Vancouver Infill & Lowrise Updates Discussion

[whatnext]

Originally Posted by Changing City

Chloe is at W47th and East Boulevard. The sales centre is at W43rd. The developer is Matchpoint (lead by Vicky Zheng). The renders suggest it will have 45 units in 4 storeys with retail on the main floor.

Oh dear, poor Chloe. Buyers go bye bye..

Matchpoint Facing Receivership On Completed Chloé Project In Kerrisdale
The Chloé project at 2096 W 47th Avenue in Vancouver was completed by Matchpoint Development last year and placed under receivership this February.
Howard Chai
May 22, 2025

Most development projects that face insolvency are ones that are in the early stages, which makes the Chloé project that's now under receivership something of an anomaly.

The Chloé project is a four-storey mixed-use project located at 2096 W 47th Avenue in the Kerrisdale neighbourhood of Vancouver, along East Boulevard and the Arbutus Greenway. The project consists of 46 strata units and 11 commercial retail units and was completed last year. The project website describes Chloé as "classical architecture and living spaces that reflect the natural beauty, heritage, and allure of the community."

The developer of the project is Vancouver-based Matchpoint Development, according to the project website, but court documents identify the developer as Lightstone Development. Provincial corporate registry records indicate that Matchpoint Development Ltd. changed its legal corporate name to Lightstone Holdings Ltd. in February 2019....

....The receivership proceeding was initiated by Peterson Investment Group, the real estate developer that also frequently acts as a lender and/or partner to other local developers. Peterson — the North American arm of the Hong Kong-based company of the same name — has been the lender in numerous local insolvencies in recent years, including Coromandel Properties, Create Properties, and Landmark Premiere Properties. Peterson is also a long-time and frequent partner of Westbank....

... The guarantors of the loan were 1082463 BC Ltd., 1218548 BC Ltd., and Gold Coast Industries Ltd., as well as three individuals named Ying Zheng Yu, Xiao Li, and Xiao Song Zheng, the last of whom is also known as Vicky Zheng, the Founder of Matchpoint Development, according to the project website for Chloé...

https://storeys.com/matchpoint-development-lightstone-chloe-vancouver-receivership/