Real-estate marketer Pilothouse Real Estate Inc. is suing project manager Tridecca Developments Ltd. for failing to pay Pilothouse a $125,000 bonus after Pilothouse allegedly successfully sold units in the River View Terrace development for higher-than-expected prices.
A Tridecca spokesperson told Business in Vancouver the company is denying the claims.
On April 30, Pilothouse filed a notice of civil claim in the BC Supreme Court alleging that it had a contract with Tridecca to market units in November 2011 at the New Westminster project, which is now under construction.
In early 2012, Pilothouse touted its success on the project to BIV. Pilothouse partner Vince Taylor said that his company sold 76 units in under an hour.
He attributed the sales to an innovative sales technique where projectors beamed light from the ceiling in the shape of full-size floor plans so prospective buyers could determine how big their suite would be.
Projectors also beamed time-lapse views, taken from the 10th floor of a neighbouring building, onto each of the presentation centre' four walls.
Pilothouse alleges that its agreement with Tridecca was that if the average sale price for the units in the development was at or above $430 per square foot, Pilothouse would be entitled to a bonus of $50,000. The agreement also allegedly held that if the average sale price for the units met or exceeded $435 per square foot, Pilothouse would be entitled to a further $75,000.
Pilothouse's notice of civil claim alleges that the average sale price for units in the development was $436.
"Despite subsequent demands for payment, the defendant has since refused to pay in whole or part," Pilothouse alleges in its notice of claim.
None of Pilothouse's allegations has been proven in court.
