April 12 2018
The BORO project withdrawn from the market
Launched in 2016, the BORO project involved the construction of 26 affordable housing units, including 22 townhouses, in the Pierrefonds-Roxboro borough. This project has received an Accès Condos accreditation following a thorough qualification process.
Due to exceptional and unusual circumstances, the developer was unable to complete the project. Indeed, its chief executive has been reported missing by the police department of the Ville de Montréal (SPVM) since November 5, 2017. His relatives had alerted the authorities at the time of his disappearance, because he allegedly made suicidal remarks a few weeks before.
In order to get out of the legal vacuum created by these unforeseeable circumstances, the Superior Court of Québec appointed Ernst & Young to act as interim receiver and to launch a call for tenders to find a new developer.
Throughout this process, the SHDM has urged those responsible for the project to ensure transparent communication with buyers by regularly informing them of progress or obstacles encountered. Going beyond our strict legal responsibilities, we ensured a personal follow-up, addressing everyone’s concerns and disappointment to the best of our abilities.
All partners were hoping to find a solution to complete this project according to the parameters of the Accès Condos program, but this was not possible. All buyers will be released from their commitment by the interim receiver and deposits will be refunded, without condition or penalties.
The Accès Condos team shares the disappointment of buyers interested in this project and we continue to develop other projects that you can explore in the Projects underway and Projects to come sections.
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