The developers of the high-profile CURV tower in Vancouver have filed a civil claim against one of its pre-sale purchasers over unpaid deposits, according to filings in the Supreme Court of British Columbia.
CURV is a 60-storey residential tower being developed by Montreal-based Brivia Group and Henson Developments at 1075 Nelson Street (formerly known as 1059-1083 Nelson Street) in Vancouver. The project has drawn a high amount of publicity as a result of its ambition to become the tallest passive house building in the world and its equally as ambitious prices, which have surpassed $4,000 per sq. ft for some units.
The developers own the property under 1075 Nelson Development Holdings Inc. and 1075 Nelson Development Limited Partnership, the latter of whom filed a Notice of Civil Claim on November 18 against Marie Antoinette Johnson and a company called Shields Family Office Inc. that lists Johnson as its sole director.
According to the developers, Johnson entered into four separate presale purchase agreements on March 4, 2024 with the following deposit terms:
Unit 5301:
- First Deposit: $50,000 before March 11, 2024
- 2nd to 16th Deposit Payments: $50,000 each on or before the 11th of each month
- Total Deposit Amount: $800,000
Unit 5306:
- First Deposit: $50,000 before March 11, 2024
- 2nd to 20th Deposit Payments: $50,000 each on or before the 11th of each month
- Total Deposit Amount: $1,000,000
Unit 5901:
- First Deposit: $200,000 before March 11, 2024
- 2nd to 14th Deposit Payments: $200,000 each on or before the 11th of each month
- Total Deposit Amount: $2,800,000
Unit 5902:
- First Deposit: $200,000 before March 11, 2024
- 2nd to 16th Deposit Payments: $200,000 each on or before the 11th of each month
- Total Deposit Amount: $3,200,000
According to the developers, Johnson herself was the purchaser of the first two units while Shields Family Office Inc. was the purchaser on the other two units. In all four instances, the first deposit was paid in full and on time, but all subsequent deposit payments were not paid.
The developers say they issued demands for payment to Johnson on September 19 and Shields Family Office Inc. on September 26. After not receiving a response, they then issued demands once more on October 1 and October 3. In their civil claim, 1075 Nelson Development Limited Partnership asked the Supreme Court to recognize the debts owed on the missed deposit payments, plus the amounts due on remaining deposit payments, plus interest.
Johnson and her company each have 21 days to respond to the civil claim. Neither has yet to do so as of December 2.
CURV
A rendering of CURV in Vancouver. / Brivia Group
Although most known for its 350 luxury condos, CURV was also set to include 49 market rental units and 102 social housing units, according to the development application that was approved in April 2022.
In June, however, the development team submitted a zoning bylaw text amendment application that would cut the social housing units and increase the amount of market rental units up to 174.
"The social housing obligation of the project will be met through a cash-in-lieu payment, which will be used to deliver off-site social housing," said the City of Vancouver in a note regarding the application. The option of cash-in-lieu of social housing was made possible after the City amended the West End Rezoning Policy in September in an attempt to help stalled projects move forward.
Brivia Group has also asked for a text amendment that would allow for balconies on the eastern and western side of the building to be enclosed. The change assists the building in meeting passive house standards, the City says, and increases the density of the project from a floor space ratio of 24.7 to 26.35, according to an application submitted to the City in June 2023.
Under British Columbia's Real Estate Development Marketing Act, developers have to secure a construction financing commitment from their lender (by hitting the lender's pre-sale target requirement) or obtain a building permit within 12 months of filing their disclosure statement to the BC Financial Services Authority detailing the project and what they are offering. If they fail to meet this requirement, they must cease sales. The project then can potentially collapse unless the developer opts to try again, which usually entails allowing existing presale purchasers to back out without penalty and making additional investments towards re-launching.
Presales on CURV launched in May 2023 so the 12-month period has now passed, but two industry sources tell STOREYS that a new disclosure statement for CURV was filed this April and the development team will now have until May 2025 to hit the 12-month deadline. STOREYS reached out to the CURV team on December 2 and has not received a response, but an Instagram post by the CURV team dated November 22 indicates that presales are ongoing.
