Posted Feb 26, 2026, 5:14 PM
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Registered User
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Join Date: Aug 2013
Posts: 171
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Interesting update on a stalled two tower development at 65 First Street:
Quote:
Merchant House Facing Receivership On Two-Tower Kinnaird Place Project In New West
Victoria-based private equity real estate investment firm Merchant House Capital is facing a second insolvency, The Realist has learned.
The subject property is 65 First Street in New Westminster, located right next to Albert Crescent Park and steps away from the Fraser River and Pattullo Bridge, which was recently decommissioned and replaced by the stal̕əw̓asəm Bridge.
[...]
According to a progress report filed by Avison Young in August 2025, they had a list of 68 prospective purchasers, which they whittled down to seven “interested/engaged parties”: PC Urban, EBG Group, Path Developments, Global Education Communities Corp, Onni Group, Brookfield Asset Management2, and Wesgroup.
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