An unfinished resort near Louisbourg, where only 10 high-end homes have been constructed after seven years, is now listed with a real estate company.
It's a far cry from the 400 homes, spa and golf course that CBI Cape Breton Island Developers Inc. promised to build when the Louisbourg Resort Golf and Spa was announced in 2006 with great fanfare.
Henric Bauermeister, a German developer with CBI Cape Breton Island Developers Inc., wouldn't say much about putting the resort up for sale.
"It is just about exploring and keeping options open while we work on a long term solution for the resort. The intention is absolutely to further develop and build the resort which we are convinced will work out," Bauermeister said in an emailed statement.
"It is such a nice unique place and area, a solution should and will be in place shortly."
Bauermeister did not provide any further details about the sale.
In 2006, Premier Rodney MacDonald and federal cabinet minister Peter MacKay attended the launch of the resort, lauding the developers for undertaking the multimillion-dollar project with no government funding.
Over the next two years, Enterprise Cape Breton Corporation — a federal Crown corporation created to promote and finance the development of Cape Breton Island — quietly provided $1.5 million, despite earlier assurances by the developer that no government funding would be used for the development. CBI Cape Breton Island Developers Inc. was not required to pay back the money.
That information was obtained through project documents made public by ECBC.
The money from the Enterprise Cape Breton Corporation was to build the resort's sewer and water system, a system that has never been connected.
Mike MacKeigan, an administration manager with the Cape Breton Regional Municipality, told CBC News there are simply not enough homes on the site to make the water and sewer system work.
A spokesperson for the Atlantic Canada Opportunities Agency said the organization loaned the developers another $500,000 for marketing and is now suing to get most of that money back.
In a notice of action filed with the Supreme Court of Nova Scotia in March, ACOA claimed it is owed more than $433,000.