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Sechelt Development - Trail Bay Estates
05-01-2013, 10:24 AM, (This post was last modified: 04-13-2015, 05:31 PM by Skook.)
#1
Sechelt Development - Trail Bay Estates
[Image: attachment.php?aid=128]

I have struggled a bit with this development. As I continued to research it, the question ‘What makes a development such as this a success?’ lodged in the back of my mind. It is the mere selling of lots or is it the building of homes on those lots and establishing a thriving community? Perhaps, you will come to your own conclusions by the end of this post and share your thoughts.

Trail Bay Estates is a Clayton family development taking place on Clayton owned land. The Claytons arrived in Sechelt over 90 years ago eventually establishing the first grocery store after the Union Steamship Company stopped servicing the coast in 1959. That first venture evolved into the present day Clayton Heritage Market, an independent grocery store that anchors the Trail Bay Centre - the shopping mall owned by the Claytons. Over time, success was parlayed into land purchase most notably in West Sechelt with Trail Bay Estates occupying a lower portion bordering Hwy 101 of a long 33 hectare parcel (3,300 acres).

The public got its first look at this proposed development at the end of May, 2006. According to the Coast Reporter, 60 showed up for the unveiling - a good turnout with some, no doubt, wanting to see what the Claytons were up to. The news report goes on to say there was not one voice spoken in support of the project. A number of issues were raised including:
  • road access (it would be via Sechelt Village and not Hwy 101)
  • lack of a comprehensive development plan
  • fear Sechelt’s infrastructure would not be able to support this portion of a much larger proposed project
  • concern that the project was tied to a land donation to the local college
Issues raised by Sechelt planning staff in an earlier report included the fact that the developer had cleared the land in August, 2005 without undertaking an environmental assessment. I lay the blame for this fact squarely at the feet of the Gordon Campbell government who made sweeping changes to the Agricultural Land Reserve Act basically allowing those with private managed forest lands to do with it what they will. This would have a huge impact on Vancouver Island and is fodder for its own post in the future.

The project eventually received Council approval and with the initial land clearing long out of the way the developer needed to do some reshaping. Blasting away the rock facing the highway began in the early spring, 2007, and within days homeowners on the other side of the highway raised their voices in anger and concern as rocks rained down on their properties with one even going through a roof. Blasting issues were raised on and off for almost two years (1,100 blasts in total) eventually culminating in the blasting contractor, Rock Construction and Mining Inc. (RCMI) receiving a court imposed $5,025 fine for less than professional work and the District of Sechelt amending its ticketing bylaw enabling bylaw officers to issue tickets on the spot over blasting infractions. (Search ‘Trail Bay Estates’ at http://www.coastreporter.net for news stories)

Well, this project certainly started with a bang. The Google Earth shots below show how the development took shape over the years 2004 to 2010.

[Image: attachment.php?aid=129]

The Trail Bay Estates website (I have just discovered it is unavailable - my antivirus wasn't allowing me there a few days ago giving a Trojan virus warning - so they may be trying to correct this) made its appearance on the net in early 2008 with pictures of the first show home (Lot 44) under construction. The website also offered a site map .pdf and a list of the lots available for purchase. This site map and that lot list are shown in the image below.

[Image: attachment.php?aid=130]

The site map indicates pre-sold lots and immediate home construction (small house icon) and you can see the placement of those houses on the Sept, 2009 GE image above. The ‘gold’ on the spreadsheet indicates these pre-sold lots and an asterisk indicates where the homes would be built. As of the end of April, 2013, twelve lots have never sold: 1, 3, 4, 5, 8, 11, 12, 15, 37, 59, 64, and 65.

What we don’t know from the site map above is who bought the lots (family, friends, developers, speculators, etc.?) and what they paid at the time. However, the spread sheet might give some idea to the initial lot pricing because there are currently three re-sale listings: lots 30, 55, 57. If they paid close to those listing prices, then they are likely facing a substantial loss if desperate to sale given the current developer pricing for unsold lots which is at least $100,000 less and the 2013 assessment values for the lots. Only the lots on Clayton Ave would be cheaper than the other 55 lots because they lack a direct ocean view.

Now you see why that question as to whether or not this development has been a success entered my mind. Out of 66 initial lots only 13 remain unsold. However, when I drove through this development back in early 2010, there were very few homes built. I am not on the coast now so how could I discover how many homes have actually been built to date? Well, I have used four methods:
  1. SCRD address map (Map 7: Sechelt - Davis Bay)
  2. Google Street views (August, 2011)
  3. ‘Sold’ and ‘For Sale’ listings
  4. Realtor Listings pictures
The SCRD address map dated 2012 offers, in my opinion, the most accurate picture because homes under construction and built are given addresses for firefighting and policing purposes and the SCRD map which is included with the spreadsheet below indicates 21 homes built by the end of 2012 (lots 31 & 33 have two address which I assume indicates a possible planned duplex, and lot 55 is for resale and the price indicates no home built). Even if ten homes were to have been built since the making of this map, it would still roughly indicate only a third of the lots have been built on.

(April 13, 2015: outdated pricing spreadsheet removed. To view new spreadsheet, click here. The best way to view it is to download it to your own computer and print it off. Right click on the image and click ‘Save image as” or something similar depending on your browser. If you use Windows, save to a picture folder. Clicking the image should open it in Windows Photo Viewer. Increase the magnification by about a 1/3 and it fits nicely across the screen. If you decide to print the spreadsheet, remove the checkmark from “Fit picture to frame” first.)

So, can you say that Trail Bay Estates has been a successful development? I know if I had bought into and built in this project I would be very upset to look out my windows day after day and see all those vacant lots now over grown with weeds. And as more and more developments come on stream and the real estate market worsens how does that affect the value of your home should you be so unhappy you wanted to sell or had to sell for any other reason. Or, what if you bought a lot hoping to flip it rather than build, what do you do now? These are all very interesting questions.

Perhaps taking a drive through the development via Google Streetview may help answer the big question. The images below start out on Hwy 101 (truly impressive introduction to the development and the weeds give it that ‘je ne sais quoi’). We’ll then move up through the development beginning on Barnacle St, to Cowrie St, to Compass Lane and finally to Clayton Ave.

To show that I have not been overly biased in my choice of screenshots, I recommend visiting Realtor Gord Clayton’s website and taking a look at his lot listing pictures. He is a third generation Sunshine Coast Clayton and has been listing these lots since the 'big bang' and if anyone would want to put this project in a positive light it would be him.

Another Realtor, Bry Nelson, lists of those expensive lot resales: Lot 30. You can view her listing pictures, too.

[Image: attachment.php?aid=132]


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06-17-2013, 07:42 AM, (This post was last modified: 04-13-2015, 11:30 AM by Skook.)
#2
RE: Sechelt Development - Trail Bay Estates
June 17, 2013:

It is time for a Trail Bay Estates spreadsheet update.

[Image: attachment.php?aid=224]

(April 13, 2015: outdated pricing spreadsheet removed. To view new spreadsheet, click here. The best way to view it is to download it to your own computer and print it off. Right click on the image and click ‘Save image as” or something similar depending on your browser. If you use Windows, save to a picture folder. Clicking the image should open it in Windows Photo Viewer. Increase the magnification by about a 1/3 and it fits nicely across the screen. If you decide to print the spreadsheet, remove the checkmark from “Fit picture to frame” first.)

All recent changes are highlighted in blue in this update.
  • The home at 5959 Barnacle was relisted back in March for $699,000 and that list price has recently dropped by $10,000 to $689,000.
  • The home at 5997 Cowrie St which was purchased back in 2012 for $724,300 was put on the market in May for $749,000.
  • Lot 39 (Cowrie St) which has been indicated by the developer as 'Sold' since the big bang (see site map in original post above) was listed in April for $185,000 and the price has since been reduced to $179,900 - and is now apparently 14% below the 2013 assessment*.
  • The home at 5532 Clayton Ave was listed in April for $489,000 but has since disappeared from MLS. However, it is still on the market for the same price but it is now an "Exclusive" property for a Realtor in Parksville on Vancouver Island. She was a Realtor on the SC and left in 2010 - I strongly suspect she owns this house. Google the address for information, if interested.
  • Lot 52 (Compass Lane) is another lot previously indicated as 'Sold' by the developer. It was listed this month for $189,000 - 4% below the 2013 assessment*.
  • Lot 57 (Compass Lane) which is an owner re-sale was listed back in 2012 for $339,000. The lot was re-listed this May for $319,000 - $20,000 less but still 60% over the 2013 assessment*.
* this information should be verified with the proper authority.

The owners of Lots 30, 55, 56 and 57 are all whistling-in-the-wind if they hope to sell at those prices which are likely very close to purchase price. The lots will never move as long as the developer keeps putting his own on the market at below assessment. If they bought those lots as an investment to flip later, then they really have only two options:
  • leave the land in their will for the future generations to possibly reap a reward, or
  • undercut the developer's lot pricing and take the loss
There can be no other choice as we enter this real estate correction - a correction that has only just begun and may take more than a few years to unfold.


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06-26-2013, 07:02 PM, (This post was last modified: 04-13-2015, 11:31 AM by Skook.)
#3
RE: Sechelt Development - Trail Bay Estates
June 26, 2013 Update:

There are three spreadsheet updates to mention since my post on the 17th. Two are price changes and one is a new listing.

The owners of Lots 30 & 55 bit the bullet and lowered their list price - finally. Lot 30 (Cowrie St) has dropped $20,000 to $339,000 but is still 60% above assessment. Lot 50 (Compass Lane) dropped $30,000 to $299,000 and is now 50% above assessment. The change must be recent because the old pricing is still up on their agent’s website. However, it won’t be enough to get these lots sold. You will need to get that pricing down towards the $200,000 mark to even be in the ball game - bad news.

The new house listing is interesting. It is on Lot 31 - 5973 Cowrie St. You can find its position on the site map in the first post and then look it up on the address map which will indicate it is one of the lots with two street numbers (5973 & 5975). This lot has no ‘history’ because it was among the many lots indicated as ‘sold’ from the time of the big bang.

I went onto Google streetview and drove down Cowrie. Lot 31 is the fifth lot from the end and the drive (August 2001) shows three houses at the end then a bare lot and then a home under construction and those images are below. I think this is house now listed.

[Image: attachment.php?aid=240]

If this were a Clayton Family build it would be listed with Gord Clayton at Re/Max; however this is listed with Royal LePage so I am thinking this is either a builder’s spec home or an owner resale. The listing describes the home as 1 year old so if it’s the latter then the owner isn’t sticking around for some reason - maybe because the assessment keeps dropping.

Speaking of the assessment, it’s been pegged at $657,000 and the list price is - $995,000 - a generous 51% above the assessment. Good Luck.

As for that double street address, this home has been ok’d for a legal suite and there is a separate entrance. Whether or not it was ever rented out is another question. So, maybe that ‘mortgage helper’ is built into the list price as well as all the ‘high-end’ doodads listed in the description.

The house is described as 1,730sf with 3 bedrooms and 3½ bathrooms on an 8300sf lot (front 98’, depth 172’). So, what do you think - is this worth almost $1,000,000?

Oh, I forgot it has that ocean view and from the looks of it no immediate neighbours to worry about not even from down there below on Barnacle St. Guess the peace and quiet is built into the price, too.

[Image: attachment.php?aid=241]

The house was listed five days ago and still no pictures.

June 27,2013:

I have found the agents behind the listing. It is Brynelson-O'Reilly who seem to be the agents of choice for anyone considering their properties as "Carriage Trade". Here are three updated pics - and I did pick the right property using Google.

[Image: attachment.php?aid=242]

On the agent site, the square footage is given as 3,475 which makes more sense then that given on the Royal LePage company listing. That figure of 1,730 must be for the top floor only. This would put the lower floor at 1,745 or vice versa and from the listing pic is doesn't look like the lower area was rented out as a separate suite. Here is the listing webpage and you can decide if you think this house is realistically priced. My opinion hasn't changed.


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09-12-2013, 01:48 PM, (This post was last modified: 04-13-2015, 11:35 AM by Skook.)
#4
RE: Sechelt Development - Trail Bay Estates
September, 2013 Update

It’s time for an end of summer update. Right off the top, there are no sales to report with either the lots listed or the homes. . However, there is no shortage of price drops. This has to be the million dollar question on the SC these days is: How low do we have to go? I think the answer will terrify anyone when it’s discovered, but it won’t happen this year.

I will be posting an updated spreadsheet. Hopefully, I managed to keep an accurate track off the price drops - it does get tricky with a development this size. I think the SC Realtor handling the listings, Gordon Clayton, is finding it tricky, too. Every month, a new Sunshine Coast Real Estate Guide is released and it's distributed to locations throughout the Sunshine Coast and on the ferries. You can also access the Guide online at http://www.coastlistings.ca In July’s edition, I noticed that Gord had lowered the price on two TBE lots; however, these price drops are not reflected on MLS. Here are the ads:

[Image: attachment.php?aid=397]

With regards to Lot 12, it is listed on MLS for $189,900 so I am not sure if the ad represents a new price drop or a typo. Lot 15 is listed on MLS for $219,900 so has it gone through two price drops and the Realtor forgot to update the listing both times? Perhaps these price discrepancies imply the developer is flexible and open to offers; it’s all a mystery to me. All price changes and other new info since my last post of the spreadsheet are indicated in blue.

One house listing was dropped in August - 5528 Clayton Ave ($799,000). I can find no information indicating it sold and I would be very surprised if it did at that list price. The way it’s going on the SC, I think they will have to knock off $200,000 and bring it line with its assessment to generate any interest. As well, the location is a strike against it selling - poor TBE.

A new home listing occurred mid-July - at 5596 Barnacle (on lot 14). It had been listed once before on Jan 9, 2011 at $699,000. The owner increased the list price in early 2013 to $739,000 and then the listing was removed. This July re-list has the price at $689,900 which gives an Asking Price Premium of +23%. Good luck.

Now, there are three vacant lots that are of note. These are lots 22, 43, and 51. On the spreadsheet sheet, you will notice “Samji 50%” in orange in the 2013 List column. While I was doing research on Wakefield Beach, I discovered bankruptcy documents for a Vancouver woman, Rashida Abdulrasul Samji. She is not only in bankruptcy proceedings but under investigation by the BC Securities Commission and the RCMP. She is also being sued. All the info is near the bottom of the first Wakefield Beach post. In her list of assets were these three lots at Trail Bay Estates; however, she has only a 50% stake in each with the other half owned by someone else. I wonder how the court will handle this situation? So, this helps to explain why there are no homes on these lots; no doubt, they were destined to be flipped after a substantial appreciation. Too bad, so sad.

Here is the updated spreadsheet.

(April 13, 2015: outdated pricing spreadsheet removed. To view new spreadsheet, click here. The best way to view it is to download it to your own computer and print it off. Right click on the image and click ‘Save image as” or something similar depending on your browser. If you use Windows, save to a picture folder. Clicking the image should open it in Windows Photo Viewer. Increase the magnification by about a 1/3 and it fits nicely across the screen. If you decide to print the spreadsheet, remove the checkmark from “Fit picture to frame” first.)

There is another significant development occurring that will affect Trail Bay Estates. The Sangara family behind Greypointe Properties (Silverstone) have started on their next project - a 31 lot subdivision that will be an extension of TBE. So, let’s see... Greypointe’s 9 vacant Silverstone lots priced from $179,900 to $499,900 aren’t selling. TBE lots that have been on the market since the big bang and are now priced as low as $179,000 (no GST on this one) to $209,900 aren’t selling. What do you think Greypointe has planned? Will the developer undercut everyone else’s pricing? If so, that should end the beautiful friendship between the Sangaras and the Claytons. I can’t see Greypointe building spec homes because they aren’t selling on the SC either. This will be very interesting to watch.


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04-13-2015, 11:03 AM, (This post was last modified: 04-13-2015, 11:49 AM by Skook.)
#5
RE: Sechelt Development - Trail Bay Estates
April 13, 2015 Update:

Let’s begin this long overdue update by congratulating Trail Bay Estates on its lot sale in December – Lot 12 moved on the 12th at $184,900. Yes, it was the only sale in 2014, but on the positive side that was one more sale than in 2013!

On a sadder note, the Trail Bay Estates website is no more. Why, it seems like only yesterday I visited it and said to myself, “Wow, I’m surprised this site is still up and running.” I think that was at the end of December. So, in recognition of this 'passing of the torch,' I have decided to post one more spreadsheet update and that will likely be it for TBE.

I have no idea what the future holds for TBE. As of today, 54 lots have definitely sold. That leaves only 12 unsold lots and 11 of those are currently listed. One lot (#66) is a question mark since I can’t find proof it sold and hasn't been listed the past two years.

Now, the best that I can determine is only 21 homes have been built out of a potential 54. This works out to 39%. In other words, 61% of those sold lots were likely bought as investments to flip in a few years at a profit; but, there they sit – empty – and you can’t force people to build on them if they don’t want to or never planned to. I am sure the owners would love to sell but many of the early buyers paid close to $300,000 (maybe more?) when you factor in all the extra costs. Throw in property taxes since then and...well, you get the picture. It is an unfortunate situation and I’m sure not one the developer foresaw. As an aside, I've been informed you can’t make owners cut down the alder, broom and weeds that in time overtake these vacant lots – well, they would if I ran things (would go with the itty, bitty moustache under my nose).

So, I updated the spreadsheet and it’s big – we are talking 2009 to 2015, here. I’ve done some testing and the best way to view it is to download it to your own computer and print it off – believe it or not it does fit nicely on a letter-size piece of paper – the print is small but you don’t have to scroll. So, click on the image below and the spreadsheet will open in a new browser tab. Right click on the image and click ‘Save image as” or something similar depending on your browser. If you use Windows, save to a picture folder. Clicking the image should open it in Windows Photo Viewer. Increase the magnification by about a 1/3 and it fits nicely across the screen. If you decide to print the spreadsheet, remove the checkmark from “Fit picture to frame” first. You can grab the Sechelt address map image, too.

   

   

******************************

A while back, I was given some old copies of the Coast Reporter and there were lots of gems in the real estate sections. As an example, here are three separate listings spanning three years for one of TBE’s original spec homes.

[Image: attachment.php?aid=1102]

I’m not sure how things worked at TBE. I had the impression that maybe an independent construction company bought a lot and built a spec home as a sort of calling card to drum up business. Anyways, I don’t think this home at 5959 Barnacle St (Lot 6) ever sold. I have it in the spreadsheet as an OL (owner list) because if a builder bought the lot then he/she owns the house and not the Claytons (land developer), right?

You will notice in the spreadsheet this home was relisted only few weeks back on March 25th. The MLS listing number is V1113005. The listing price is...$599,900. Its property assessment dropped, again – fourth year in a row. That scenerio is pretty much the same for all TBE properties. Sadly, that big, beautiful oceanview isn’t worth a plugged nickel when no one’s buying. Maybe this year.

Any thoughts on TBE or west Sechelt development in general? Feel free to post below (click “New Reply”) or start a new west Sechelt thread.


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04-14-2015, 10:01 AM,
#6
RE: Sechelt Development - Trail Bay Estates
Wow, interesting post. I can't believe only 12 lots are unsold in TBE. I would have thought it was 60-70% unsold.

5959 Barnacle looks to be a decent house but Trail Bay is such a desolate moonscape and Barnacle is the most deserted part of the development. The group of 5 or 6 houses going north on Clayton are nice enough but all three east-west streets (Compass, Cowrie and Barnacle) are just so empty. I personally would never want to be so isolated. I would want to be in a neighbourhood, and I'm guessing that it will possibly be one or two decades before this becomes one.
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04-14-2015, 11:17 AM, (This post was last modified: 04-14-2015, 11:32 AM by Skook.)
#7
RE: Sechelt Development - Trail Bay Estates
I agree Philpout it does seem hard to believe; but, what I post next might help.

******************************

I had a thought after my yesterday post and did a google search. The google result included two websites that I feel are worth mentioning because they give credence to what I said above.

The first site is a WordPress blog created by the owners of Lot 23 on April 11, 2013. My spreadsheet indicates I knew this was a FSBO listing (For Sale By Owner), but I must have had another info source because I give an exact list date of January 12, 2013. I want to show a page image just in case the site disappears in the not too distant future.

The text in that blog post tells us that the lot owners already live in Sechelt and have done so for the last 20 years (you can tack on two more years). Now, why did they buy this lot in Trail Bay Estates? Did they plan to build a new home? Doesn’t look like it. Any thoughts on how many other “locals” own lots in TBE or in other SC development projects? Probably more than a few.

[Image: attachment.php?aid=1103]

As a real estate investment, buying a lot in TBE prior to 2009 make perfect sense. The 2006 census indicated that the Sunshine Coast had experienced the strongest population growth in BC during the previous few years. Who could imagine it coming to a screeching halt? That is real estate for you. When the boom is on its one big party, but when it crashes it behaves like a big Ponzi scheme. Lord help you if you’ve put all your eggs in this one investment basket.

This is what many are saying about the real estate market in Vancouver right now – that it is not foreign money driving up prices but locals “investing." Oh, hot Asian money played a role in west Van and Van West in the recent past, but what’s happening east Cambie and now Main – that’s local. Ever dropping mortgage rates are only encouraging the frenzy.

The second site is the ReMax Oceanview Realty webpage listing for Lot 8 Barnacle St. It’s the pics that are worth viewing. In my first post in this TBE thread I directed viewers to agent websites and listings for the pics but by now they’ve either culled them, still use old pics or the listings are gone altogether. But, this Lot 8 listing went up just this past December so the pics are recent; before these are “culled,” I’ve grabbed a few screenshots.

On the left below, the view is from Lot 8 looking north along Barnacle St towards the house on Lot 13. You can scroll back to the first thread post for the TBE site map. The roadway to the left of the house is Highway 101 – the main route up and down the SC from the ferry terminal to Earls Cove. That area to the right beyond the home is the new Silverstone Heights development.

As for the picture on the right, I’m not sure why the rodent’s eye view; but, on the plus side it’s excellent for showing us how the lots are maintained – ‘sold’ or otherwise. So, Lot 8 is a developer listing – the lot has never been sold. Lots 9 & 10 were both purchased before August 2008 and sit empty. Lot 11 is a current developer listing. Lot 12 is the developer’s lot that sold this past December.

[Image: attachment.php?aid=1104]

The agent has also put together a video tour and includes some additional snaps like the one below – it’s my fav. Also, for some unknown reason, the agent includes a pic of Lot 60 – go figure. Yep, I think this video tour needs to edited real soon (be sure to turn up the volume – zzzzzzzzzzzzz).

[Image: attachment.php?aid=1105]

There hasn’t been a lot of activity at TBE since 2007 and I wouldn’t be surprised if critters moved into the vacant spaces when clearing got underway next door at Silverstone Heights. Here’s some advice for those building beside overgrown lots anywhere and this comes from my own parent’s experience. Keep a regular eye on the home as it goes up to ensure the builder is filling in every nook, cranny, gap, and the space around anything coming in and going out; otherwise, you’ll be needing a cat and a good supply of traps. And, don’t forget that rodents climb. I was sitting on the deck one day and watched a nice, big fat mouse scoot up the board and batten façade and was trying to wiggle into the soffit before it got wacked. We started the soffit inspection that afternoon.


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04-14-2015, 01:24 PM, (This post was last modified: 04-14-2015, 01:28 PM by RFM.)
#8
RE: Sechelt Development - Trail Bay Estates
All of this is fascinating to me; so much so that this morning I went on Google Earth and used 'street view' to drive around that development. Unfortunately, the imagery is from 2011 so there is not much to see as pertains to the current condition.

In the Pleistocene epoch, when I was more active in developing commercial property, we used to plow our undeveloped land every year so as to minimize the rodent population explosion, control weeds and tsk, tsk, make sure that NO protected species made our land their home. I doubt that there has been much maintenance here and it would be nice if someone from Sechelt drove over and took some current photos.

I want to mention two other things about this development:

First, situated as close as it is to Hwy 101, you should be aware that traffic noise travels upwards. If you want to read an exhaustive discourse on that subject, just click here. The obvious fact to me, just looking at the photos you've posted is that all those lots will suffer significant traffic noise, which seems a bit inconsistent with the 'idyllic' lifestyle promoted for that development.

Second, I'll repeat here my concise list of the pros and cons of vacant land as an investment.

The upside:
Potential increase in value
Build the house you really want

The downside:
Potential decrease in value
Complicated for average person to build the house you really want
Notoriously difficult to finance
No cash flow
Property taxes and/or association fees
Maintenance and/or liability insurance
Value dependant on the area’s fortunes
Permits and approvals may become more difficult as ordinances and political changes occur
Zoning restrictions
Illiquid
Few tax benefits, including that you can’t depreciate land

By and large, vacant land continues to be the domain of the strong sophisticated investor with a diversified portfolio.
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05-13-2015, 03:04 PM, (This post was last modified: 05-13-2015, 03:04 PM by colharpnick.)
#9
RE: Sechelt Development - Trail Bay Estates
I live over on East Porpoise Bay, and have been following your threads for a year or so now. It's interesting to read all the followup on what's going on around the Coast. I happen to drive by the Onni project several times a day, and go up to TBE from time to time to cruise around. If you're ever wanting updated photos in the Sechelt area, send me a message with what you're after.

Edit: And yes, I joined just to make the offer, and compliment you on your research.
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09-01-2015, 10:28 AM, (This post was last modified: 09-02-2015, 11:46 AM by Skook.)
#10
RE: Sechelt Development - Trail Bay Estates
I have lived in Trail Bay Estates for over 4 years now, so I'll take a stab at responding to your question in your original post -

"the question ‘What makes a development such as this a success?’ lodged in the back of my mind. It is the mere selling of lots or is it the building of homes on those lots and establishing a thriving community?"

I think the answer depends on "who" we are talking about.

From the developer's point of view, initially selling most of the lots seems to be a short term win. In the longer term though, the reputation of the developer begins to get tarnished when the property does not become an active neighbourhood and becomes an eyesore.

From the resident's point of view, success looks like a pleasant, safe, interesting and prosperous neighbourhood, with the prospect of retaining or increasing property value in the future.

So, from either perspective, Trail Bay Estates presents "an opportunity for significant improvement". And this is what a majority of the current residents have concluded.

Last night the developer (Clayton Family Lands, represented by Tom Christoff) held an information session for the proposed rezoning of land to support Trail Bay Estates Phase 2a, involving an addition of 11 new lots. The residents of the current Trail Bay Estates who attended expressed concern about the state of the current development, and Tom promised that improvements would be made.

I have attached a few pictures from today. I hope to report a significant improvement in the look of the vacant lots in the coming months. I truly hope.

           

We bought in Trail Bay Estates because of the beautiful view from our house, and the ease of walking to the village centre. We are glad we did buy, and have indeed enjoyed looking out at the goings on in the Straight, and walking frequently down to the village - e.g. last night's information session.

There are signs of life on the Sechelt real estate market, and even one new house being built in Trail Bay Estates and another lot newly sold.

        .

I am looking forward to living in a real neighbourhood sometime before I die.

(Skook Note: My modification of this post was to tweak the picture alignment to fit better with the text - that’s all folks. Hope you don't mind, ddhawk)
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