Taluswood principal Rich MacIntosh was meeting with a potential partner and the Bank of Montreal Wednesday afternoon in an effort to refinance the exclusive townhouse development on Whistler Mountain.
Results of the meetings were unavailable at press time.
MacIntosh said he has been trying since September to get a group of lenders, including Whistler Mountain Ski Corp. and some individuals, to agree on a proposal for the bank.
"I actually gave up trying to get the partners together about five weeks ago," MacIntosh said. Since then he has been working with a group of new partners in an effort to buy out the old lenders.
Taluswood’s financial problems surfaced in September when construction on the second phase of the development was halted after a number of sub-trades had been unpaid for several weeks. MacIntosh said at the time the parent company, Black Tusk Development Corporation, was not insolvent or bankrupt but the bank was taking a long time to fund the last draw.
A number of sub-contractors filed liens against the company. Some sub-contractors are owed as much as $50,000 and could go bankrupt themselves if they aren’t paid what they are owed.
The Taluswood project was started in 1994 and is being built in phases. The upscale townhouses are carved out of the side of Whistler Mountain, above the Nordic subdivision and feature extensive log work. The units offer ski-in, ski-out access and sell for between $200,000 and $600,000.