Toronto Elektra Condos | 133.5m | 42s | Menkes | Giannone Petricone

Went by today and took photos.
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I wonder if the owners of Filmores just decided to exit, as this has dragged on.

I see no evidence of Menkes getting closer to actually building anything here.

The SPA shows no activity since '23.

Would be odd to force a paying tenant out if they didn't want to exit.
 
Called the front desk and they confirmed they are closing the club and hotel Jan 31st. I feel like they will end up doing a rental building for this project. There is no way that Menkes can meet sales by Q2 2026 and start construction as well.
 
The contract says that they need to secure satisfactory financing by June 3, 2027. That gives them another 18 months to sell, but given the market this may be unlikely.
 
I wonder how many units got sold. They need 70% units sold to start construction. I don’t see them actively marketing the project either
 
msule said:
Builder sent an email to brokers this morning saying that the project is not continuing. They will refund deposits and interest next week. Purchasers should receive confirmation today.
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First shoe dropping.......... took a bit longer than I thought:

Northern Light said:
No *news* here yet............but some likely in the offing.

I anticipate a change in tenure.
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^^^ That was June 18th last year.
 
UtakataNoAnnex said:
...so this place is staying open beyond January 31, 2026 then? Not that I would ever visit something like that. >.<
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Nope, Filmores is leaving its current location as scheduled.

They are, however, looking for a new spot. I'll mention to @Towered to pass along that you think the Annex would be a preferred location. ;)
 
^Er...no thanks. We have enough problems with the frat houses up here. >.<
 
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