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Sechelt Development - The Wharf Place
08-25-2015, 06:04 AM, (This post was last modified: 08-25-2015, 09:46 AM by Skook.)
RE: Sechelt Development - The Wharf Place

Cheers. As always seems to be the case, a very comprehensive reply - and lightning fast!

I have visited Gary's site and BC assessment and looked on the surface at what they provide. Will dig deeper. At first glance, assessed values are falling it appears, at least over last year.

I am very much interested in having a small piece of the SC, but not sure if this is it or not. I am still years away from being able to use it in regular fashion so I wonder if buying a unit like that has rental potential? And I weigh that against maybe finding a lot, and taking time to put something on it so it is there to use when I am ready.

In any event your site is gold and I will continue to refer and add my thoughts as we go.

Again cheers for the quick reply.
12-18-2015, 10:17 PM, (This post was last modified: 12-18-2015, 10:21 PM by Skook.)
RE: Sechelt Development - The Wharf Place
December 18, 2015 Update

My last big Wharf Place update was on April 11th and I said it would be my last; well, I was wrong - this will be the last big update. It has been quite a slog for the developer but CSA Kobas Developments is poised to kiss this baby goodbye. There are two units left to sell (#209, #212) and in September they were given fresh listing numbers without a price drop that’s how confident the developer is feeling these days.

Sales finally took off in 2014 with 9 sales and unless one or both of those units above move 2015 will end with 8 sales. Not too shabby when compared to 2011 to 2013. There is only one unit I’m not sure about and that is #208. Its listing disappeared in late 2014, but I’ve not stumbled across any sales data – so, it remains a question mark.

The commercial units are sold out. Today I sat down and googled each unit number with the street address to see what businesses have moved in and I could only get results for two units. There are two businesses sharing #102: The second tenanted unit is #101 occupied by Seashore Organic Medicine and you might really enjoy flipping through its website pages – I did. It has a fascinating cast of characters making up its ‘Team’ - there’s no pic for the Dr. Walker but no problem I found him here (scroll down). Wow, everyone’s getting into pot these days – I wonder if they’ve hired any local coastal consultants. This Coast Reporter August 2014 piece offers background info: ‘Pot producers eye Sechelt to start up’. For public input, there’s this April 2015 CR piece: ’Cool reception to medical pot bylaw’. If you want to check out the company’s stock, here’s one site and this other site has graphs...LOL. You gotta love penny stocks. For up-to-date info, there’s SOM’s page on Bloomberg Business.

I have digressed have I not? As for commercial units #103, #104, #105, no associated business came up in the google search. I’ve not come across any recent ‘For lease’ ads for the units, so I’ve no idea if they are occupied or not.

Condo Rentals

I mentioned two Craigslist rental ads in that last April update. I had fun with one as it was apparent the owner was pretty green. The furnished unit was first listed at $1660/mth; soon dropped to $1425; fell further to $1225; and, finally ended up with a sliding scale depending on length of lease: 3 months, six months, or 1 year.

That unit was back up on Craigslist November 6th.


Yep, I recognized those maracas immediately and that giraffe print toss pillow. I noticed the rent was more down-to-earth and so was the write-up:

Quote:Fully furnished one-bedroom condominium in Sechelt. New exclusive complex, nicely located near town centre, a close walk to everything. Featuring high quality furnishings and decor, everything new and outfitted for comfort. Spacious, airy high ceilings, cozy gas fireplace, view to the ocean. Ready to move in and veg out in your reclining chair in front of the fireplace. Parking included. $1300/month. Short or long term. (minimum one month.)

No more “pied à terre” for this condo. No lease and no sliding rent scale, either. Just set your term and dish over 13-hundred bucks a month and done deal for living quarters in this “exclusive complex”. Yep, a complex so exclusive it has one of these...a $105/night motel room with a minimum 2-night stay.

[Image: attachment.php?aid=1249]

But, all's okay because Tammy has asked her motel guests to keep a lid on it:

Quote:Please be respectful of other Apartment owners by being quiet and thoughtful. Thank You.

So, everything should be fine even though Tammy will not be in the immediate vicinity unless she owns another unit in the building. If not, I wonder where she hangs; maybe with Alessandro from Soames Place.

This is a 1-bedroom, 1-bathroom motel room that according to one reviewer is in the back, “The unit faces away from the street and is located in a quiet building.” There are only two possibilities for this layout: #202 or #302. I’m going to go with #302 based on what I see out of the windows in the pics.

So, here is The Wharf Place updated spreadsheet – nicely colour-coded for your viewing enjoyment. In the 'Notes' section on the right, the price drops are in bold black type. The negative number in red is the percentage difference between the unit sale price and its original list price.

(click on image)

To Save/Print the Spreadsheet:
The best procedure is to save it to your hard drive first. So, click on the image and after it opens in a new tab, right click and click ‘Save image as...’ (exact wording depends on your browser). With Windows OS, you will save it in your Pictures Library. After saving the image, find it and click on it and it should open in the ‘Windows Photo Viewer.” Click on ‘Print’ in menu bar and then click ‘Print’ again and the print dialog box will open. You want ‘Full Page Photo’ and most importantly at the bottom you want to remove the checkmark for ‘Fit picture to frame’ (click in box to remove checkmark). Set the other options to your own preferences; however, ‘Letter’ size paper works best unless you can choose something larger like ‘Legal.’

Attached Files Thumbnail(s)

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