Investors of Nolan Hall and Harbourside Development Corporation demand refund because the condominium project has been stalled for more than 7 years. The condo is expected to be turned over already, yet to date no development is seen on its site.
Canadian Real Estate Magazine reports Carol-Ann Garland, one of the investors of the condominium project of Nolan Hall and Harbourside Development Corporation, came out to express her sentiments. She thought that her decision to invest in 2012 on the said real estate development would make her prudent. Her goal of investing almost $60,000 on 2 units is to have extra income. In her mind, once the condo would be finished, she could have the 2 units rented out, then have a monthly income for her daughter's college tuition.
Report says the condo project began its advertising in 2009. But then the construction has not begun. It is noted that "Kevin Nolan and Robert Hall, who run Nolan Hall and Harbourside Development Corporation, once boasted that these properties were 'a solid investment' and one which would offer security and projected great returns."
CBC News Canada says investors of the condo are already enraged and wanted their deposits back. Based on report, the developer of St. John Condominium refuses to refund the money that the investors had deposited when the company began selling units in 2009.
According to Garland, it didn't make sense that after signing the contract, the company would not honor the agreement, since it's stipulated clearly in the agreement that money should be refunded. "We signed a contract that promised our money back if we wanted out, we want out. Therefore, the money should be forthcoming," Garland said.
Garland had presented several requests to the run Nolan Hall and Harbourside Development Corporation, but then the company has not returned the money she deposited for the 2 units. Since the company remains mum, Garland together with other investors "has started a Facebook page called "Nightmare on Temperance Street" to put pressure on Nolan and Hall."
Aside from the Facebook page, those who participated also threaten the company a legal action. In fact, report says that Kenneth Harvey, one of the investors, "has already launched a lawsuit, naming Kevin Nolan, Robert Hall and their companies as defendants."
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