Had a friend who was affected by this. He bought a 2B+D in the first building. Got a good deal paid the money and now they said project is cancelled. He was looking at a $150k appreciation. Liberty is one of the biggest developers in the country and saying finance problems is total BS. I have a condo in a different project in the same area and I would hate for this to happen. Hopefully none of you are affected by this.
They should change the law so the builder if they redo the project in the future they have to give the same people an option to buy a similar unit at the original price. We all know liberty doesn't have money problems.
I know they used the contract to make it legal for them to do this but hopefully liberty gets a class action lawsuit.
https://globalnews.ca/news/4129315/vaughan-cosmos-condominiums-liberty-development/
They should change the law so the builder if they redo the project in the future they have to give the same people an option to buy a similar unit at the original price. We all know liberty doesn't have money problems.
I know they used the contract to make it legal for them to do this but hopefully liberty gets a class action lawsuit.
https://globalnews.ca/news/4129315/vaughan-cosmos-condominiums-liberty-development/