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Sunshine Coast, BC - Its collapsing real estate market.
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03-05-2014, 07:07 PM,
(This post was last modified: 03-05-2014, 08:27 PM by Skook.)
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RE: Sunshine Coast, BC - Its collapsing real estate market.
Another one bites the dust
Another one bites the dust And another one gone, and another one gone Another one bites the dust A couple weeks ago, this new land listing on SC Realtor® Gary Little’s Interactive RE Map caught my eye. I thought, “Hmm, I wonder…“ You see back in June there was a Coast Reporter story that caught my eye. The piece was about a new Halfmoon Bay draft OCP (Official Community Plan) being put forward for public review and approval. However, near the end of the news story was this tidbit… Quote:Meanwhile, the SCRD planning and development committee voted June 20 to defer Nanaimo-based 3L Developments’ proposal for a 135-lot subdivision and small commercial hub above the intersection of Highway 101 and the north end of Redrooffs Road. However, the real gem in the story came next... Quote:Appearing with Atwall was Clark Hamilton, president of the Coast Community Builders Association, who spoke in support of the project and the employment opportunities it would create. The only other mention I’ve come across of Sunshine Coast builders publicly interceding on behalf of a developer occurred back in 2008; you know when SC real estate was entering the second year of its big collapse. The project worthy of such divine intercession was that gorilla of a project - 'Silverback on Porpoise Bay' and that development led my ‘Dead Ducks, Non-fliers & Snake Oil’ thread. Now, unlike with Silverback, the support of the Builders Association didn’t move mountains. Quote:After the presentations, the committee voted to put the rezoning bylaw on hold until the board adopts the new Halfmoon Bay OCP. District of Sechelt director Darnelda Siegers opposed the motion. Under the draft OCP, the 3L property retains its current resource designation. It wasn’t this rezoning wait that has brought this project crashing down; no, it's something far more serious and if only the Coast Community Builders Association had conducted a little internet research they might have concluded all was doomed. Of course, as soon as I saw that land listing and associated it with that Coast Reporter story, I started my research into 3L Developments. I found its website and as I sat there looking at it I was thinking, “This doesn’t look like a developer’s website, this looks like a logging company website.” Well, guess what… Quote:3L Developments is a division of Lemare Lake Logging, which originated in Port McNeill in 1984 and has become the largest contractor of its kind on Vancouver Island. This expertise allows us to handle our own road building and site servicing, so we can ensure each site’s sensitive ecological areas are protected. So, I started researching Lemare Lake Logging…well my golly, gosh…look what I found at Industry Canada’s Office of the Superintendent of Bankruptcy Canada. Now, I am going to stop here because I think this project, 3L Developments and the parent company behind it are worthy of the "Skook Treatment" and for that I need a little more time to pull the research together; but, here’s a teaser: the story is worth any penned by that great American myth-maker Horatio Alger. I just have one more detail I want to share. Do you know you can actually see these 160 clear cut acres 90 miles (146 km) above the earth? That’s from the Thermosphere - the same atmospheric layer the International Space Station zooms around the earth in. it’s true, I looked it up here. (Note: 3L Developments didn’t do the clear cutting, but did some substantial surface scrapping after). |
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