Rumours have been rampant in the community for some time now about the future of the River Run residential project on 52 acres in northern Blairmore. On Thursday, July 23, the Pass Herald sat down with Bill Bradley, one of the principal owners of the
Bridgecreek Development Corporation, to find out where the company is and what they plan to do in the future.
Bradley indicated that the recession that hit the country and the world last fall severely affected their ability to raise money. Their funding efforts ground to a halt, stalling any work on the project.
“It’s had a severe impact on us,” said Bradley. “I know people are frustrated.”
He said that the company has been making several corporate changes through the first half of this year, to prepare for when the economy turns around.
Bradley made no effort to hide the fact that the company has been faced with financial difficulties. At the end of December, 2008, they defaulted on payments to some of their investors, and Bradley admitted that they made some mistakes in how they handled some aspects of their company.
He was also blunt in dispelling rumours that have taken root in the community. “We are not on the verge of bankruptcy,” he said. “We have our heads above was experienced. He adds a lot of credibility.”
Bridgecreek closed its doors on all of its major headquarters as of June 30, said Bradley, cutting their overhead by 90 percent. They no longer have offices in Vancouver, Calgary, or the Netherlands.
The sales centre in Blairmore, said Bradley, is now the company’s headquarters. They have been keeping it open on weekends, but soon plan to open six days a week.
Bradley himself has moved full-time to the Crowsnest Pass. He said that he has been spread too thin over the last three years, chasing down funds and travelling to promote the project, and he wants to settle down with a renewed focus on River Run.
“I lost my focus,” Bradley admitted, “and I made a lot of mistakes, but we’re correcting those by being here. I know it’s absolutely imperative that we be here in the community.”
“In my view we will manifest River Run,” said Bradley. “These things take a lot of time, and a lot of effort, and a lot of community support. We’re focused on the Crowsnest community. It’s my dream to see this happen.”
He said that there are signs of recovery both in the community and in the national economy. The company is getting closer to resuming its activities, he said.