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Insolvent Construction Site in Downtown Toronto, Ontario


A Canadian real estate developer has entered the insolvent process on May 4 with liability over CA$11.5MM. The property considered for sale is a parcel of vacant land on which the company intended to construct a condo project. It's perfectly situated in a busy street in Toronto, Ontario.



The construction site has been stalled since January 2019. In addition to the developer's defaults on the mortgage, the project site is also currently subject to an Order to Remedy Unsafe Building.



If interested in participating in the insolvency process and bid for the property, please contact manager@stonelake.capital

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