On Jun 13, 2006 under Condominium Homes

Vancouver, BC, Canada – Concert Properties is pleased to announce the purchase of what was formerly known as Cecilia Cove at 365 Waterfront in the award-winning Selkirk Waterfront Community from Jawl Holdings Limited.

“As a developer of master-planned communities we are excited that Jawl Holdings has selected Concert as the purchaser and developer of 365 Waterfront,” said David Podmore, President & CEO, Concert Properties Ltd. “We have the utmost respect for Jawl Holdings and we welcome the opportunity to work with its team adding Concert’s residential expertise to this truly unique waterfront community in Victoria.”

Building vibrant communities where neighbours greet each other is a Concert hallmark and Concert believes the right location can make a difference to the residents’ sense of community

Located in downtown Victoria, British Columbia, next to the beautiful waters of the Upper Harbour, Selkirk Waterfront Community offers the best of all worlds. 365 Waterfront fronts onto the Gorge Waterway and runs parallel to the Galloping Goose Trail, giving the development water views, a sense of privacy and connectivity to downtown Victoria.

Jawl Holdings has carefully and thoughtfully designed the award-winning Selkirk Waterfront Community to ensure that each new development takes full advantage of the many benefits of the community and complements the overall Selkirk Development Plan.

Robert Jawl, President, Jawl Holdings Limited, is also pleased with the sale saying, “We have sold the site along with the development plans to Concert Properties, one of British Columbia’s largest and most respected real estate development companies. In selecting Concert as developer for 365 Waterfront, we are confident Concert will do an outstanding job and true to their reputation here in Victoria and elsewhere, will create quality homes on time and on budget further enhancing Selkirk Waterfront.”

The proposed development would be comprised of approximately 109,000 square feet in a stepped concrete lowrise form with suites ranging from one bedroom and den to three bedroom and den, many with water and city views. The project is anticipated to be ready for occupancy in late fall 2008.

By acquiring this site, 365 Waterfront will become Concert’s fifth development in the Victoria area. Concert currently has three other condominium projects in downtown Victoria. Astoria recently completed, Belvedere is nearing completion and Burdett is in the final planning stages.

At 20 storeys, Astoria is Concert’s first residential building in Victoria and was completed on time and on budget earlier this year. Also completing on schedule is Belvedere, a 16-storey, 77-suite tower, which is sold out and will be ready for occupancy in the fall of 2006.

Not far away and located at the intersection of Burdett and Vancouver is Concert’s third residential development, a six-storey midrise concrete building with 66 residential suites.

Concert was also responsible for the development of the Victoria Marriott Inner Harbour Hotel, which along with Astoria and Belvedere, forms part of Concert’s three-phased development of the old Y-lot at Humboldt Street.

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