Pacific Spirit Properties plans to start building their six-storey, 107-unit development on Sechelt's waterfront this July, once 30 units are purchased through a pre-sales campaign starting in April.
The new development has been dubbed Watermark, and developer Ian Porter said the pre-sale suites will be offered at a reduced rate to residents of the Sunshine Coast. He expects the savings on the pre-sale suites to be up to $45,000.
Porter is pleased to see the project move ahead after about a year and a half of working with the District of Sechelt and the community to come up with the present plan.
"We're very happy and very relieved to finally be able to start moving forward with it," Porter said.
Watermark will sit at the corner of Inlet Avenue and Teredo Street. The development will be split into two buildings of five and six storeys that are stepped back from the waterfront and separated by a large green space. That green space will include a public plaza and viewing ponds with 40 per cent of the site deemed as public space. The development also calls for 580 sq. metres of commercial space and a waterfront café/bistro.
Pacific Spirit Properties hopes the design of Watermark will be appealing to a variety of buyers.
"We have crafted this development to appeal to a broad range of people," Porter said. "We envision the lock-and-leave convenience, the adaptability features built into each suite and proximity to Sechelt's hospital will appeal to empty nesters. Similarly, the leading edge design, quality of construction and finishes and the proximity to shopping and recreation will hold strong appeal for young families."
The District of Sechelt will benefit from an amenity contribution clause that will see $123,000 come to the District to pay for the increased density approved for the site.
Pacific Spirit Properties will also pay for sidewalk and intersection upgrades to Teredo Street and Inlet Avenue, install a dry sewer pipe along Inlet, move the utility wires underground on Inlet from the boulevard to the north side of Teredo, improve the sidewalk from Inlet to the corner of Cowrie Street and Wharf Road, improve the boulevard and seawall, install a separated bike path on the boulevard and create a bus bay for transit buses.
In addition, a housing agreement signed by Pacific Spirit Properties will see two affordable housing units built in the complex. Those units will be the responsibility of the District; however, some councillors noted they were uncomfortable managing those suites at the March 16 council meeting where final approval was given.
"I know the concerns, but I'm supporting this because we've come this far and we've done a lot of work on the project," said Sechelt Mayor Darren Inkster. "We've got a good agreement in place for housing. I'm going to support it. In the future we could change how we manage those particular units, but that's up to council in the future."
