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Gibsons Development - Blue Heron Village
06-21-2014, 11:14 AM, (This post was last modified: 06-20-2016, 12:45 PM by Skook.)
#3
RE: Gibsons Development - Blue Heron Village
June 21, 2014 Update:

I have mentioned here before at VanPeak that when I see a development begin posting its “for sale” units on Craigslist I begin thinking the project is in trouble. Watermark’s commercial units began appearing in March and sure enough as of today all its retail commercial units remain unsold.

The latest Sunshine Coast development to make a Craigslist appearance is the Phase 2 Blue Heron Village complex in Gibsons. In the image below, you can see that the second floor “live/work” residential units postings appear over three days from May 27 to June 4. The ads included the most recent construction pics and according to the developer the project will be completed sometime this summer.

[Image: attachment.php?aid=931]

I have updated the Phase 2 spreadsheet because there has in fact been one sale. Unit 206, was “under offer” when the units were first listed. That “offer” must have fallen through because the unit was listed on April 23 at $259,000. It sold June 9 for $250,969.

So, as the complex approaches its summer completion date, five of the six “live/work” residences/offices remain unsold. As well, none of the ground level commercial units have been leased since all five are still listed on ICX.ca as of June 20th.

[Image: attachment.php?aid=932]

Blue Heron Village ran the ad below in the Sunshine Coast's weekly newspapers (The Local, Coast Reporter) in March and first week of June.

[Image: attachment.php?aid=933]

The ad encouraged visitors to drop by the Blue Heron Village booth at the Sunshine Coast 2014 Home & Cottage Show held on June 14th at the Gibson & Area Community Centre. The show is the brainchild of the Coast Communities Builders Association (CCBA). The H&C Show’s website says last weekend’s event was a ripping success (“the best one yet!”) with nearly 1600 in attendance (exhibitor booth pics have been uploaded now, too).

The Blue Heron Village project wasn’t the only development hoping to the drum up interest at this year’s show. Leeon Projects had a booth promoting its Gibsons condo development - Soames Place. As well, Onni Group was pushing its Sechelt townhouse development - Edgewater at Porpoise Bay. I wouldn’t be at all surprised to learn these developments are in the same pickle as Blue Heron Village. We’ll have to keep an eye on the sales data in the weeks ahead to see if the any of these developments made back their attendance and advertising fees.

As for Longman Developments and its Blue Heron Village project, the lack of sales and leasing has to be unsettling to say the least. In addition, Longman owns another commercial building on Gibsons Way - Coast Professional Building. Three units are sitting empty in that building and have been since early spring. More signs of the lack of economic growth on the SC - its looming small business crisis.


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RE: Gibsons Development - Blue Heron Village - by Skook - 06-21-2014, 11:14 AM

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