Not Again! Abbotsford Condo Project BRIO Stops Construction
I heard of this first yesterday on CBC radio and now it is out on their website. The Brio condominium project in Abbotsford has stopped construction. They had only sold 20 of the proposed 174 units.
The CBC story says:
Brio buyers appear to have emerged relatively unscathed, even though their dreams of living in a luxury condo may take more time to realize.
All of the presale Brio purchasers got their deposits back with interest, a project spokesperson told CBC News.
However, the spokesperson was unable to say when construction will resume.
In order to speed development at Brio, construction crews were being offered catered food service.
The residential tower was originally scheduled to be complete by April 2009.
Apartments ranging in size from 670 square feet to 2,028 square feet were priced between $279,000 and $1.1 million for the top-floor suites.
$279,000 does seem a bit steep for an Abbotsford condominium...
Matthew Collinge: Vancouver REALTOR® with Royal LePage Westside
