A large Vancouver developer has cancelled a major project that was to add 204 homes, including condos and townhomes over several buildings, on a half square kilometre plot in southeast Vancouver.

Wesgroup Properties confirms that the Ardea project “is no longer viable for us” and blames “higher-than-anticipated construction and delivery costs.”

The company didn’t say how many units had been sold, but the site had been excavated.

Ardea had been scheduled to be completed by spring 2028 and was billed as a concrete, waterfront development with “numerous pathways, extensive landscaping and a two-storey amenity building that includes a hot tub, cold plunge pool, steam and sauna room, a dining and kitchen lounge, and a gym.”

Wesgroup owns most of the land covered by the River District plan,

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