The builder, which called in the administrators this week, won the contract to build the three townhouses in Union Road for Zauner Construction.

But, work ceased two weeks ago with the job almost 70 per cent complete.

Garry Zauner yesterday said his staff would complete the project following discussion with the administrators, Hall Chadwick.

“They are all pre-sold and we will step in and finish them,” he said.

“We’ve got guarantees on various things we will not be giving back to Procorp and life will go on.

“It is certainly not the first time it has happened to us and, sadly, won’t be the last. The job will get finished.”

Procorp won the tender for the job ahead of four competitors.

More townhouses could be built on the block next door, based on demand for those that are being built.

Mr Zauner said Procorp’s demise was disappointing.

“The industry has obviously been pretty tough for 18 to 20 months,” he said.

“At a time when the pie should have got smaller, the number of people eating the pie was kicked up by the Building Education Revolution.

“It gave the industry an artificial stimulus in 2010 and 2011.”

Tenders have been called for several major projects, including upgrades at Wodonga and Albury hospitals and Albury TAFE.