Progress dispute at heart of Ormiston receivership

Ormiston Rise's promoters promised to build "high-quality, affordable homes ... much faster than in recent times".

Mon, 10 May 2021

Last Friday’s receivership of the 700-home Ormiston Rise subdivision was triggered by a breakdown in relations between its funders and contractors, but early signs point to the development being resurrected in coming weeks.In a statement this morning, the directors of the Ormiston Rise companies said they and the project’s financing partners had “lost faith in construction progress on the project”.“We continue to strongly believe in the community that is being created at Ormiston Rise and that it can be delivered....

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