Burnaby Eclipse Buyers Are Suing to Void Their Pre-Sale Contracts — And the Legal Fight Could Shake Every Lower Mainland Pre-Sale Deal

More than three dozen buyers who purchased pre-sale units at Burnaby's Eclipse condo tower have filed applications in B.C. Supreme Court asking a judge to declare their contracts unenforceable. The buyers allege that Thind Properties — the developer behind the 34-storey, 329-unit tower — breached B.C.'s Real Estate Development Marketing Act (REDMA) by failing to disclose material facts about its deteriorating financial position. Among the undisclosed issues cited in court documents: a $12 million judgment obtained by the Canada Revenue Agency against the developer in June 2023, the suspension of new home warranty insurance in October 2024, and the City of Burnaby's suspension of the building permit in November 2024. The 32 units at the centre of the court proceedings carry a combined pre-sale value of more than $26 million.

Thind Properties was forced into creditor protection in January 2025 after KingSett Mortgage Corporation — owed approximately $225 million by Thind-incorporated firms — initiated insolvency proceedings. At the time, the Eclipse tower was 95 per cent complete and 232 of its 329 units had already been pre-sold. The court-appointed monitor, KSV Restructuring Inc., has since worked to complete construction, reinstate warranty insurance, and file a strata plan. An occupancy permit was issued on April 10, 2026, and construction was deemed substantially complete by mid-March 2026. According to B.C. Assessment data cited in court documents, the assessed value of the Eclipse tower dropped from $257 million in July 2024 to $185 million in July 2025 — a decline of roughly $72 million, with nearly $70 million of that attributed to the building itself.