Dundas West Development Site In Receivership Hits The Market

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Zakiya is a staff writer with STOREYS. She has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.

The site hit the market less than 24 hours ago, and has zoning approvals in place to to permit a 22-storey mixed-use building with up to 265 rental units.in March have continued to move along, with the Ontario courts approving the sale and investment solicitation process just last month. This was the final step before the property atless than 24 hours ago, and has zoning approvals in place to to permit a 22-storey, 242,187-sq.-ft mixed-use building with up to 265 residential rental units.

That request was not immediately obliged. In the months that followed, a receivership order was “held in abeyance” to allow the debtors the opportunity to refinance or sell the property, according to athat was prepared more recently by public accounting, tax and advisory firm, BDO. The debtors were ultimately unable to secure a sale.of the Assistant Vice President of Mortgage Investments and Joint Ventures for Centurion Bob Vavaroutsos put the final nail in the coffin for the Dundas West site.

 

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