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Old Posted Jul 19, 2018, 12:08 AM
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Urbannizer Urbannizer is offline
Join Date: Jan 2009
Location: SXSW
Posts: 8,700

*May 31st, 2018

The developer of Winnipeg’s beleaguered SkyCity Centre has announced it will be sending out refunds to buyers who put down deposits of 10 per cent on condo units, admitting it isn’t feasible to move forward with construction.

The news comes two days after a class-action lawsuit was filed against Fortress Real Developments, the company behind the project at Smith Street and Graham Avenue, in Manitoba’s Court of Queen’s Bench.

The proposed development was marketed as a "beacon of change" for the city when it was first announced in 2013. Had things gone forward as planned, the $200-million, 45-storey tower would have become Winnipeg’s tallest at the time.

Developers said the mixed-use development, called a "vertical village," would set the standard in "luxury living and urban lifestyle." However, it has been plagued by problems from the start, with construction consistently delayed.