Mariner’s Village goes into receivership

Condor Properties Ltd., announced Dec. 2 it is going into receivership with debt in excess of $20 million

Every community, big or small, has its big dream, whether it’s a commercial centre, a recreational hub, a new means of transport, or a big school.

Sooke’s dream was Mariner’s Village, a multi-million-dollar mixed-use waterfront development with townhouses, condos, office buildings, even a new library, making it the town’s biggest construction project to date.

That dream faded however, following delays and stagnating in its first stage of construction, its developer, Condor Properties Ltd., announced Dec. 2 it is going into receivership, with debt in excess of $20 million.

Bowra Group, a Vancouver-based company specializing in debt reduction, bankruptcy and financial advice was appointed by the B.C. Supreme Court to handle the receivership.

“They [Mariner’s Village] were struggling for some time, and without money to spend on marketing, they couldn’t really get the word out,” said Chris Bowra, BG’s vice-president, adding the company had been trying to get re-financing for some time.

Bowra will also look at the vacant land that sits there, including the marina, all of which are subject to the receivership. The marina has a lease with the province however, meaning it would be able to sell the company’s interests in that lease agreement.

This is to re-market the units which includes fixing them up, and making them “as marketable as possible,” according Bowra.

In total, there are 25 units, eight townhouse units and 17 condominium units, 13 of which are rentals.

All 13 renters now face eviction from the property by the end of February. The only option to stay is to buy the property, but many of the renters don’t have any other choice but to leave.

Gerald and Lois Meyer, an elderly couple from Medicine Hat, moved into Mariner’s Village a year and a half ago, feeling giddy of their new home.

Now they face an impasse, as they don’t want to leave town, but can’t find another fitting place either.

“It’s difficult, because there’s nothing in Sooke that would suit us. I’m 79, my wife’s 77 … if we’re living in an apartment building, we’ll need an elevator,” Meyer said.

The Meyers pay $1,350 per month on rent for their two-bedroom, two-bathroom suite.

Despite the unfortunate outcome, Meyer feels not much can be done for themselves and the other renters, other than pick up and go.

 

Michael Barrie, CEO of Condor, Mariner’s Village’s developer, was not available for comment.

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Wildlife advocate Gary Schroyen captured this picture of a one-year-old cougar in the Sooke Hills using a homemade trip camera. Vancouver Island is home to approximately 800 cougars, which makes up about a quarter of the total population in B.C. (Gary Schroyen photo)
Wildlife advocate Gary Schroyen captured this picture of a one-year-old cougar in the Sooke Hill using a homemade trip camera. Schroyen presents Animal Signs: The Essence of Animal Communication on Nov. 30. (Gary Schroyen photo)
Declining Vancouver Island cougar populations linked to wolves

Large carnivore specialist says human development still plays biggest role on cougar numbers

The West Shore Community Response Network (CRN) is urging awareness around National Fraud Prevention Month, so residents can especially help protect older and vulnerable adults against fraud. (Photo by Joshua Hoehne/Upsplash)
March dialed in as National Fraud Prevention Month

West Shore Community Response Network urges citizens to protect seniors against phone, email scams

Students from SD62 stepped up to help members in the community with the annual 10,000 Tonight food drive. This year’s organizers had to adapt during the campaign as COIVD-19 public health orders changed. (Black Press Media file photo)
West Shore students step up to make sure community members don’t go without

Students of SD62 are this year’s recipient of the Youth Volunteer Award

A cat died in this house fire in Sidney afternoon. The fire started on the house’s deck and spread from that point. Sidney Volunteer Fire Department Chief Brett Mikkelsen said the permanent presence of crews at the Community Safety Building prevented worse damage. (Photo courtesy of Clayton Firth)
Sidney house fire kills cat, causes extensive damage

Official says fire started on deck and damage to the house could have been worse

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. The federal state of Rhineland-Palatinate, start with the vaccination of police officers in internal police vaccination centers. (Andreas Arnold/dpa via AP)
B.C. officials to unveil new details of COVID vaccination plan Monday

Seniors and health-care workers who haven’t gotten their shot are next on the list

A boat caught fire in Ladysmith Harbour on Saturday morning. (Photo submitted)
Search underway for missing woman after boat catches fire in Ladysmith harbour

A large boat caught fire on the morning of Saturday, Feb. 27

Lone orca from a pod that made its way north from Georgia Strait and into Discovery Passage on Saturday, Feb. 27, 2021. Photo by Ella Smiley/<a href="https://www.facebook.com/Comoxvalleywildlifesightings/?ref=page_internal" target="_blank">Comox Valley Wildlife Sightings </a>
Island wildlife viewers thrilled by close view of passing Orca pod

Group gives wildlife photographers a classic opportunity to view them off Campbell River shoreline

An investigation is underway after a man was shot and killed by Tofino RCMP in Opitsaht. (Black Press Media file photo)
Man shot and killed by RCMP near Tofino, police watchdog investigating

Investigation underway by Independent Investigations Office of British Columbia.

B.C. Supreme Court in Vancouver on Tuesday December 11, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C.’s compromise on in-person worship at three churches called ‘absolutely unacceptable’

Would allow outdoor services of 25 or less by Langley, Abbotsford and Chilliwack churches

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Most Read