B.C. Supreme Court rules Terrace can keep $6.18-million deposit from industrial park developer

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B.C. Supreme Court rules Terrace can keep $6.18-million deposit from industrial park developer – CBC

by ahnationtalk on October 31, 202552 Views

Oct 31, 2025

City of Terrace allowed to keep construction deposit after developer Taisheng fails to meet deadlines

The B.C. Supreme Court has ordered a company to return a $6.18-million construction deposit to the City of Terrace after it failed to meet project deadlines.

B.C. Supreme Court Justice Mark Underhill has dismissed a lawsuit filed by Taisheng International Investments Services Inc., which sued the City of Terrace for the deposit related to the construction of a new industrial park south of the city airport.

Taisheng argued it was contractually allowed to keep the construction deposit, despite not developing a groundwater system for the park, which is a joint venture between Terrace and the Kitselas First Nation and has been in the works since 2014.

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B.C. Supreme Court rules Terrace can keep $6.18-million deposit from industrial park developer – CBC

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