Condo Owners Want Their Money Back!

Vancouver Olympic Village condo buyers suing city and developer

Sales of condos in the former athletes village will not be hurt following lawsuits alleging shoddy construction and improper disclosure, a consultant representing the marketer said Thursday.

The 62 plaintiffs, who bought their units during the pre-sale phase, want their money back.

They say they feel they didn\\\'t get what they paid for, explained their lawyer Bryan Baynham, who filed a total of five lawsuits against the five different villages in the development.

But Lesli Boldt, president of Boldt Communications, who is acting as a consultant to the man marketing the condos, Bob Rennie, said on Thursday that there is little concern that the bad press will slow sales, which have remained strong since last month.

\\\"We are not really concerned in terms of sales,\\\" she said when asked about the effect the lawsuits might have.

\\\"Sales are going well and people seem to be very happy.\\\"

The lawsuits, filed Wednesday afternoon, come on the heels of a massive public-relations campaign in February that saw the $1-billion project rebranded as the Village on False Creek. As part of the relaunch, 230 units had their prices reduced by as much as 45 per cent, resulting in the quick sale of 128 units.

The buying spree has been the only bright spot in an otherwise quiet year that has seen the development sit almost completely empty since the Olympic closing ceremonies. Boldt said the sales centre remains busy and new deals are being made every day.

Baynham said his clients have also complained about doors that won\\\'t close properly, uneven floors, ventilation problems, smaller-thanexpected rooms and dysfunctional appliances.

\\\"The basic beef is that they didn\\\'t get what they were promised,\\\" said Baynham.

Baynham said the failure of the city to properly disclose its ownership of the property means the disclosure statement at the point of sale was not in compliance with the Real Estate Development Marketing Act.

He said that means the owners are legally entitled to rescind on the agreement, even after the sale has been closed.

A spokesperson for the City of Vancouver said there have been ongoing repairs and adjustments to reported problems since the development was taken over by court-appointed receiver Ernst & Young last November.

Source Vancouver Province