Experience that matters

Westcor Joint Venture

Westcor has several developments ready for construction and are looking to include a limited number of Joint Venture Investment partners for a select few of these developments. In an effort to limit risk for our Joint Venture Investors, it is our policy to work on a priority repayment basis with our Joint Venture Investors: this means all investment money is repaid prior to profits, on a preferred equity basis. Westcor does not require additional investment prior to building out any development currently owned, but Joint Venture investment on current developments allows us to increase our capacity for designing and building more homes for more families and in more communities in Canada.

The opportunities offered are profitable developments in some of the finest areas of B.C. Continuing with the Westcor commitment to excellence in delivered product, as a joint venture purchaser in our development, you will be part of the solution for housing in Canada. The projected returns are good; better than most offers of this type. The reason for this is that Westcor purchases, plans and entitles our development lands ourselves, sharing these close-to-ready developments with Joint Venture Investors at a time when ready-to-develop lands are in short supply. We are ready to have a conversation with qualified investors if one of these developments offered catches your interest.


Built out, this project will have 83 quality homes with one commercial unit attached. Westcor has the option of building this development under the CMHC MLI Select insurance financing program with interest calculation off the Ten-Year Bond Yield, not prime rate. Amortization is 50 years for product meeting the energy requirements, which ours will. However, the condominium market remains underserviced and strong for individual condominium sellout. Financing for this project as a market-build requires more equity and ultimately costs more, but the projected rewards are significant and worth selling this development out to the market on completion.

  • Rental through CMHC insured funding would see the return of the Joint Venture Equity when stabilized;
  • Return through market sellout would see profits in excess of $10,000,000.00 CDN.

Westcor has a joint venture available in this project for $3,000,000.00 CDN. in Preferred Equity for a 35% interest. This is a direct Joint Venture in the company owning the development. Westcor will take investments in the amount of $500,000 for a portion of this Joint Venture, but prefers the Joint Venture be one entity for ease of development. Structuring this can be done to accommodate an individual investor in order to meet the JV investor’s requirements. Return for this investment is a true Joint Venture, guaranteed by the development solely. Westcor expects, but does not guarantee, a return of 2 to 1 for every dollar invested. If the joint venture decides to rent this project long term, the return should far exceed the market sell out return over at least the next 10 years.

As with each Westcor Joint Venture, a full Joint Venture Agreement will govern this Investment in full  detail. The framework description here does not form part of the final joint venture agreement and only guides the joint venture sale of part of this development. Full development details and full disclosure of duties of the joint venture are laid out in the formal agreement.

Sechelt Townhomes

A Joint Venture Opportunity in a 34 townhome development in Sechelt BC.

Sechelt has restricted housing market and is in immediate need of housing. Westcor has taken the last four years to rezone and bring this one hectare of prime, West Sechelt Land – situated three blocks from the Ocean – to a construction-ready development. This project is close to shovel-ready now, with deep services already completed on site. We have committed to the last council which voted to zone this development, to bring these townhomes to market sale. Although there are no restrictions on rental, Our plan is to sell these homes individually.

Designed as two bed room plus den and three bed room units, out team has allowed for 9 of these  units to have walkout basement, lock-off rental units, or just more space.  We also purposely designed no garages/open parking in order to meet the desired price point for these homes.

Westcor is offering a 35% interest in this development for a joint venture investment directly into the property, of $2,500,000.00 CDN which will be treated as Preferred Equity along with all equity invested. Preferred means repaid prior to profits. Joint Venture investment can be converted to townhome ownership after cost to complete debt is repaid. For tax calculation, this is a true joint venture offering, not a partnership. This allows distribution of profit directly flow through to each joint venture company with no tax paid jointly. Some of this investment will repay some of Westcor’s investment in this development. Westcor will be preselling this development in phases. The projected profit for this development exceeds $5,000,000.00 CDN. Pre-selling in phases lowers the financial risk in this project. Joint Venture partners can expect repayment of all investment within 30 months as the preferred equity will be replaced with debt after the second phase is complete.


This development, partially completed and phased into three buildings (A, B and C), is currently apprised $4,300,000.00 CDN. Westcor is seeking Joint Venture investor for this project, specifically to complete the Building C portion alone (The future lands for Building B and Building A will remain at Westcor’s discretion). A Joint Venture investment of $2,000,000.00 CDN will be repaid as Preferred Equity after the project costs are repaid. An opportunity for the Joint Venture investors to convert their investment into condominium ownership once the primary debt is repaid is available.

This site is C3 zoned, allowing for short term rentals when owners are not using the suites – Westcor will operate the rental pool. The return for Joint Venture Investment is 50% of profits derived from the sellout of Building C only.

Joint Venture investment will be returned on a proprietary basis – after costs of construction and building are paid – then the Joint Venture investors will split the net profits. Westcor has calculated the separation between the phased Buildings as well as the projections for return. Direct investment in the ownership company with a Joint Venture agreement stating the limits of the investment will be in place. This joint venture should return the investment within 24 months. A true joint venture, the profits and return are guaranteed solely on the project performance. This keeps the investment as a joint venture with each party directly responsible for taxes with no joint taxation. Westcor will take direct investment in this development at minimum of $500,000.00 CDN per investor.


This 8-acre site is zoned for 119 townhomes. Westcor has a designed plan for 326 homes to up-zone this serviced, dual road accessed site. Under the Fire Interface rules, only sites with two clear legal accesses can be developed to this sort of density. The property is close to downtown on the north side of Cranbrook. About five blocks from the regional hospital. The Cranbrook housing market has successfully absorbed all new rental homes built and more are needed. The Planner would like to see some of these homes being developed as condominiums for market sale as there is no market sale condominiums being built or planned in Cranbrook currently. This is a multi-family zoned and serviced site in a supportive community that needs housing. Westcor plans on building the development out in phases once rezoning is completed. The opportunity is to join Westcor for a 35% preferred equity joint venture in the lands through the ownership company and the development. A true joint venture, the goal will be to take back all investment after the first phase is complete. Profits will be distributed as available over the course of the development. Westcor will sell 35% in this development for $2,500,000.00 CDN and the funds will be preferred repayment over profits, after cost to develop is repaid.

Cranbrook has a real need for housing and this west facing, sloping land is ideal for Westcor’s proposal. Westcor has written support from Cranbrook to up densify this land and Westcor controls all the single-family lands to the south to loop services. A full joint venture agreement will be entered into for the purchase of 35% of this development.

Mills Road, Sechelt, 8 Raw Lots.

Westcor has recently subdivided this zoned site for 5 single family lots. Sechelt has offerws to up-zone the site for 8 small lots which Westcor intends to do. The joint venture of this development is small with good returns. Equity when building single family homes is required at higher percentage which leads us to offer a $1,000,000.00 CDN JV investment in this property. The offer is preferred equity which includes equity in the development of 35%. This means repayment of the $1,000,000 is after the cost to complete but before profit distribution. This investment is shorter in nature that these are easy builds for single family. Still our projected profits are $1,400,000 or $490,000 return in about 18 months total time frame. Very low financing required for the JV partners and direct distributed taxation with no pooled taxation as true joint venture. This development is lower priced homes in very restricted market that is completely underhoused. Westcor is actively servicing and building in this marketplace now and will build out this development.

West Sechelt Designated Multi Family Site – 6005 Shoal Way

This is an early development site where Westcor will be taking this designated site through rezoning. Currently the OCP is designating the site for about 70 townhomes. Westcor will be asking for 240 to 300 condominiums on this five-acre site. Sechelt is completely out of housing and new homes are being taken up by people moving to this seaside town. The property has water views and is on the 18-hole golf course, three minutes to downtown. The opportunity is to join Westcor on the rezoning and development of this property. This will be a two stage buy-in for 35% joint venture. Stage one is $2,000,000.00 CDN and stage two – when zoning is in place – $1,000,000.00 CDN. Stage two is if needed only. By purchasing this joint venture now, the rise in value will be shared from the entitlement process. Westcor has entitled many properties and some in Sechelt, so is uniquely positioned to carry this property through to development. From Westcor’s calculations, this property has a multiplication factor for investors now. Minimum investment is $500,000 and preferred is one group taking all 35% interest in this true joint venture.