Rewind yourself to 2016, where the buyers chose this project because of this developer CresfordStatsGuy wrote: ↑ what's ridiculous? concord paid much higher price than cresford for the property and taking it on to completion. they don't/didn't have to offer anything. Not like Concord paid a discount for it.
alternative is nobody buys the existing project/buyers and purchasers get their deposit back and thats it as Cresford is done. at least now buyers get a choice to keep their units and get a slight discount off FMV or get 3% interest on their deposit and walk away.
this is way better outcome than any other purchase including ground related housing where deposits are gone too
They could have gone with hmm Tridel, Great Gulf, Daniels, Menkes, Pinnacle basically any other downtown projects launching then and avoid Concord
4 years later while the other projects around same pricing get to current market value, they now lost that value up and getting 3% lol
Sucks for these buyers