Prospective homeowners who purchased one of the swanky townhomes under construction in Lakeview will have to start house-hunting all over again.

Dunsire Developments, the Burlington-based company behind The Anchors at Lakeview project, has pulled the plug on the 97-unit townhouse development at the corner of Lakeshore Road East and Ogden Avenue.

“Delays in receiving necessary municipal permits, unparalleled spikes in both material costs and labour fees, and a lengthy work stoppage by trade unions last year, have caused our lending partners to begin power of sale proceedings,” reads a statement from company spokesperson Danny Roth.

Power of sale proceedings allows the lenders to sell off the property to satisfy the outstanding debt.