Gibsons development company faces foreclosure

Waterfront site of controversial proposed condo project Seaglass goes back up for sale

The site of a development proposal that raised eyebrows in Gibsons for a design that was inspired as much by Venice as Vancouver is back on the market after foreclosure proceedings against the company behind the project.

Seaglass, a condominium project planned by Salish Sea Environmental Enterprises for properties at 458 and 462 Marine Drive in Gibsons Landing, was to have been a six-storey waterfront building with several unique green building features.

article continues below

It got as far as first reading by Gibsons council in 2015, but the approval process stalled over negotiations around changes to the foreshore to accommodate one of those unique features – a canal that would also act as a storm water channel.

Altering the foreshore would have required approval from both the Town and the province.

The developer was also expected to meet other conditions before the project could move to the next stage, and by the end of 2017 the Town’s planning department had listed the development application as “inactive.”

The first foreclosure proceedings against Salish Sea Environmental Enterprises were launched in early 2018. In all, four lenders went to BC Supreme Court claiming the company and its principals defaulted on mortgages taken out against four properties in Gibsons, including the ones where Seaglass was to be built, and one in West Vancouver.

The total amount the lenders claim was left outstanding topped $5 million.

A foreclosure order was issued by the courts last October for one property, followed by an order against two others in November, and one against the final two on Feb. 21 of this year.

On March 18, Kerr Wood Leidal, the engineering consulting firm used by Salish Sea Environmental Enterprises, filed a suit seeking to recover $52,000 it claims is still owning for services provided after placing a builders lien on one of the properties in 2018. That case is yet to go before a judge.

Read Related Topics

© Vancouver Courier
Click here to take part in our readers survey

Read more from the Coast Reporter

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Vancouver Courier welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Popular Real Estate

Popular Vancouver Courier