It's been almost two years since potential buyers purchased $500 tickets to a VIP Access event that would give them first dibs on units of the new condos planned to be built on 8th Line in Bradford.
But now, the developer and real estate broker involved have gone MIA, leaving residents out of pocket and frustrated.
The plan was to host the exclusive pre-sale event in spring 2020 for those who had purchased the $500 VIP tickets in the fall. But spring came and went, and the event never happened.
The ticket issued by Twin Regency Bradford Condominiums noted that the holder was entitled to attend a special opening event for the purpose of reviewing floor plans and having the opportunity to purchase a condo suite prior to opening up sales to the general public.
The purchase of the ticket did not entitle or guarantee that the purchaser would be able to buy any specific unit, it only provided access to the special evening event. The purchaser of the ticket would also receive a five percent discount from the listed purchase price, a free locker, free parking, one year of free maintenance, development caps, free assignments, and all discounts announced on launch night.
If the purchaser was no longer interested in purchasing, they could contact Remax Hallmark BWG Realty Inc. in writing to request a refund and would receive their deposit back within seven days of receipt.
The $500 from the sale of the ticket would then be deposited into a non-interest bearing trust account and held until the purchaser entered a binding agreement of purchase and sale for a suite, in which case the money would be applied toward the purchaser's deposit.
It was later learned that Remax had pulled out of the project. BradfordToday contacted the Curtis Goddard Team at Remax in April for comment but did not receive a response.
In April 2021, the developer, Twin Regency, told BradfordToday that the project was on hold as they worked on a new construction schedule and showing date for the VIP event, but ticket buyers were able to get a refund if requested.
One couple, who would like to remain anonymous, said they purchased a ticket in December 2019, excited about the first condo development in Bradford.
"We waited almost two years for the Twin Regency development to launch with frequent updates from Triumphant Group stating that the project would be moving forward," they told BradfordToday.
The couple reached out to the developer recently requesting a refund, only to get a bounce-back email and no response by phone.
"Now that they are not responding to my refund request, I feel cheated and misled," they said. "I also feel helpless because I have exhausted all avenues to try to get in contact with them with no response."
Many others in the Facebook group ''Bradford Condos VIP Ticket Holders' reported similar complaints. A few stating that they have not heard any response back regarding their requested refunds.
Home Construction Regulatory Authority says they are aware of the matter and looking into it.
BradfordToday reached out for comment to the Triumphant Group inquiring about the current status of the project, but did not receive a response in time for publishing.
