The largest construction project in Sooke is now in receivership.
Mariner’s Village came with high hopes; to transform Sooke and its waterfront.
Now the project’s future is unclear.
“Really, the biggest selling feature is these gorgeous views.”
In this video from 2011, developer Mike Barrie shows off a condo still under construction in Phase One of the three stage project.
He’s the second Barrie to enter high level development on the south island.
His brother, Len Barrie, spearheaded the Bear Mountain development.
It fell into bankruptcy, taken over by the bank, resulting in losses of more than 100-million dollars to investors and creditors.
Gerald and Lois Meyer love their condo, moving here just 18 months ago from Medicine Hat.
“When we moved here a year ago, I said this is our forever home.
I don’t want to move again.
All I wanted was water and trees.”
But Mariner’s Village development is now in debt to the tune of more than 20-million dollars.
As a result, a court-ordered receiver issued eviction notices to the Meyers and other renters as it attempts to restructure financing and sell all 27-unsold units .
Chris Bowra of The Bowra Group says a number of the units need to be repaired before they can be sold.
“In order to clean up the units and market them and realize as much as we can on them.
It’s best to have the units vacated and in the most presentable state possible.”
That leaves Meyers scrambling to find something over Christmas, and something affordable.
“It’s a bit tough.
We’ll be OK.
We’ll find something and settle into it.
“That move from Medicine Hat a year and a half ago was really hard on us.
I said I never want to see another moving box again.
Here we go again, right?”
Mike Barrie was not available for an interview.