Surrey condo tower developer defends substantial delay
Edmonton-based Everest Developments claims four-year pause in construction was due to outside forces and it is now on track to completion - but some pre-sale buyers are skeptical
By Frank O'Brien, Western Investor | June 2, 2023
The building site of Centra, a 167-unit condo tower in central Surrey, was nearly sold out in 2019 and some buyers are now asking for a return of deposits due to construction delays. | Everest Development Group rendering
The building site of Centra, a 167-unit condo tower in central Surrey, was nearly sold out in 2019 and some buyers are now asking for a return of deposits due to construction delays. | Everest Development Group rendering
Edmonton-based developer Haris Thiara, president of Everest Development Group, is defending a four-year delay in construction of a nearly sold-out Surrey condo project that is now not expected to complete until December 2024.
But, unlike some other Metro Vancouver developers who have bailed out of troubled projects, Thiara said Everest would meet the new deadline and honour the original prices.
The Centra, a 167-unit, 23-storey condo tower at 13852 101 Avenue in central Surrey, was issued a development permit on October 4, 2016, and building permits in 2018 “allowing the start of construction”, according to the City of Surrey.
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https://biv.com/article/2023/06/surrey-condo-tower-developer-defends-substantial-delay