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The Biggest Most Expensive Condo Construction Project in Canda went broke last week. The $1.6B project known as THE ONE went into Receivership, plagued by high leverage, soaring financing and construction costs this project has been in trouble for a couple years. But is it a sign of more to come? Yes and No. There are some home and condo builders in similar situations but very few of them and nowhere near as big projects. The vast majority of builders and developers will finish their projects.