Business

Newport breaks ground in White Rock

Future residents were among those who joined representatives of LLW Holdings Ltd. to celebrate the groundbreaking of the Newport development Tuesday in White Rock.  - Tracy Holmes
Future residents were among those who joined representatives of LLW Holdings Ltd. to celebrate the groundbreaking of the Newport development Tuesday in White Rock.
— image credit: Tracy Holmes

A handful of future residents and hopeful investors joined City of White Rock officials and representatives of LLW Holdings Ltd. last week to celebrate the groundbreaking of the Newport at West Beach development.

The balloon- and flower-laden moment was possible due to sales in the waterfront project surpassing the 55 per cent mark, Steve Andersen, principal partner of Lofthouse/Andersen Marketing, told the crowd.

The project, to be built on 1.14 acres at the high-profile corner of Marine Drive and Oxford Street – on the former White Rock Muffler site, plus two neighbouring Buena Vista Avenue lots – is set for occupancy in 2016.

First proposed in 2011 – and the subject of much concern for area residents in the months that followed – it received the go-ahead from White Rock council in March 2013.

At last week's groundbreaking, Mayor Wayne Baldwin described the project as "a prime example" of what is wanted for White Rock.

Baldwin commended the developer for modifying the design in an effort to address neighbours' concerns, which included height and view impacts.

"I'm very impressed with what I've seen," he said.

The project is mixed-use residential/commercial. Andersen told Peace Arch News that the centrepiece – at the corner of Marine and Oxford, with a rooftop patio – sold for $1,000 per square foot (nearly $2 million).

"And we could've sold it three times over," he said.

North Vancouver residents Sean and Kelly Erdman said they bought into the Newport as an investment property. But looking over the model at last week's groundbreaking Sean Erdman said it's possible they could decide to keep it for themselves.

"Maybe," he said, with a grin.

 

 

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