Saturday, February 23, 2008

interregnum



Just a cheap quickie of note.

The Eden Group, who canceled The Elyse project a few months ago, has now canceled Sophia at Sophia and 11th. link

The reasons were cited as financing problems, and labour problems. The project was 85% completed. Tough tanks if you bought a presale there.

The Eden Group is headed by a guy named Eden. Has he never heard of numbered companies?

li'l solipsist is having his first birthday tomorrow, so I am not sure if I will get up my smoking photoshops and post, but it will be worth checking back for.

Have a grand week-end!

9 comments:

patriotz said...

The place looks almost finished in a CBC news photo from last November. The amount of money required to complete it is clearly far less than what the units can sell for. We're not talking about the foundation stage here.

So the big question is: is this a real financing problem, or just a shell game to shut the pre-sale buyers out and let some silent partner sell the units for a higher price?

M- said...

Sophia cancelled? It's almost done! It's been looking almost done for a while... Have you got a link? I've got friends who live across the street from that building, I'm sure they'd be interested or curious...

M- said...

Nevermind, found it on CBC news: http://tinyurl.com/2eebka

solipsist said...

I think that patriotz is on the right track vis-a-vis the shell game.

Anonymous said...

Hey Sol,

Just noticed that the CBC page that's running the story has you on the right hand side of the page in the "Blog Watch" section :)

solipsist said...

Just noticed that the CBC page that's running the story has you on the right hand side of the page in the "Blog Watch" section :)

That is down-right freaky. I have not seen that, but I must before they realize their mistake.

Those danged key-word bots, y'know.

jesse said...

Sounds like the lawyers have learned some new tricks since that PoCo development went belly-up last year. Caveat emptor.

Eden is likely going to shut down. Reputation officially ruined.

sop, get used to these stories. There are many more to come!

Lisa said...

It's not the keywords, it's the link -- like a trackback.

(Any blog that links to a CBC article will show up there).

A lot of the blog posts are actually just a bunch of headlines, with no comments.

But some, like yours, have something to say :)

Cheers,
Lisa Johnson
CBC News Vancouver

Anonymous said...

If they go into receivership there won't be a shell game. They'll be sold (whether completed first or not) on the open market.
-Rob