Tuesday, December 21, 2010  
   Volume 80 - Issue 51 Website:www.passherald.ca   email: passherald@shaw.ca   $1.00   
Return to Home Page

Xmas Hours
On December 9th, the locks on the Bridgecreek River Run office, located on the corner of 129th Street and 21st Avenue in Blairmore, were changed, and sources have indicated this is a result of the company declaring bankruptcy and entering receivership.
When the Pass Herald attempted to contact Bridgecreek for further information and comment, it was discovered that the phone numbers for Vice President Bill Bradley, CEO Jon Mintoft, and Bridgecreek’s Calgary office are all no longer in service, as well as Bradley’s email address.
This development comes after a controversial and tumultuous year for the company, which had originally proposed the development of an upscale hotel, executive townhouses and family homes on a 52-acre expanse of land next to the Crowsnest River in Blairmore, and a marina, casino and condominium complex at Crowsnest Lake, in 2004.
Since that time, virtually no development has been performed on any of the proposed projects, sparking investor unrest and public outrage in the community.
In February of this year, River Run Vistas, a group representing investors with first mortgage rights on 67 of the proposed 300 lots of the River Run property, voted to accelerate and take control of the land.
The group contributed a total of $14 million dollars toward the River Run project, and made the decision to accelerate after Bridgecreek defaulted on interest payments at the end of 2008.
“We’re moving forward, I’m not a quitter,” said Bradley in response to the vote. “I want to see this happen more than anything. If they’re not going to be part of it, I’ll leave them in the dust.”
Additionally, on August 17th, former Council denied a proposal from Bridgecreek to rezone the land on which sits the River Run office, which has sat vacant for more than a year, and convert it into a 24-unit affordable rental housing project.
Former Councillors Dean Ward, John Salus, Ian MacLeod, and David Cole voted against the proposal.
“I have a problem with this rezoning,” Ward said. “I’m concerned about what’s going to happen here.”
Evidently, the decisions regarding Bridgecreek which were made this year were good ones, as all projects and facets of the company are now receivership.
Further information will be provided once the name of the company overseeing the receivership is made public.
Return to Home Page
   Volume 80 - Issue 51 Website:www.passherald.ca   email: passherald@shaw.ca   $1.00   
All information on this website is Copyright (c) 2010 Pass Herald Ltd. All rights reserved.
12925 20th Ave, Box 960, Blairmore, Alberta, Canada T0K 0E0
| passherald@shaw.ca
403.562.2248 | 403.562.8379 (FAX)