Posted Apr 3, 2021, 5:23 PM
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Burger Connoisseur
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Join Date: Feb 2013
Location: Hamilton
Posts: 581
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Looks like the building is being completely repriced for the current market.
Quote:
Ward 2 councillor Jason Farr says he thinks the building may be repriced
The controversial twin-tower Television City plan is in "reset mode," according to downtown councillor Jason Farr.
Farr said he posed questions to the city's planning staff recently after hearing people who bought a spot in the two 32-storey towers at the CHCH-TV property in Durand were getting refunds.
"What they shared with my office [on Monday] was Television City has recently told them they're not planning on cancelling the project. But they told our staff they're in a reset mode," Farr said in a phone interview on Tuesday.
He said it doesn't happen often, but that generally means developers can readjust their prices based on their proforma and the market.
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https://www.cbc.ca/news/canada/hamil...eset-1.5971232
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