Homebuyers who have endured an agonising nearly six-year wait for their off-the-plan townhouses in Narrabundah have finally received confirmation they will get the keys to their properties within months.
New Owner Rescues Stalled Project
The new owner of the troubled residential estate, Madison Construction, has announced construction has recommenced with the goal of completing the long-delayed project. Managing Director David O'Keeffe stated the company's immediate focus is finishing the 29 units already sold at the development, formerly known as Sierra and now rebranded as Eagle Ridge at 20 Leahy Street.
The project's future was thrown into uncertainty when the original developer, Project Coordination, entered voluntary administration in March 2024, leaving the site locked up and incomplete. The collapse left an estimated $25 million owed to approximately 200 creditors.
March Move-In Target for Frustrated Buyers
Mr O'Keeffe expressed optimism that existing buyers could finally take possession of their homes by March next year. He acknowledged the difficult experience purchasers have faced and committed to not just meeting, but exceeding their expectations.
"The builder, Baden & Co, and the company are working out there six days a week to get this project completed as quickly as possible to the standard that is expected by the buyers," Mr O'Keeffe said.
Following completion of the sold units, attention will turn to the 14 remaining unsold units, with marketing expected to begin in January or February next year. The new owner wants potential buyers to see the completed, high-quality development, overcoming what he described as its "chequered history".
Complex Purchase Process Caused Further Delays
The path to resurrecting the 45-unit development proved lengthy and complicated. Madison Construction was informed in April 2025 that their purchase was successful, but the intricate receivership process delayed settlement until mid-November 2025.
Mr O'Keeffe compared the experience to "a game of snakes and ladders where you never knew whether your next move was up or down." While frustrating given the buyers' long wait, the delay provided valuable time for due diligence on the existing construction work.
This investigation revealed some issues, but confirmed that critical structural work and in-ground services were completed to a high standard, with builders thoroughly checking sewerage and stormwater lines.
With construction now actively progressing six days a week, the Narrabundah community and long-waiting buyers are finally seeing tangible progress toward the completion of a development that has been a prominent local concern for years.
