Thread Rating:
Sechelt Development - Seawatch at the Shores
|
05-16-2013, 10:13 AM,
(This post was last modified: 05-16-2013, 10:19 AM by Skook.)
|
|||
|
|||
RE: Sechelt Development - Seawatch at the Shores
Seawatch at the Shores - May 16, 2013 Update
This is a major update for the 'Seawatch at the Shores' - the developer, Concordia Seawatch Ltd., has blinked. I am including a four-page document prepared by Vancouver law firm, Baker & Baker, which represents the District of Sechelt (DOS). That document lays out point-by-point the responsibilities and costs Concordia will assume to proceed with its development and it is staggering. First, here is the Coast Reporter news article announcing the agreement: Quote:Concordia to pay for Sinkhole fix I downloaded that monster DOS Amended Agenda file and the Baker & Baker document begins on page 91. Here is each page in thumbnail form - click the thumbnail to open in a new window: I can't image how Concordia will finance this; no doubt, it is relying on the sell of the Phase 2 lands and those two other lots both which I mention in the post above which as of today are still on the market. However, given the state of RE on the Sunshine Coast will they sell and when? If they do not sell, what happens then? I wouldn't be surprised if Concordia is already preparing its bankruptcy application; so, if I were the DOS, I wouldn't be 'counting the chickens before they're hatched.' The DOS is already in budget difficulties despite the rosy picture Mayor Henderson paints (see this Vancouver Sun May 6, 2013 news article) and if it has to assume responsibility for this site I can see only one option - buy out the current homeowners and mothball the development. Actually, I think that is what should be done now with this site given what I presented in my 'Slip, sliding Away' thread. |
|||
« Next Oldest | Next Newest »
|
Messages In This Thread |
Sechelt Development - Seawatch at the Shores - by Skook - 04-23-2013, 09:19 PM
RE: Sechelt Development - Seawatch at the Shores - by Skook - 05-16-2013, 10:13 AM
RE: Sechelt Development - Seawatch at the Shores - by Skook - 09-10-2013, 09:56 AM
RE: Sechelt Development - Seawatch at the Shores - by Skook - 02-27-2015, 03:56 PM
RE: Sechelt Development - Seawatch at the Shores - by georgie girl - 03-20-2015, 01:08 PM
RE: Sechelt Development - Seawatch at the Shores - by colharpnick - 05-13-2015, 03:40 PM
|
Users browsing this thread: 2 Guest(s)