Saturday, January 31, 2009

Market stalls condo project

A Bridgeland condo project, once hailed as a shining example of inner-city development, is being put on hold because of the falling real estate market.

The first condos in the Crossings at the Bridges, a 142-unit project that's part of the landmark Bridges development, were due to start being sold in February, with construction to follow shortly after.

But then the global financial crisis and Calgary's dropping real estate market arrived, leading developer Apex Cityhomes to send out notices on Friday to hundreds of potential buyers that plans were being postponed until the market rebounded.

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