Uncategorized

Clover Condos at Yonge and Wellesley expected to be sold to Concord Pacific — buyers worried they will have to pay more to keep their units

The Clover Condos project at Yonge and Wellesley in Toronto is expected to be sold to another developer, leaving hundreds of frustrated buyers wondering whether they can afford to buy back the units they contracted to purchase as far back as 2016. Although a written order has not yet been issued, an Ontario Superior Court gave Concord Pacific until midday...

Uncategorized

Cresford condo sites move toward potential sale, purchasers face uncertainty

Cresford condo sites move toward potential sale, purchasers face uncertainty Months after three major Cresford condominium projects entered receivership, the process is underway to potentially sell the troubled developer’s sites. Last week, PricewaterhouseCoopers (PwC), the appointed receiver of the luxury new construction projects, filed a report with the Ontario Superior Court of Justice with a motion requesting the approval for...

Uncategorized

Mortgage rates will remain at historic lows until 2022: BMO

Mortgage rates will remain at historic lows until 2022: BMO Sean MacKay May 15, 2020 With anxiety mounting throughout March as the economic impacts of the COVID-19 pandemic intensified, Canada’s central bank took swift action to slash interest rates at several points during the month. The cut announced by the Bank of Canada on March 27th meant that the overnight rate — which...

Uncategorized

COVID 19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living

COVID 19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living By Giuseppe Valiante – THE CANADIAN PRESS On May 15, 2020 MONTREAL – The densely populated slums of Montreal’s Griffintown were the subject of a famous 1897 study by businessman and philanthropist Herbert Ames, whose work on the disease-ridden tenements influenced generations of urban planners on how to develop...

Uncategorized

1,805 Cresford purchasers in limbo as receivership process wears on

It’s been weeks since thousands of purchase agreements were left in the lurch as three major Toronto projects developed by Cresford entered into receivership. In late March, PricewaterhouseCoopers (PwC) was appointed as the receiver and manager of assets for three of the luxury developer’s downtown projects: The Clover on Yonge, Halo Residences and 33 Yorkville. As no firm decisions have...

SUBSCRIBE

get latest news & updates to your inbox