Thursday, December 11, 2014

Downtown Hotel Will Forfeit $25,000 Deposit

Will face more stringent building code requirements

It is reported in the local Daily, that SSS Manhou will not be submitting their blueprints for the highrise hotel to the city by the Dec. 17 deadline. This will result in the forfeiture of a $25,000 deposit. It will also mean any future building will be required to meet more stringent building code requirements.

The article quotes the companys architect as saying SSS Manhou will not be meeting the Dec. 17 deadline but they intend to go ahead in the springtime.

SSS Manhou bought the lot adjacent the conference centre for $565,000 and the city has the right to purchase the property back if the company chooses not to proceed.

allvoices

2 comments:

  1. With the current state of the Chinese economy, it will take a turnaround of global proportions for this to go ahead in the spring, unless they are talking of the spring of 2020!

    ReplyDelete
  2. This project will never go ahead unless the Federal Government reinstates the Immigrant Investor Program that they recently abolished with over 65,000 Asian Immigrant Investors in the queue for approval

    ReplyDelete

Your comment will appear after moderation before publishing,

Thank you for your comments.Any comment that could be considered slanderous or includes unacceptable language will be removed.

Thank you for participating and making your opinions known.