Win­dow of op­por­tu­ni­ties

B.C. re­sort gets string of good luck

Calgary Herald - Calgary Herald New Condos - - Recreation & Investment Properties -

Van­cou­ver Is­land de­vel­oper Dan Be­hune seems to be one savvy guy — or maybe he’s just lucky. Con­sider, first, that he was able to find for sale a west­fac­ing ocean­front prop­erty on the Saanich Penin­sula with a pub li­cence and com­mer­cial zon­ing in place when he went look­ing to build a new ho­tel back in 2001.

Any one of those el­e­ments is de­sir­able; to find all of them is al­most im­pos­si­ble.

Con­sider, next, that while Be­hune was con­struct­ing what would be­come the award­win­ning Brent­wood Bay Lodge and Spa, the B.C. govern­ment al­lowed pub own­ers to open pri­vate liquor stores.

Bingo! An­other win­dow of op­por­tu­nity, al­beit a short one — about four months — but one Be­hune gladly seized: to open a store in Brent­wood Bay fea­tur­ing lo­cal wines.

Next, pic­ture this: just as his lodge was es­tab­lish­ing its rep­u­ta­tion as a lux­u­ri­ous re­treat, the prop­erty next door be­came avail­able.

Since Be­hune and his two part­ners al­ready had a ma­rina out front, it was the per­fect place to build some con­do­mini­ums and ex­pand their hold­ings.

It was 2008 when they got down to busi­ness. The con­struc­tion mar­ket was still hot, but a re­ces­sion was just around the corner.

If you’re think­ing that Be­hune’s good for­tune might have ended then, think again.

In­stead of push­ing ahead with the project when con­struc­tion costs were at their peak, and then suf­fer­ing the down­turn in the mar­ket, Be­hune backed off and sat tight.

Then, last Septem­ber, when con­struc­tion com­pa­nies were again hun­gry for work, he broke ground.

The view of the ocean from the huge win­dows in a condo un­der con­struc­tion in the OceanVil­las at Brent­wood Bay Re­sort.

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