where's that balloon...
[a href="vny!://ca.news.yahoo.com/s/cbc/071127/canada/vancouver_bc_condo"]vny!://ca.news.yahoo.com/s/cbc/071127/canada/vancouver_bc_condo[/a]
Skyrocketing construction costs driven by Vancouver's sizzling real estate market have forced a developer to pull out of two projects worth $95 million.[/p] Developer Bill Eden, who owns The Eden Group, told CBC News that because of financing difficulty it's not possible for his company to finish the projects.[/p] "The industry itself - very difficult to get financing," Eden said on Monday. "Basically, it's extremely uncertain whether I can actually complete that building."[/p] That development project is the Elyse, a 119-suite condominium complex planned for E7th Avenue and Scotia Street in Vancouver. There are 55 people who made presale purchases beginning in February.[/p]Another Eden project, a $30-million estates townhouse development, has also been shelved. That site is also for sale.[/p]
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