Railtown and Frank 525 -UPDATE!

By now most of you have probably seen the ad Railside Developments has paid big bucks for (unless they got the space in trade) in the Chronicle Herald [p. D8 Feb. 2 issue] Pretty ingenious huh? What else could they do?

They claim in the ad to have only 9 left unsold although we count 13 but perhaps they haven’t updated the website.

They claim to like the publicity so we, perenniel Wolfville boosters that we are, have to be willing to give some too. So visit www.experiencerailtown.ca and ask a few questions as they invite you to do. It will give them some more traffic. We’ve certainly had more hits here at Ww with people looking for info. Vultures circling, perhaps, looking to pick some bones?

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Our coverage of the latest ish of Frank is overdue, especially since it has a very Wolfvillian story in it on Railtown. Seems the Tim Hortons crowd was on the money when they opined that Railtown was in trouble financially. Well, that figures. If you want to know that kind of thing, ask the trades. They know who gets paid and who doesn’t. In this case LaFarge didn’t get paid (among others probably) and they aren’t going to take it anymore. According to the Franklander, who keeps an eagle eye on court actions:

“…the colourful Harbourside Drive Condo development was challenged with a Supreme Court debtor action by construction biz LaFarge Canada.

LaFarge initially registered a claim for lien against Railtown property owners Railside Development Ltd. in the amount of $132,441.50 last Nov. 30 … LaFarge alleges it supplied labour and materials to Railside until Sept. 27, 2007. According to the recently filed court documents, the builders were not paid in full “despite repeated demands.” … Husband and wife duo Bailey and Tim Sousa who own the Edmonto-based Precedence Homes Ltd. are Railside principals and also operate the In Wolfville B&B on Main St. In July 2006 Tim, Bailey and her pop Jim Thorpe guaranteed a $4.7 million mortgage on the colourful Railtown erection… ( Frank 417)

When I last chatted with developer Jim, he assured me Railtown was “proceeding normally” albeit six months behind schedule due to a laobour shortage, and shot down the local gossip that the 75,000 square foot luxury condo had financial troubles.

“People like to see people fail… there’s been rumours from the onset,” Jim told me (Frank 518) … [wasn’t it the Mayor who said that Billy Bob?]

None of the allegations have been proven in court.

There is more in the article about what LaFarge is seeking and what may happen to the property if LaFarge wins its case, so if you want to know more we suggest you run out and buy issue 525 which has much else of interest in it also which we will cover in a subsequent post.

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8 responses to “Railtown and Frank 525 -UPDATE!

  1. Did you see Railtown’s open letter to Frank on the back of the sports section in today’s Herald?

  2. joanne macpherson

    In Saturday’s Chronicle Herald this developer has taken out an ad thanking Frank, claiming their story helped sell more of these units.

  3. Sure did! Very creative, what? Stay tuned. Sure has done wonders for our stats too. Readers have doubled!

  4. Wow does that mean that there will be more visitors to Wolfville looking for a great deal on a condo? ; )

  5. Be on the lookout for Frank’s witty reply in tomorrow’s issue.

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