Yet another BC condominium project has entered recievership, but this one isn’t in the lower mainland. The Willows in Lake Country, Okanagan has left about 78 pre-sales buyers waiting to find out what’s going to happen with this condo project thats currently near 75% complete. The developer in this case is Victoria based Divergent Environments and the receiver is BDO Dunwoody.
This year hasn’t started off with the greatest track record when it comes to pre-sales. Problems at the Willows makes at least five BC housing projects that have failed in the last few months. The Eden group canceled two projects in November and then saw the Sophia go into receivership last month. February also saw two Chandler Development projects, H+H Yaletown and Garden City in Richmond go into receivership and on Friday we got news that construction has been halted on the Abbotsford condo tower Brio.