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FOR IMMEDIATE RELEASE Phoenix Genesis announces Lakefront DealAgreement reached with Lakefront Utilities for Utility MetersDecember 12th 2006 -- Phoenix announced that following a Two year delay in Commencement of the "Mansions on George" Cobourg Residential Condominium Development, Agreement has now been reached with Lakefront Utilities regarding the location of the Utility Meters. Lakefront had insisted that a separate Water Meter was required in each unit contrary to normal Ontario Mid Rise Condominium Construction. Phoenix argued successfully that this would be costly for prospective Purchasers and an ongoing expense to residents. This requirement had not been applied to other past Condominium Projects and others now underway. Phoenix is pleased to announce that, after a Two Year Moratorium, the Development can now move ahead next Spring with confidence of being able to set realistic Occupation Dates. Sales can resume after a hiatus of 30 months to resolve this issue. In the meantime the Town of Cobourg has lost considerable revenue from Property Taxes and the delays have increased the costs of the Development considerably. At this time there will however be no increase in Condominium Prices but this will remain under review. For More Information Contact:
Denise Liboiron, Real
Estate Sales Representative |
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