Comments on: Resort at Copper Point is latest victim of global recession

By: Disgusted Calgarian

Disgusted Calgarian — Fri, 27 Mar 2009 20:01:56 +0000

I understand Hank is now building a 10 million dollar home in Aspen Estates in calgary, i have no direct connection to the project in Inveremere.
I know what its like to get screwed by others, Hank truely does know better, i hope for his sake as well as the Calgary business community he does the right thing and work for a solution to this

By: offshore buyer

offshore buyer — Fri, 27 Mar 2009 06:18:22 +0000

how i understood it, one of the reasons for the major delays was that the roofing company messed up the entire roof and that added another two to three month delay as they had to remove and rebuild the whole structure. As an investor i still believed it was a sound project as the 86% sales had already covered construction costs. They would have opened with all construction costs paid at 86% sales. Maybe the two purchasers that wanted their money back were more desperate for cash than the rest of us and started this domino effect. I am happy leaving my deposit there. I believe in the valley and it’s surrounds. The project is nearly finished. Rarely does a project like this ever finish on time except China.

By: Anonymous

Anonymous — Mon, 16 Mar 2009 15:53:04 +0000

I do not believe this has anything to do with the economic climate and i wish news agencies would look into the real problems rather than blaming the economy, its no wonder our economy is sinking when all you ever hear is negative reporting from the so called professional news industry. The problems on this site are numerous staring from the owners lack of concern to pay sub-contractors to the Construction Management team that did not seem to care about normal protocal like written instructions, contracts or anything that would allow them to track costs on the project. When you run a project of this size without paperwork you run the risk of it failing. As far as i know the project was 80 % sold and probaby around 80 – 90 % completed , I dont know if the owners who paid there deposits were pulling out, But i think if the bank were happy with the progress on the job they would not have pulled there funding. The economy may play a part but not enough to shut the site down.

By: Anonymous

Anonymous — Thu, 12 Mar 2009 03:26:27 +0000

Can’t these people file mechanics liens to secure what’s owed to them instead of letting the lenders go first? If rights are asserted, don’t subcontractor claims and unpaid wages take precedence over just about everything?

By: Harold Hazelaar

Harold Hazelaar — Wed, 11 Mar 2009 22:09:03 +0000

Swartout and McPhail will look after themselves. It’s the sub-trades and suppliers, that are owed over seven million dollars collectively, who will suffer. Unfortunately, contracts mean nothing anymore.

By: Anonymous

Anonymous — Tue, 10 Mar 2009 15:37:13 +0000

The deposits are held by a private entity and therefore the partners could not use them for their building costs. They will be paid.

By: Anonymous

Anonymous — Mon, 09 Mar 2009 22:14:57 +0000

Greed is what happened to the Valley, there will be no return on deposits as the lending group will get paid first and also very sorry for the trades men who will get zip.

By: RCP layoff

RCP layoff — Sun, 08 Mar 2009 08:30:11 +0000

I was a worker at this site. After the initial shut down in Dec. we were assured it would start again soon. I stuck around in the area due to the promise of further experience in my trade. The date was bumped back in 2 week intervals until I heard that the site would not reopen. This is especially hard for me as I have a young family and was just looking for a nice place to live with good jobs. I really thought I had found that here. Turns out that the climate of this area soured so quickly we didn’t have time to leave. Guess it’s time to pound the pavement and mow some lawns for the summer.

By: CVNews

CVNews — Fri, 06 Mar 2009 06:57:18 +0000

We mentioned in our previous comments that there were things we had heard, the contractors not getting paid was part of that. We could not verify any of that information and hope that some of those people will come forward.

By: Anonymous

Anonymous — Fri, 06 Mar 2009 06:08:22 +0000

One can’t help thinking that if this project was more genuinely useful to society that it might have succeeded. Do we really need more pricey ‘golf-ghettos’? for the wealthy? What about the small contractors who aren’t getting paid and can’t afford lawyers? There is no mention of this in your article, only talk of the wealthy investors.