Mariner's Village will continue with Phase II once the market improves.

Mariner’s Village plays the waiting game

Multi-million dollar development will begin second when market conditions improve.

Mariner’s Village, the $300-million dollar development along the shores of Sooke Harbour, may look like it is at a stand-still but it’s not.

The development, is to be built in phases with the first phase complete. Phase one is 49 residential units. Phase two includes the commercial and residential five-story building planned for the edge of Sooke Road. Thirty-six residential units are planned for the upper floors with commercial business space on the lower floors.

When complete, Mariner’s Village will have 110,000 square feet of commercial development, 30,000 square feet of office and 370 condominiums and townhouses. The development sits on five hectares between Sooke Road and the harbour.

Phase two should have started in November but Mike Barrie said that because the market is slower than anticipated, work would likely commence in the spring.

“In the meantime we are lining people up commercially and we’ve had real good success,” said Barrie.

He said waiting for spring will allow pre-sales of the residential units.

“A lot of people who want to buy a home are waiting to sell first,” he said.

Barrie said he has been talking to commercial businesses and hopes to include a pharmacy, medical/wellness centre with two new doctors. He has talked to a few banks, lawyers, mortgage brokers as well as boutiques. The commercial will also include a restaurant/bistro/coffeehouse operation.

“We’re kinda committed as best we can, ideally for Sooke it would be local businesses.”

The marina is an ongoing process and Barrie said they already have a big foreshore lease that they could expand on, but he feels there is not enough demand at this point. He is hoping to create more demand for the marina. The marina currently has 38 slips.

Phase one has 40 of the 49 units sold.

“I can’t complain, we’ve done well to this date… we’re looking forward to better days,” said Barrie.

Full build out of the development should be in 10 to 12 years.