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Chinese investors discover sleepy Point Roberts
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Chinese investors discover sleepy Point Roberts
backwater of Point Roberts, Wash., has been overrun by foreigners Canadians.

They come to buy recreational property, buy cheap gas and dairy products, and drink way too much beer at The Breakers and Kiniski Reef Tavern on the Strait of Georgia waterfront.

More recently, as the value of the Canadian dollar dictates, they also come to collect online purchases from shipping and receiving outlets, some so close to the border that individuals can walk across to get their parcels.

Today, a coach outlet sale new wave of foreigners is hitting the scenic shores of Point Roberts, south of Tsawwassen Chinese investors, buying Coach Outlet Online Store up a marina, golf course and waterfront property for housing developments.

Businessman Wayne Knowles, cheap coach purses a Canadian U. S. citizen who lived in Point Roberts for 25 years and has a finger in all the big projects, believes Chinese buyers could be the economic saviour for the 13 square kilometre peninsula.

Businessman Wayne Knowles, an investor in Seabright Farm, a seaside housing development, says a new wave of Chinese investors could finally awaken Point Roberts, Wash., from its long economic slumber.

believe so, thank goodness, he said. money is coming official coach outlet online into Point Roberts, which we desperately need.

seen a whole bunch of activity. Point Roberts will be much different five years from now. the vast majority of property buyers in Point Roberts remain non Chinese (mostly people looking for relatively inexpensive recreational homes), they don represent the big ticket property buyers.

(Chinese) are looking for good opportunities and Point Roberts has just coach factory store online been sitting here, Knowles said. been a diamond in the rough forever. People are finally coming down here Coach Factory Outlet Store and seeing how beautiful it is. are taking a official coach factory outlet online more cautious approach.

Point Roberts has always had economic ups and downs, but little ultimately changes.

Realtor Paul Rusk, another dual citizen, said that when he started in the industry 26 years ago he sold lots for $20,000 apiece and that still the case. It can take two years to buy or sell a property, simply because prices fluctuate little and no one has a sense of urgency.

A sampling of Coach Outlet Store Online recent property sales include: US$164,900 for an 800 square foot home, built in 1955, with beach rights; $649,500 for a 3,420 square foot home, built in 1993, on Marine Channel; and US$1.18 million coach factory outlet online for an architecturally coach outlet store online designed 1,833 square foot home, built in 1995, on a waterfront bluff overlooking the Strait of Georgia.

or view properties have gone up a little, said Rusk. I tell my clients it a lifestyle purchase not a financial purchase. clients are not Chinese investors interested in money making ventures, but those making recreational or lifestyle choices. He laughs at suggestions that people on witness protection programs are relocated to Point Roberts. is the last place. There no jobs, and you know everybody who here. of the more high profile residents of Point Roberts in recent years have included ex Canucks coach John Tortorella and actor Katee Sackhoff, who rented a home during filming coach outlet online of the TV series Battlestar Galactica in Vancouver.

As in Coach.com any community, the interests of business do not necessarily match those of ordinary residents.

Mark Robbins, president of the Point Roberts Taxpayers Association,notes that about 1,300 permanent residents enjoy the peace and tranquillity of the point and can be wary of change.

lot of people are intuitively uneasy with change, he said. cross that border and coach handbags outlet it a giant coach factory outlet online login relief, especially at night time a dark rural community, no sidewalks, no street lights. That what a coach factory website lot of people like. they also recognize the need for more services in the community, where residents are often forced to Coach factory outlet website drive to Tsawwassen to eat out. And few people would complain if development spurred an increase in property values, which have stagnated compared with the soaring values in recent years in Metro Vancouver. Robbins hasn heard locals express any negative sentiments toward the Chinese investors, who are spotty visitors to the community.

As Knowles tells it, the new wave of investment started five years ago when a Chinese click here lawyer friend of his in Vancouver put him in touch with Beijing businessman Gao Zhu, who went on to acquire 51 per cent of Seabright Farm, a relatively pricey strata project being developed by Knowles and another business partner, Anders Kruus of Seattle.

Seabright consists of coach factory online sale 62 building lots on 25 hectares on a bluff with ocean views, swimming pool and fresh vegetables for your dinner.

Knowles said that Zhu is a friend of Beijing billionaire Chen Yihong, chair of China Dongxiang, a sportswear company boasting the popular Kappa brand products in China and Japan.

Yihong visited Zhu and in love with Point Roberts and the two teamed up in May 2015 to buy Point Roberts Marina for $27 million, with Yihong owning a 90 per cent share, Knowles said.

The marina old docks are being upgraded and the number of slips reduced to 600 from 900 to accommodate larger pleasure craft. Long term plans call for housing, a spa, clubhouse, restaurant/nightclub, swimming pool and tennis courts, said Knowles, who is also vice president of development for the marina.

Yihong has also purchased two houses and a 2.5 hectare piece of high bluff waterfront property on Marine Drive worth a total of US$4.6 million, Knowles said.

A Chinese billionaire has purchased two houses and a 2.5 hectare piece of high bluff waterfront property on Marine Drive worth a total of US$4.6 million.

His purchases may have stirred interest in Point Roberts among other Chinese. very ambitious and very well known, Knowles said. he purchased here, others found out about it. he investing, it must be a good deal. July this year, Coco Luo, a Canadian permanent resident living in Richmond for the last three years, but originally from Hunan Province, bought the 18 hole Point Roberts Golf and Country Club for US$4.5 million with two partners, all of them real estate developers from China.

Luo is managing partner, an avid golfer with a 12 handicap, and owns two golf courses in China.

Coco Luo owns two golf courses in China, and has recently bought the Point Roberts golf course.

In an interview with the help of an interpreter, she said work is underway to bring the golf course up to snuff, with a projected reopening date no later than spring 2018 as Bald Eagle Golf Club at Point Roberts.

There are also plans to develop a clubhouse and 60 homes around the golf course, with land clearing beginning this month.

Luo said Yihong is a coach factory outlet friend and that investments by him and other Chinese people in Point coach outlet store online Roberts or less proved a factor in her decision to buy the golf course.
26-06-18 10:22
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