Sechelt Development - The Watermark at Sechelt

[Skook]

June 21, 2014 Update:

Here we go again, folks. You know that “live/work” Unit #109 that “sold” on May 1st for $239,900? Well, it’s now “unsold” and was put back on the market June 16th with a price increase; yep, it’s now been deemed worthy of another $10,000 tacked on and is listed at $249,900…ROFLOL. This just gets better and better, doesn’t it?

There is another condo flip to mention. Unit #302, 5665 Teredo (Phase 1) went up for sale June 15th. It was purchased back in October, 2011 for $391,500 and is now listed for $429,900 (+22%) - the same as the developer’s list price for a similar unit. If the owner manages to sell for that list, then my thought is that this has been one very poor real estate investment if that is in fact what it was.

Unit #407, 5725 Teredo has been listed for rent on the Holywell site for over the last month. I see the rent has been dropped by $1000/mth from $1650/mth to $1550/mth.

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I just happened to notice the other day that new images for the Watermark commercial units have been added to the commercial listings. So, finally, we have a peek at the commercial set-up and inside this building. Unfortunately, the quality of these images leaves much to be desired.

In the middle image below, we can see the inside parking arrangement. Watermark parking is only semi-buried and you can see how that is reflected in the waterfront landscaping. So, the Bistro is actually a projection off of the parkcade. Has the Bistro opened for business? Does it look busy?

The picture on the right shows the only entrance to the parkcade (on far left) which is off of Inlet Ave under 5665 Teredo.

I have now been able to put together a composite image of all the commercial units fronting Teredo St. As a result, we can see that there is actually a unit (#101) on Inlet Ave and Unit #102 occupies the corner of Inlet/Teredo. There is a bit of mystery between Unit 103 and 104 as there appears to be another unit with its own entrance; perhaps, the execution of the plans changed but not the plans?

So, we can assume that the newly listed Unit #109 is just beyond Unit #108 and that there does exist a Unit #110.