
The Conservatory was supposed to be completed by 2004. (Photo: Kelly Hayes) |
More cash problems for Conservatory
by
Kelly Hayes - Story:
39172
May 7, 2008 / 10:44 am
Work at what has become one of the longest construction projects in Kelowna, has ground to a halt again.
The Conservatory residential resort on Glenmore Road has run into another delay.
Spokesman, Frank Faigaux, admits that work has ceased due to a lack of funding.
He says the general contractor has not been paid because the developer has run out of cash.
Faigaux blames the delay on increasing labour and material costs.
The original price tag to build the luxury condo building was a little more than $14 million. That was in 2002. The new price is $29 million.
The project, which has run into several delays mostly because of funding, was supposed to be completed by 2004.