The Capital Pointe project has been moved back with the delay of the demolition of the Plains Hotel.

Joon Kim, one of the partners who originally bought the Plains Hotel and property about five years ago, admits he is “100 per cent frustrated” with the postponement.

He says the plan was always for redevelopment.

The big hurtle came when his WestGate Development had to find a partner earlier this year.

They started the process with Bright Star seven months ago and he says it's only just been finalized.

Kim is not the only one who's frustrated at the delays.

He says six or seven people who bought condos in the new building are asking for their money back.

Edited by News Talk Radio's Chris Morin.