11-13-2013, 09:50 PM
It’s incredible to believe but two new condo projects in Gibsons are in the works and both listed their “as-yet-to-be-constructed” units last week on MLS. This post will look at Soames Place at 875 Gibsons Way.
The composite image below begins with two images snagged from the development’s website followed by a description placed on its fairly new Facebook page. The map shows the project’s location in Gibsons (red “X”) and the two streetview images show the vacant lot that will, the developer hopes, be the future home of Soames Place - snugly sandwiched between the PetroCanada gas station and Sita’s Spag & Suds Italian restaurant; both businesses, no doubt, excited at the prospects.
I decided to expend a tad extra effort on this project because of who I see as their primary target market and the social media tools they (the Realtors) are employing to reach that target; we’re talking Facebook and Twitter. However, before I explore those tools let’s find out about this project from its website sole blog post (Note:highlighting and underlining are my own):
Now, it’s the “marketing buzzwords” that give a clue as to whom the target market is; so let’s list them. From the above quote:
Now the big question is what is the size of this population segment in the Gibsons area? Today, I uploaded the 2011 census results for both Gibsons area and District of Sechelt here in the VanPeak forum in my ‘Demographics and other fun stuff…’ thread. That census counted 630 individuals in the Gibsons area and 735 in the DoS in the 25 - 34 year old age bracket. I would hazard that more than half of those individuals are married to each other, came to work in construction related jobs during the ‘Sunshine Coast Land Rush 2005-2006’, live in their own homes, townhomes or condos and are thus already mortgaged to the eyeballs. I also wouldn’t be surprised to learn that many of those individuals are finding it struggle to live due to the slowdown in construction and that they are behind the many Sunshine Coast homes currently listed on MLS. Hence the turn to social media to possibly attract newcomers to the coast which explains the “If you frequent Vancouver or commute to work…” in the quote above.
Will it work? I have pulled the only “conversation” so far on the Soames Place Facebook page. Now, the Facebook and Twitter sites have both been set-up by the Realtors marketing the project, Lynette & Cody Robinson of The Robinson Group (I am under the impression they are a mother and son team due to the FB comment, “I will put a few of your mums cards in my pocket”) who are affliated with Sutton Group-WestCoast Realty. The Facebook page got off the ground on October 18th and so far there are 60 Likes; however, if you take a closer look at those “Likes” you discovers most are from the developer, a family member, individuals tied to the real estate industry either on the coast or in Vancouver, and likely a few past Robinson Group clients. The “Most Popular Age Group” fits the bill but I think that includes the developer, his family member and any friends they may have sent the Facebook address to. You have to remember a Facebook page will only “trend” the more “Likes” you get.
Now, the graph which I grabbed today shows interest is definitely falling off and quickly. This is the whole issue with social marketing - if you're not posting daily and expanding and engaging your “network” then the whole exercise is pointless. This view is supported by the following info explaining what “People Talking About This” means found on the ‘WebMarketingToday’ website:
The irony in all this social media marketing came home the other night with a CBC National News piece - the young are leaving Facebook in droves and Facebook admits it (‘Facebook profits at risk as teens look elsewhere’). Just when it’s been fully embraced by businesses and adults over 40 you find the largest user segment is kissing it goodbye. Why? For just that exact reason - that FB has become a marketing tool and their parents and grandparents have jumped on board. Of course, Soames Place isn’t targeting teens but they are the trend setters when it comes to social media use.
Now, the FB conversation I mentioned above and which I show below is likely closer to the mark as to whom the Robsinsons really want to reach - investors! I think they know those urban demographics aren’t working in their favour. So, this individual who lives in Vancouver and who may already own investment property on the coast made Cody Robinson’s day with:
“I will however mention it to friends who might want to invest…If one can rent…”
Robinson’s response: “Yes rentals will be allowed! Please pass my contact along…”
Oh, happy day.
We mustn’t ignore Twitter. Alas, as the image below shows there has not been a “Tweet” twitted and the only followers include the developer, Mr. Lee; the Realtor, Cody Robinson; and, Hootsuite. Hootsuite? That’s the hugely successful Vancouver-based company that’s developed an application that allows you to access all your social networking from one “user-friendly” interface. Of course, it gets more complicated for large businesses and corporations - so much so, that you can enroll your employees in Hootsuite University so they can learn how to fully “engage.” If you ever receive an email, tweet or see a post that has an “Ow.ly “ link it was created in Hootsuite.
The developer behind ‘Soames Place’ is Leeon Projects Ltd and according to the project website:
Prior to setting up the Soames Place website, the Leeon website announced pre-construction sales would begin in September and you could contact Mr. Andrew Lee personally. That one page site also listed Leeon’s business address which happens to be the address for the Sunshine Lodge Inn on North Rd in Gibsons - just around the corner from the Soames Place location. And, thanks to Facebook we can meet Mr. Andrew Lee via his own Facebook page and without even having to join FB we learn that Mr. Lee was so taken with the Vdara Resort Hotel & Spa in Las Vegas that he chose its logo wall to back drop his own pic. In fact, I think he was sitting in one of its lounges eating a meal when his pic was taken. Young, urban and edgy.
Mr. Lee’s LinkedIn “teaser” page (what LinkedIn - business networking site - allows you to see via Google without joining) tells us he is a ‘Real Estate Professional’ in Burnaby, British Columbia and from 2009-2011 was Junior Accountant at Leeon Projects Ltd. I am taking this as meaning he was learning the ropes at the family business and now is fully “engaged” and perhaps this stylish designed, affordably priced, unbeatably located project in Gibsons is his own endeavour. Bon chance, Mr. Lee!
Now, I mentioned above that we could ignore that announced starting price of $225,300 and here’s why. Gibsons has adopted a policy requiring all new developments to offer a few units of affordable housing to ensure they successfully procure their rezoning and development permits. As a June 8, 2013 Coast Reporter piece explained (see quote below), Leeon Projects initially had some difficulty meeting this requirement but then came through with two units.
It just so happens there are 2 - 1 bed/1bathroom units (205, 405) each at 735sf (smallest available) have not been put up on MLS. I think these likely carry that $225,300 price tag with the “incentive” being that you have to plead poverty and apply through the Town of Gibsons for consideration. The remaining 1bed/1bath unit (305) is listed at $269,500 which is a far cry from that $225,300 price - I doubt if any early bird purchase discount has ever reached 16.5% on the SC but these are interesting times so who knows.
Okay, let’s check out this edifice supposedly “Where Style and Sophistication Connect with Nature” whilst located across from the Sunnycrest Mall on that highly industrial, commercial route known as Gibsons Way. Right off the top, I want to say that I am 100% for any complex with commercial space below. In my opinion strip malls should never have been allowed and those that exist should be torn down and only buildings such as this be put in their place. That being said the issue is can Gibsons absorb the commercial space? If the 4 commercial units sell at Soames Place, I expect it will be at the expense of older leased commercial units.
So, the image below shows the exterior, the layouts of levels 1 (commercial), 2 and 4 (level 3 is the same as level 2 but with the smaller balconies). I also show three of the floorplans; there are 11 but most are slight variations of ‘B’ with G, H and J being the largest units on level 4.
I recommend a visit to the Soames Place website as you can take a panoramic video tour of the views offered from the units and floor levels (click on a unit floorplan). Just remember that should the building become a ‘fait accompli’ you will have to put on and securely hook up your harness before leaning out over the balcony rail to take in the views from all but one of the units on level 3 and from 4 of the 5 smaller units on level 4. Safety first!
Here is the 'Soames Place' spreadsheet with all available listing info at this time:
Finally, I thought it would be interesting to take a look around the ‘hood at some the other listed units that are directly in competition with Soames Place for that rare and elusive subspecies of Homo sapiens called “the real estate buyer.”
Only Blue Heron Village is another condo/commercial complex. All the other listings are townhomes such as those at Island Vista at 665 Crucil Rd that are 1500-2198sf and never been lived in. There are the two new 1000sf duplexes on Gerussi Lane. Also, we could include the seven new 2 & 3 bedroom, 1,088 to 1360sf detached homes reduced to $309,000 - $339,000 at the Mews off Gerussi Lane (not indicated on map above because they are homes). The townhomes at 735 Park Rd are only 8 - 14 years old and range in size from 1265-1634sf.
I wonder why so many townhomes other than the new builds are now on the market. Maybe the current owners are looking at the continuously falling single detached house prices on the coast thinking, “I could buy now if I could only sell.” Or, maybe they’ve lost their jobs and want to move to Saskatchewan where there’s work. Or, maybe they’re buying into the marketing hype and want to be stylish, sophisticated, and live right in the middle of it all by paying much more for much less.
November 14, 2013 Update:
I had meant to include another interesting tidbit in my conclusion but forgot. In that June 8, 2013 Coast Reporter story I quoted from and linked to above, there was a second project given the green light by Gibsons town council. Wait for it…“a 28-unit townhouse development on Park Road put forward by Sunbelt Properties.” Do you believe it!!!
All those townhomes on the market shown above and Sunbelt in its infinite wisdom thinks this Gibsons area needs more.
The composite image below begins with two images snagged from the development’s website followed by a description placed on its fairly new Facebook page. The map shows the project’s location in Gibsons (red “X”) and the two streetview images show the vacant lot that will, the developer hopes, be the future home of Soames Place - snugly sandwiched between the PetroCanada gas station and Sita’s Spag & Suds Italian restaurant; both businesses, no doubt, excited at the prospects.
I decided to expend a tad extra effort on this project because of who I see as their primary target market and the social media tools they (the Realtors) are employing to reach that target; we’re talking Facebook and Twitter. However, before I explore those tools let’s find out about this project from its website sole blog post (Note:highlighting and underlining are my own):
Quote:October 31, 2013
Affordable, urban style living in the heart of Gibsons, BC. Soames Place consists of 28 Residential condominium units, 4 commercial units with amenities including a meeting room, ample parking and bike storage.
With prices starting at only $225,300 and a guaranteed 5yr fixed, 3.70% mortgage rate, this makes Soames Place an easy and affordable stepping stone in to home ownership or just to eliminate your current mortgage and down size in to one of these homes.
Soames Place has been designed with a “West Coast” feel in mind and boasts quality interior finishing’s [sic] in each unit including quartz countertops, stylish subway tile back splash, laminate flooring and a whirlpool stainless steel appliance package.
With all amenities just steps away, you’ll find no need to get in to your car. Soames Place is located across from Sunnycrest Mall for all of your shopping needs! For families, walk your children a block and a 1⁄2 to elementary school, which is currently going through a $3 million upgrade, and your older children a short walk across Gibsons Way to Elphinstone Secondary School. If you frequent Vancouver for pleasure or commute to work, you have the convenience of public transit with a new and improved schedule, right outside your door! The list goes on, with community centre, walking trails and parks all within minutes of Soames Place.
AFFORDABLE PRICING. UNBEATABLE LOCATION. STYLISH DESIGN.
Register Online Today or call our sales centre at 1.866.565.6537.
Now, it’s the “marketing buzzwords” that give a clue as to whom the target market is; so let’s list them. From the above quote:
- Affordable, Affordable Pricing
- Urban style living
- Unbeatable location
- Stylish design
- Style, Stylish, Sophistication
- Urban Style
- In the heart of Gibsons
- Opportunity to live right in the middle of it all
- Connect with nature
Now the big question is what is the size of this population segment in the Gibsons area? Today, I uploaded the 2011 census results for both Gibsons area and District of Sechelt here in the VanPeak forum in my ‘Demographics and other fun stuff…’ thread. That census counted 630 individuals in the Gibsons area and 735 in the DoS in the 25 - 34 year old age bracket. I would hazard that more than half of those individuals are married to each other, came to work in construction related jobs during the ‘Sunshine Coast Land Rush 2005-2006’, live in their own homes, townhomes or condos and are thus already mortgaged to the eyeballs. I also wouldn’t be surprised to learn that many of those individuals are finding it struggle to live due to the slowdown in construction and that they are behind the many Sunshine Coast homes currently listed on MLS. Hence the turn to social media to possibly attract newcomers to the coast which explains the “If you frequent Vancouver or commute to work…” in the quote above.
Will it work? I have pulled the only “conversation” so far on the Soames Place Facebook page. Now, the Facebook and Twitter sites have both been set-up by the Realtors marketing the project, Lynette & Cody Robinson of The Robinson Group (I am under the impression they are a mother and son team due to the FB comment, “I will put a few of your mums cards in my pocket”) who are affliated with Sutton Group-WestCoast Realty. The Facebook page got off the ground on October 18th and so far there are 60 Likes; however, if you take a closer look at those “Likes” you discovers most are from the developer, a family member, individuals tied to the real estate industry either on the coast or in Vancouver, and likely a few past Robinson Group clients. The “Most Popular Age Group” fits the bill but I think that includes the developer, his family member and any friends they may have sent the Facebook address to. You have to remember a Facebook page will only “trend” the more “Likes” you get.
Now, the graph which I grabbed today shows interest is definitely falling off and quickly. This is the whole issue with social marketing - if you're not posting daily and expanding and engaging your “network” then the whole exercise is pointless. This view is supported by the following info explaining what “People Talking About This” means found on the ‘WebMarketingToday’ website:
Quote:What Is ‘People Talking About This’ — PTAT? Here is how Facebook defines the metric.
“People Talking About This” is the number of people who have created a story from your Page post. Stories include:So whenever any of the above actions are carried out by a unique user, and as a result, a News Feed story is generated, your page’s “People Talking About This” metric goes up by one. In short, “People Talking About This” is all about fans creating stories about your page.
- Sharing. Shares of your page’s updates, videos, images, and activities.
- Page Likes. Every instance when Facebook users click “Like” on your page.
- Commenting on your post. Comments to Facebook posts and updates.
- Mentions and photo tags. Users tagging your page in their post updates or tagging you in their photos.
- Check-ins. Facebook local check-ins to your Places page.
- Responding to an event. Responding to events — attending, not attending, or not sure.
- Claiming an offer. Redeeming a Facebook page offer — the process would involve Facebook emailing the claimed offer.
As an example, if your fans or even non-fans Liked, shared, commented, participated in a poll, attended a Facebook event you hosted, or claimed an offer from your page, each unique person that carries out these actions increases your PTAT number by one. Each person adds a point — so a Like and a comment by a fan on a post would add one point to your PTAT count.
A mention of your page as a status message on fans’ or non fans’ pages without tagging your page is null; however, tagging your page in their status or in a photograph they post creates a PTAT point.
Points to remember:
“People Talking About This” reveals only seven days of engagement data. The first point to note about PTAT is that it only shows your page’s engagement performance over seven days and does not give full insight into your page’s overall performance. If you had been inactive on Facebook for the last week, then your PTAT would reflect it — but this would not indicate that your EdgeRank or potential reach is low.
Expect 1 to 10 percent of your fans to create stories about your page. Even hugely popular Facebook pages expect only a minute fraction of their fans engaging with their posts and activities on Facebook. Depending on the kind of content you share, your page’s PTAT would likely be 1 percent of your fan base. Consider anything above 1 percent, without the aid of advertising, above average. Anything above 3 percent without promotion indicates good engagement.
What is critical for effective Facebook marketing is better understanding the kind of people that interact with your page and the type of content that drives engagement.
The irony in all this social media marketing came home the other night with a CBC National News piece - the young are leaving Facebook in droves and Facebook admits it (‘Facebook profits at risk as teens look elsewhere’). Just when it’s been fully embraced by businesses and adults over 40 you find the largest user segment is kissing it goodbye. Why? For just that exact reason - that FB has become a marketing tool and their parents and grandparents have jumped on board. Of course, Soames Place isn’t targeting teens but they are the trend setters when it comes to social media use.
Now, the FB conversation I mentioned above and which I show below is likely closer to the mark as to whom the Robsinsons really want to reach - investors! I think they know those urban demographics aren’t working in their favour. So, this individual who lives in Vancouver and who may already own investment property on the coast made Cody Robinson’s day with:
“I will however mention it to friends who might want to invest…If one can rent…”
Robinson’s response: “Yes rentals will be allowed! Please pass my contact along…”
Oh, happy day.
We mustn’t ignore Twitter. Alas, as the image below shows there has not been a “Tweet” twitted and the only followers include the developer, Mr. Lee; the Realtor, Cody Robinson; and, Hootsuite. Hootsuite? That’s the hugely successful Vancouver-based company that’s developed an application that allows you to access all your social networking from one “user-friendly” interface. Of course, it gets more complicated for large businesses and corporations - so much so, that you can enroll your employees in Hootsuite University so they can learn how to fully “engage.” If you ever receive an email, tweet or see a post that has an “Ow.ly “ link it was created in Hootsuite.
The developer behind ‘Soames Place’ is Leeon Projects Ltd and according to the project website:
Quote:Leeon Projects LTD. Is a local Sunshine Coast based development company that currently also owns and operates local businesses in the community. Leeon Projects Ltd is dedicated to improving local community and lifestyle on the Sunshine Coast by focusing solely on locally based projects.
Prior to setting up the Soames Place website, the Leeon website announced pre-construction sales would begin in September and you could contact Mr. Andrew Lee personally. That one page site also listed Leeon’s business address which happens to be the address for the Sunshine Lodge Inn on North Rd in Gibsons - just around the corner from the Soames Place location. And, thanks to Facebook we can meet Mr. Andrew Lee via his own Facebook page and without even having to join FB we learn that Mr. Lee was so taken with the Vdara Resort Hotel & Spa in Las Vegas that he chose its logo wall to back drop his own pic. In fact, I think he was sitting in one of its lounges eating a meal when his pic was taken. Young, urban and edgy.
Mr. Lee’s LinkedIn “teaser” page (what LinkedIn - business networking site - allows you to see via Google without joining) tells us he is a ‘Real Estate Professional’ in Burnaby, British Columbia and from 2009-2011 was Junior Accountant at Leeon Projects Ltd. I am taking this as meaning he was learning the ropes at the family business and now is fully “engaged” and perhaps this stylish designed, affordably priced, unbeatably located project in Gibsons is his own endeavour. Bon chance, Mr. Lee!
Now, I mentioned above that we could ignore that announced starting price of $225,300 and here’s why. Gibsons has adopted a policy requiring all new developments to offer a few units of affordable housing to ensure they successfully procure their rezoning and development permits. As a June 8, 2013 Coast Reporter piece explained (see quote below), Leeon Projects initially had some difficulty meeting this requirement but then came through with two units.
Quote:The second housing project is a four-storey commercial/residential development on Gibsons Way next to PetroCan put forward by Leeon Projects Ltd.
The proposal was not supported by council at their May 7 meeting, because there was only one affordable housing unit in the plan. The proposal was brought back for a further discussion at the May 28 committee of the whole meeting following a letter from Leeon Projects. Staff met with the applicant and came back to council with a report on June 4.
“Leeon Projects has applied for rezoning and a development permit,” Boel said. “With regards to community amenities and affordable housing, the proposal now includes two price restricted affordable units priced below $241,000 and the inclusion of community amenities in the frontage of the development. The price point of the affordable housing units meets current affordability requirements and the proposed amenities improve the overall quality of the development.”
Council endorsed the project in principle while requesting staff work with the applicant on further details and to bring back a housing agreement and bylaw for consideration after completion of the rezoning process.
“I’d just like to thank the members of council for going through this process,” said Coun. Dan Bouman. “The discussion was maybe a little testy at times, but I feel this will be a great project, be highly successful and contribute to the Town.”
It just so happens there are 2 - 1 bed/1bathroom units (205, 405) each at 735sf (smallest available) have not been put up on MLS. I think these likely carry that $225,300 price tag with the “incentive” being that you have to plead poverty and apply through the Town of Gibsons for consideration. The remaining 1bed/1bath unit (305) is listed at $269,500 which is a far cry from that $225,300 price - I doubt if any early bird purchase discount has ever reached 16.5% on the SC but these are interesting times so who knows.
Okay, let’s check out this edifice supposedly “Where Style and Sophistication Connect with Nature” whilst located across from the Sunnycrest Mall on that highly industrial, commercial route known as Gibsons Way. Right off the top, I want to say that I am 100% for any complex with commercial space below. In my opinion strip malls should never have been allowed and those that exist should be torn down and only buildings such as this be put in their place. That being said the issue is can Gibsons absorb the commercial space? If the 4 commercial units sell at Soames Place, I expect it will be at the expense of older leased commercial units.
So, the image below shows the exterior, the layouts of levels 1 (commercial), 2 and 4 (level 3 is the same as level 2 but with the smaller balconies). I also show three of the floorplans; there are 11 but most are slight variations of ‘B’ with G, H and J being the largest units on level 4.
I recommend a visit to the Soames Place website as you can take a panoramic video tour of the views offered from the units and floor levels (click on a unit floorplan). Just remember that should the building become a ‘fait accompli’ you will have to put on and securely hook up your harness before leaning out over the balcony rail to take in the views from all but one of the units on level 3 and from 4 of the 5 smaller units on level 4. Safety first!
Here is the 'Soames Place' spreadsheet with all available listing info at this time:
Finally, I thought it would be interesting to take a look around the ‘hood at some the other listed units that are directly in competition with Soames Place for that rare and elusive subspecies of Homo sapiens called “the real estate buyer.”
Only Blue Heron Village is another condo/commercial complex. All the other listings are townhomes such as those at Island Vista at 665 Crucil Rd that are 1500-2198sf and never been lived in. There are the two new 1000sf duplexes on Gerussi Lane. Also, we could include the seven new 2 & 3 bedroom, 1,088 to 1360sf detached homes reduced to $309,000 - $339,000 at the Mews off Gerussi Lane (not indicated on map above because they are homes). The townhomes at 735 Park Rd are only 8 - 14 years old and range in size from 1265-1634sf.
I wonder why so many townhomes other than the new builds are now on the market. Maybe the current owners are looking at the continuously falling single detached house prices on the coast thinking, “I could buy now if I could only sell.” Or, maybe they’ve lost their jobs and want to move to Saskatchewan where there’s work. Or, maybe they’re buying into the marketing hype and want to be stylish, sophisticated, and live right in the middle of it all by paying much more for much less.
November 14, 2013 Update:
I had meant to include another interesting tidbit in my conclusion but forgot. In that June 8, 2013 Coast Reporter story I quoted from and linked to above, there was a second project given the green light by Gibsons town council. Wait for it…“a 28-unit townhouse development on Park Road put forward by Sunbelt Properties.” Do you believe it!!!
All those townhomes on the market shown above and Sunbelt in its infinite wisdom thinks this Gibsons area needs more.