Homebuyers sue Richmond developer that resold their units at higher prices

A group of people who bought homes from a Richmond developer have won a court case after the developer cancelled their contracts and sold the units to new buyers at higher prices.

In a decision posted this month, BC Supreme Court justice Kevin Loo sided with 30 plaintiffs who purchased pre-sale units in the Alfa project in Richmond.

The buyers signed pre-sale contracts in 2015 and 2016, but in 2019 developer Anderson Square served them termination notices. Two years later, the project was completed and the units were sold to other people for more than the 2015-16 prices.

The project’s journey to completion was tumultuous, with the developer’s ownership changing hands and the original construction contractor dropping it as a client.

The plaintiffs sued the Richmond developer for breach of contract, and the court awarded the group more than $13 million in damages. The damages will be split amongst the group, except for one buyer who attempted to impersonate his father in court.