Toronto 3070 Ellesmere | 89m | 26s | Podium | Arcadis

Amna said:
I heard future of this project is not clear? Builder is not even responding to the sales agents ? Any future update for this project ?
Click to expand...

Wondering the same. It sold out in a week in 2014 and although it seemed like they might be going to start a few months back there has been no action at all on site.
 
I was curious about what was going on with this project, and I found an article from The Tyee published in March:

Condos, Canola, Harper, Trudeau: Questions Swirl Around ‘China-focused’ Investor

Relevant quote:
Central Park Ajax isn’t the only development of LeMine’s that apparently has stalled. The company’s other project, The Academy Condos in Scarborough, was celebrated by Toronto media in 2014 when it was announced. LeMine’s website boasts the presale units were sold out in a matter of weeks.

But according to the City of Toronto, the initial site plan has yet to be approved and no progress has been made in that regard.

“Typically, the site plan application will need to be approved first before building permits are issued,” said Toronto city hall spokesperson Bruce Hawkins in an email. “A site plan approval contains a set of conditions that have to be fulfilled, where the applicant would generally have two years to fulfil conditions. The time period may however be extended.”

The time period was not extended and the building permit was not issued for The Academy Condos, he said.

Nevertheless, LeMine’s website has posted a 2016 photo of Liu and others, including the former mayor of St. Catherines, Ont., Brian McMullin, at a groundbreaking ceremony for the development.

A building permit isn’t needed to stick a shovel in the ground on property you own, said Hawkins, but the project still has no building permit.
Click to expand...
 
Not to bring an old job up, but I got this in an email today.

3070 Ellesmere Developments, an Ontario corporation that owns a vacant parcel of land municipally known as 3070 Ellesmere Road, Scarborough, Ontario, was placed in receivership on September 13 on application by 2478888 Ontario Inc., owed approximately $6.6 million. On August 20, the company filed an NOI and subsequently served materials seeking, among other things: the appointment of a Chief Restructuring Advisor, the appointment of a sales process advisor and the approval of a stalking horse purchase agreement. The lender opposed this motion on the basis that it was in direct contravention of its agreement with the debtor. It also took issue with the anticipated costs of the debtor-driven proceedings, arguing that a Chief Restructuring Advisor, a sales process advisor and a proposal trustee are not all required to conduct a sale process for a vacant parcel of land that a receiver alone could run at a significantly lower cost in a substantially similar timeline. RSM was appointed receiver. Counsel is TGF for the applicant and Cassels Brock for the company.
 
This is now a rental. Architect is IBI:

Development Applications

City Planning COA Application Information Center
app.toronto.ca

1613613206960.png
 
There are some new updates in the database. The overall height changed from 89.85 m to 89.00m. The overall total unit count changed from 265 units to 246 units. Finally, the total parking space changed from 200 parking to 185 parking.
 
You must log in or register to post here.

Back
Top