- BC Games
Unreasonable gamble forced on developer
Editor: Developers take numerous gambles, for which they are often greatly rewarded, although they have also been known to go spectacularly bankrupt.
A gamble that no reasonable person expects to take, is that almost a year after receiving approval from the municipality and after incurring considerable expense, the heritage alteration permit it was granted is nullified because of a third party’s actions.
If developers have to now protect themselves against the possibility that their projects will be halted one-third of the way to completion you can bet that they will have to build that potentiality into the price of their projects for which, in the end, we will all pay.
So, thanks to the Society of Fort Langley Residents for Sustainable Development, we are all losers.
Fort Langley has lost a significant project (hopefully not forever); Statewood Properties and all those employed by it have lost money; and developers and the public have lost confidence in the process of approval.