Toronto 327 Royal York Road | 118.5m | 35s | VANDYK | SvN

[SRAMP]

Another article about Vandyk.

Toronto builder’s projects stalled as construction woes mount

Vandyk Properties has secured hundreds of millions of dollars in loans to rapidly expand in recent years, but work on a half-dozen Vandyk projects has stalled

www.theglobeandmail.com

 

[klmx]

https://www.theglobeandmail.com/real-estate/article-receiver-appointed-to-five-more-toronto-area-housing-projects/

 

[Amare]

Well its going to be fun watching this site sit dormancy again for another X years, what a joke.

 

[vandykdeets]

I summarized the receivership reports of Vandyk developments here

Vandyk projects enter receivership on MCAP, Kingsett and Otera loans. Empire communities sets its sights on acquiring distressed properties.

Slightly more details than what a news item can carry

open.substack.com

 

[UtakataNoAnnex]

...goodness, that's quite the dine then dash bill they racked up there.

 

[AlbertC]

I summarized the receivership reports of Vandyk developments here

Vandyk projects enter receivership on MCAP, Kingsett and Otera loans. Empire communities sets its sights on acquiring distressed properties.

Slightly more details than what a news item can carry

open.substack.com

View attachment 537639

Username checks out!

 

[Tim MacDonald]

January 1st, 2024

 

[SRAMP]

January 1st, 2024
View attachment 539662

Does that mean construction under progress? I read that this project is currently under receivership

 

[Tim MacDonald]

No. That site hasn't been under construction for years. That site is cursed with now two bankrupt developers.

 

[AlbertC]

Third time can only be the charm right....

 

[maxt797]

No. That site hasn't been under construction for years. That site is cursed with now two bankrupt developers.

It must be because of that church next door someone burned... Just saying

 

[vandykdeets]

One more. This is one is about their advisor.

Vandyk - The Ravine receivership: Kingsett and Frank Margani

The Ravine project

open.substack.com

 

[Northern Light]

Area residents unhappy at the state of the cursed hole in the ground, and the never improved Mimico GO Stn; plus Mx terminated its agreement for the new infra with Vandyk:

https://www.cbc.ca/news/canada/toronto/mimico-go-redevelopment-cancelled-1.7123972

 

[UtakataNoAnnex]

...and government seems shirk in being held in account here, since they the ones that signed that deal...save from vague promises they'll fix it in the future. What a mess. /sigh

 

[klmx]

Someone seems to be repairing all the damaged shoring at the moment. Has someone bought it, or is the receiver just preparing it for market?