It's unclear when the Penhorwood Condos will be demolished.
Former tenants had hoped the buildings would reach the wrecking ball before Winter, but Condo Board Chair Christine Burton says, although legal barriers have been removed there's only one thing holding that process back.
"Those buildings will cost more to repair than they would to rebuild, so it makes no sense to have them standing there as an eyesore to our community," Burton said. "The major barrier to bringing them down is simply the cost; we have a rough estimate of a $1 million to bring them down."
Burton says the process has gone nowhere, leaving former tenants with few financial options.
"We did approach some of the banks and asked them directly and they said they could only do that if CMHC got involved, and then CMHC said they don't want to get involved," said Burton, "so here we are stuck on the merry-go-round."
Adding continued attempts at mediation have failed to garner any offers.
"I have to tell you we are determined to take this to trial. If there's an opportunity there to settle it at any point before that, we'd very much like to entertain that," Burton said. "But the parties, at this point in time, don't seem very enthusiastic about any kind of settlement talk."
168 owners of the now condemned buildings are embroiled in a $60 million lawsuit, after a mid night evacuation in March 2011 left more than 300 people homeless.