Pemberton's Hill Academy School Project has been put on indefinite hold.
A press release sent out on Friday said the project has been terminated "due to an inability of the parties involved to reach a contractual agreement."
"It is regrettable that the Hill Canada Inc. has determined that they cannot move forward at this time," Sunstone Ridge president Neil Colquhoun said in the release.
"While many communities send a clear message that they're open for business, the Village of Pemberton has some work to do in fostering collaborative relationships that would create a sustainable economic base for the areas... but we believe passionately in Pemberton and will continue to bring forward opportunities that make the best use of our land and provide direct benefits to the community."
The Sunstone Development Group owns the land the Hill Academy Campus was to be built on.
In October of 2013, Sunstone signed a memorandum of understanding between itself, the Village of Pemberton and Hill Canada Inc.
In June of this year, Pemberton residents voted overwhelmingly against the authorization of a $4.8 million loan to build a multi-sport recreation complex, of which the Hill Academy would have been an anchor tenant.
Following that referendum, the Hill Academy had said it would pursue plans for a facility of its own.
Pick up Thursday's Pique for the full story.