Second condo building ready on Semiahmoo waterfront



Sales manager Matt Rollins shows customer Linda Madsen of Kodiak, Alaska, the new Marin condominiums on Semiahmoo Spit in Blaine, Tuesday, May 14, 2013. The grand opening for 18 new units is Saturday.


BLAINE - After nearly falling victim to the real estate bubble bust, a residential waterfront project is ready for buyers.

On Saturday, May 18, officials at the Marin condominiums will host a grand opening sale for residential units in Building B, which was recently completed.

The 18-unit building was only about half finished when the property was foreclosed on by Seattle Bank about three years ago. In June 2012, Florida-based Patten Real Estate bought the property, which included a nearly finished Building A, for $7 million. Building A was finished last August.

The company has spent about eight months finishing Building B, adding a variety of amenities, including radiant-heated floors and large windows for the unobstructed beachfront views. It is situated near the now-closed Semiahmoo hotel and looks out over Semiahmoo Bay.

Sales of units have been steady, even after the announced closure of the hotel last fall, said Joseph O'Brien, managing partner of the company's western division. The company already has signed agreements for two units in Building B; units in that building start in the low $500,000 range.

The owners potentially could put a third building on the property, but that decision hasn't been made yet, according to O'Brien.

Whatcom County condominium sales have bounced back in the first part of 2013. Through the first four months of this year, real estate agents have sold 96 condos locally, according to the Northwest Multiple Listing Service. That's up 39.1 percent compared to the same period in 2012.

O'Brien said owners were initially concerned when they heard about the hotel closure, but he said buyers have been drawn to the uniqueness of the property, particularly the proximity to the water without railroad tracks nearby. They've noticed an uptick in interest for higher-end property across the U.S.

O'Brien doesn't expect Semiahmoo to remain vacant.

"It's too valuable a piece of property to remain empty," he said.

Of the sales at Marin to date, he estimates 80 percent are to U.S. citizens, with the other 20 percent to Canadians. Typically, the buyers are people who want a second home or a retirement residence.

The open house runs from 10 a.m. to 5 p.m. May 18. Details can be found at or by calling 888-996-2746.

Reach DAVE GALLAGHER at or call 715-2269.

Bellingham Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service