Haven Developments began preselling units at its proposed Six25BV building more than three years ago.A Toronto developer is taking the unusual step of seeking feedback and co-operation from its customers as it tries to avoid being the latest to cancel a condominium project.
The letters from Haven Developments, a Toronto firm with a short track record but multiple current projects, also contained an urgent warning and appeal. According to Paolo Abate, Haven’s chief executive, it’s too soon to say whether the building can avoid cancellation.
this is pure --------------- Tom Foolery
Six25BV was initially marketed to buyers in March, 2016, and units sold for about $615 a square foot, according to data from Urbanation Inc. By contrast, projects in the GTA that have begun presales in the past six months are typically selling for more than $1,000 a square foot