Ridgeview Place builder faces financial difficulties four months after tenants move out

Ridgeview Place builder faces financial difficulties four months after tenants move out

Blue fencing surrounds the condemned Ridgeview Towers, a building in Langford that hasn’t seen any activity for months.

But things are happening behind the scenes. CHEK News has learned that the company that built the tower, DB Services, has filed for bankruptcy.

It’s the latest in a saga that took a turn four months ago when there was chaos on the street after tenants, including Erika Racette, were given just 24 hours to move out.

“I couldn’t believe it. I had just woke up from a nap. And I checked my email, and I thought, is this a joke?” Racette said.

An inspection by the Engineers and Geoscientists of BC revealed safety issues with the structure of the building.

An assessment by an independent engineer hired by the building’s owner, Centurion Properties, recommended immediate evacuation.

The thrift shop next door, operated by the Society of Saint Vincent de Paul Vancouver Island, is open. Executive Director Derek Pace said they reopened in July.

“The signs came down, that was one thing we were kind of questioning. Why are the signs down? And then we heard that the city had deemed it appropriate to remove the restrictions around the sidewalks and roadways around the building,” Pace said.

With DB Services filing for bankruptcy, bankruptcy trustee Grant Thornton is taking over its assets.

CHEK News tried to contact the principal of DB Services, Margaret McKay, in April at the company’s offices in Langford.

“Would she be the only one available to speak for DB Services regarding Ridgeview Place?

“At this time, yeah. But she’s not available.”

The creditors of DB Services are owed more than $50 million.

A meeting with the trustee, Grant Thornton, and creditors to determine the next steps is scheduled for Aug. 15.

WATCH MORE: Ridgeview Place tenant worries about financial help that has yet to arrive

Mary GriffinMary Griffin

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