Bellingham — After diving headlong into the Vancouver, B.C. and Seattle real estate markets, Chinese investors are taking a healthy interest in Point Roberts, a distant slice of Whatcom County that is as much a (summer) home to Canadians as it is to Americans.
In the past 5 years, Chinese investors have bought the Point’s marina and a golf course and plans are in the works for an upscale 62-site community, according to The Vancouver Sun.
“They (Chinese) are looking for good opportunities and Point Roberts has just been sitting here,” said Wayne Knowles, a developer who’s lived in Point Roberts for 25 years and has a hand in some of the projects. “It’s been a diamond in the rough forever. People are finally coming down here and seeing how beautiful it is.”
Among the recent purchases:
- Coco Luo, who lives in Richmond, B.C. and owns two golf courses in China, bought the dormant Point Roberts Golf and Country Club in July for $4.45 million and plans to upgrade the course and build a new clubhouse, according to the Delta (B.C.) Optimist. It will be rebranded as Bald Eagle Valley Resort.
- Beijing businessman GaoZhu and Chinese billionaire Chen Yihong bought Point Roberts Marina in 2015 for $27 million and are upgrading the docks, with plans to add a clubhouse, restaurant and housing.
- Zhu bought a controlling interest in Seabright Farm, a 60-acre site on a bluff overlooking the Gulf of Georgia, in 2012. It’s being developed by Knowles and business partner Anders Kruus of Seattle.
An American developer also hopes to get a long-delayed project built in Point Roberts. Steve O’Neill has submitted plans to build the 32-room Blackfish Resort in an existing cannery building on Marine Drive, according to All Point Bulletin, Point Roberts’ community newspaper.