78 condo buyers in limbo as developer defaults

Developer of The Sophia Bill Eden says he is out of money. The luxury condo building has gone into receivership, leaving 78 presold units in limbo.

“Unfortunately we’ve run as others have into large overruns at The Sophia,” he said. “It’s difficult to get trades (tradeworkers). Costs have skyrocketed, and we’ve ended up in a situation where the bank has taken over.”

The building promised “sophisticated uptown living” at 298 East 11th Avenue in Vancouver and housed a total of 81 units with hardwood floors and granite countertops.

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