The half completed Phase 2 Infinity towers near King George SkyTrain station may finally resume construction in May. The towers, which have been sitting idle since October, were put on hold after Jung Developments filed for bankruptcy protection following the collapse on their American financial partner, Lehman Brothers.
In December, it was reported that Concord Pacific, developer of the former Expo lands at False Creek, had entered into a preliminary agreement to take over the project.
“We hope to recommence construction on the project at the earliest possible time, and remove the uncertainty over this project,” said Cliff McCracken, senior VP of Concord.
“It is also our intention to work with the stakeholders and original buyers of this development and help them to complete the purchases of their homes.”
There has been no news since. But according to whispers and leaks from PriceWaterhouseCoopers – the firm handling the whole receivership process – Jung Developments has officially gone bankrupt and Concord will formally take over the project May 15th.
when will the project get stared again by concord and is cambie forming doing the concreat work
when will the project get stared again by concord and is cambie forming doing the concreat work