The developer went into receivership November 2007, the construction is continuing under a receiver. For further information please contact; Derek Lai, CMA, Bowra Group - Receiver for H & H 1930 - 1095 West Pender St. Vancouver, BC V6E 2M6 (604) 608-6243 (604) 689-8584 [email protected] www.bowragroup.com Residence size: 1bedroom, from 557 sq.ft.; 2 bedrooms, from 910 sq.ft.; townhouses, from 1,180 sq.ft. Architect: IBI/HB Interior Design: BYU Interiors Tentative occupancy: Fall, 2008 [email protected] Website: www.hhyaletown.com
On November 28, 2007, pursuant to a Court Order of the B.C. Supreme Court, The Bowra Group Inc was appointed Receiver-Manager of the assets, undertakings and properties of Chandler Homer Street Ventures Ltd (the "Company").
The Company was developing a 192 unit condominium tower, referred to as the H&H project, located at the corner of Homer Street & Helmcken Street in the Yaletown area of Downtown Vancouver. The project was approximately 7 months from completion as at the date of Receivership.
The Receiver-Manager is borrowing the necessary funds to complete the project.
Presale Contract Purchasers - H&H Project
At this time, all presale contracts are being reviewed by the Receiver-Manager to determine if they were sold at fair market value ("FMV") at the date of the contract. Any contracts that were sold significantly below FMV at the date the contract was entered into could potentially be cancelled by the Receiver-Manager, subject to court approval. We believe the majority of the contracts were sold at fair market value and will be honoured by the Receiver-Manager.
The Receiver-Manager will mail out a copy of the disclosure statement during the first week of March to presale contract purchasers. If you received a copy of the disclosure statement, it is assumed that your contract was sold at FMV and will be honoured by the Receiver-Manager. As part of the disclosure statement package, there is a form that the Receiver-Manager requires you to fill in sign and acknowledge receipt of the disclosure statement and either fax or mail to the Receiver Manager.
Units for Sale - H&H Project
Agents for the Receiver are RE/MAX Crest Realty North Vancouver 604-988-8000. Care of Marjan Mazaheri 604-617-7870 (Cell) and Coral Ashe 604-889-3920 (Cell).