I should have been more precise and said one additional building after phase one.
Basically, my girlfriend and I were originally supposed to buy a townhouse in Phase II. In our conversations with the developer rep on Friday, we were told that Phase II would be the last building going up for the forseeable future. There are plans for additional buildings but they are currently on hold because the overall master plan may be revised after concerns were raised (supposedly very vocally) but some local community groups. In addition, they supposedly only have permits to build two structures for the time being.
I am not sure if this information was given just because they were pressing us to buy in Phase II (we would actually like to buy at the north end of Phase III based on the master plans) but this is the information that was given to us. Sales pitch? Maybe.
For now though I'm seriously crossing my fingers because Phase III is where we would make our move.