road improvements offered. It is 2012 and traffic is becoming an issue in this area. How do both sides of roads get improved?
  • Parks- plans did not label what the easements to parks were intended for. If used for street drainage they sloped the wrong way and if intended as walking trails - one ends at a steep hillside in the creek. More than one access to each park space is needed. Need to request updated plans with more information.
  • the street lighting plans for the first phase is unclear;
  • contours may have changed.
  • current environmental and geotechnical reports are needed.
  • newer, more complete drawings are needed;
  • more information about the first phase of the subdivision is required.
  • Comments are on Phase 1 only- APC will be referred future phases
Phase 2 and beyond: Traffic Network- It was noted that Trail Avenue would link with Reeves Road which connects with Nickerson and Norwest Bay Rds. This would give West Sechelt to Porpoise Bay a secondary connector. It was noted that there is a hillside in the road allowance which had multi-family proposed. It was thought that a traffic study should be done as this will be an important transportation link for cars, buses, walking, bikes etc. It would take some pressure off downtown Sechelt and get people out of their cars.

Recommendation No. 2 – Sechelt Land Project Ltd. – District Lots 1647 and 1471 – Reef Road – Subdivision Application

That the Advisory Planning Commission (APC) recommends to the Approving Officer that the application for the Sechelt Land Project’s proposed subdivision’s first phase be brought forward again to the APC with new geotechnical and environmental reports, an updated design and how it conforms to the new Official Community Plan, and plans for lots and other areas which have watercourses and ditches running through them.

Well, that’s a nice list of issues, but the APC wasn't over yet and on January 22, 2013, it continued its review of the development application.

Quote:In discussion it was noted that:
  • Previous discussion points and suggestions by the Commission were heard by Staff.
  • The preliminary environmental and geotechnical reports received for the 1997 rezoning, does not reflect current legislative requirements (BC Riparian Area Regulations and Sechelt’s OCP). The developer has been requested to provide updated reports for the specific subdivision site.
  • Modifications to the subdivision layout drawing have been requested and include: 15 meter setbacks from waterways, contours indication and potential building footprints and setbacks.
  • Staff have spoken to the developer about the road layout regarding length of dead-end and utilizing the existing network of dedicated road right of ways.
  • A full road width has been requested for part of the Trail Avenue/ Reeves Road extension, along with a traffic impact study;
  • Parking for the park is planned along the roadway;
  • Most of the existing trees in this development are alders with some large evergreens along the waterways
  • It was suggested that new Lots 1-16 should not include driveways out on to Reef Road but rather be designed with access from a cul-de-sac or lane to address safety issues such as backing out onto a busy road, sloped road, and limited visibility (close to corner).
Recommendation No. 3 - Sechelt Land Project Ltd. – District Lots 1647 and 1471 – Subdivision Application

That the Commission comments be sent to the Approving Officer, and the Developer, for inclusion in the subdivision application review.

In other words, Sechelt Land Projects Ltd would be starting from scratch if it wanted to get this development approved. I don’t know if the developer tackled any of this over the last year, but can you imagine the costs of doing so? Not to mention doing so is in such uncertain times.

Nope, I think I would kiss this development goodbye, too.


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12-12-2014, 05:52 PM, (This post was last modified: 12-12-2014, 05:54 PM by Skook.)
#13
RE: Sunshine Coast, BC - Its collapsing real estate market.
Round and round and round it goes...
Where it stops, nobody knows...


Just over a year ago on Oct 9, 2013, I posted about a number of development lands on the market in the District of Sechelt including 170 acres at 4681 Mount Richardson Rd, Sechelt listed at $5,200,000.

Just over a week later on Oct 17, 2013, I posted that those Mount Richardson acres had been relisted only this time around the listing was as DL 7255 Mount Richardson Rd, Sandy Hook and the price had dropped to $4,950,000.

On Dec 27, 2013, I posted an update saying that DL 7255 Mount Richardson Rd had been sold - going at $4,200,000.

Well...guess what? Yep, they’re back on the market (Nov 3, 2014). The listing address has reverted back to 4681 Mount Richardson Rd, Sechelt and look at that nice, new price...$5,499,000. Probably, hoping ex-Mayor Zoom Zoom and his friends will snap it up at that bargain basement price. Ex-Mayor Zoom Zoom is becoming a developer (he and friends bought the 396 acre Silverback lands next door this past summer. See: Coast Reporter, Silverback site to be redeveloped)

[Image: attachment.php?aid=1031]

So, what do you think? Is this a flip or did that December 2013 sale collapse?


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03-20-2015, 01:56 PM,
#14
RE: Sunshine Coast, BC - Its collapsing real estate market.
i heard today that the Concordia Development and the owner directly affected by the sink hole are engaged.....i know Dos is over looking....Skook do you have any other up to date info...Ground water is the source....has to have huge ramifications for development does it not? What about prices of real estate in the shores.....? Is this the first of many on that cliff?HuhHuh
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