The 55-storey Vancouver residential condo and rental project at 1045 Haro St. is in receivership as owners owe BMO $82.7 million from a $95-million loan. Purchased for $172 million in 2018, the property was set to feature a 55-storey condo tower, a 15-storey rental building, a daycare facility, and a public plaza. However, financial challenges led to the project’s receivership, and the court has mandated its sale to repay the loan.

Despite Vancouver City Council’s approval in July 2022 for 450 condos and 66 rental units, the project faced hurdles, including height restrictions and concerns over view preservation. The property, currently holding a seven-storey apartment building assessed at $98 million, is slated for sale after Feb. 24.