Perhaps you now get why I prefer lot sales to house building.
There is an MLS for I assume one of the units at 2.688 million for 4000 feet.
Around the corner there is a resale on a 60 foot frontage for 1.748 with 4700 hundred built feet.
With a 900k differential, new is a tough sale.
Lots worth 70% of the value, no way. It used to be a third 20 years ago.  I would guess much less now.
The issue is when you don't sell and build in a timely fashion, you end up losing money.
TWC no doubt is losing money. 
You say they are dirty, I call it complete inept.
They will report very soon, we will see a bit more.
$2,688,000
 
Favourite

56 KLEES CRES
Aurora, Ontario L4G3W8

$1,748,000
 
Favourite

30 KNOLE HAVEN DR
Aurora, Ontario L4G6L3