Surrey buyers furious after developer tries to cancel townhome contracts, sparking legal fights and claims of betrayal.
Dreams Turned Into Nightmares
For many Surrey families, Creekside Terrace was supposed to be home. Buyers signed contracts years ago, waited patiently through delays, and finally saw the nearly finished townhomes standing tall on the site of the old Surrey Public Market. But instead of keys, they got cheques—and heartbreak.
This week, dozens of buyers opened letters from a lawyer only to find their deposit money returned. To them, this wasn’t relief. It was the developer’s way of backing out of the deal to resell homes at today’s skyrocketing prices.
Families Left in Limbo
Tania So, who put down nearly $92,000 back in 2017, refuses to cash her cheque. For her, the issue goes beyond money.
“We planned our lives around this place,” she said. “We thought our kids would grow up here. Now, seven years later, we’re left with nothing. No interest, no home—just broken promises.”
Her frustration is echoed by others. Some had already reshaped their lives around the new neighborhood, enrolling kids in local schools and daycares while waiting for the long-promised move-in.
Buyers Push Back Hard
The developer, Eddie Chiu, faced an angry crowd at the site after news broke. While he declined to speak with reporters, he admitted to buyers that financial troubles and bank pressure led to the push for new sales. According to Chiu, a $32 million debt has forced him to consider cancelling contracts and relisting the homes at higher prices.
But buyers aren’t backing down.
“We feel cheated,” said Harjit Bhasin, who invested $75,000. “If I had put that money elsewhere, I could’ve made hundreds of thousands by now. We won’t let this slide. We’re ready to fight in court.”
A Legal Showdown Looms
Buyers say they will launch legal action, including placing Certificates of Pending Litigation on the property to prevent resales. Their goal isn’t just compensation—it’s justice.
“We won’t cash those cheques,” one buyer warned. “If it takes years, so be it. He won’t sell these homes over our heads.”
The Site With a Complicated Past
The Creekside Terrace project rose on land once home to the Surrey Public Market, which shut down in the late 1990s. For nearly two decades, the property sat empty. When Chiu bought it in 2015, he promised a fresh start and even branded the homes as offering a “West Vancouver style of living.”
Construction finally began in 2022, but delays, costs, and disputes dragged on. Today, what was once marketed as a dream development has instead become a legal and emotional battleground.
What was supposed to be a story of new beginnings for Surrey families has now become a bitter fight over trust, money, and broken promises.
