Toronto IMMIX | 131.06m | 38s | QuadReal | a—A

[Yegger]

the clocktower is going to look so silly tacked onto this project,

 

[Towered]

the clocktower is going to look so silly tacked onto this project,

I guess it should have been demolished then?

 

[AlvinofDiaspar]

the clocktower is going to look so silly tacked onto this project,

No worse than the last 50+ years - and probably in a considerably better way going forward with the restoration.

AoD

 

[Benito]

Today.

 

[Red Mars]

Jan 13, 2020

 

[Benito]

Today.

 

[Koops65]

A zoom-in:

 

[Benito]

Today.

 

[Benito]

Today.

 

[drum118]

Feb 12

 

[AlbertC]

Former Cresford Developments president alleges ‘cash crisis’ at condo firm

SHANE DINGMAN REAL ESTATE REPORTER

The filing describes escalating construction costs for key inputs such as steel and concrete beginning in the fall of 2018. Ms. Athanasoulis said the Clover project was facing $50-million in extra costs, at the same time the Halo project faced overruns close to $45-million. The lawsuit cites a third-party review by cost consultants CB Ross that is said to show 33 Yorkville’s budget needed another $65-million. Some of those bills were paid, but others remained outstanding.

Former Cresford Developments president alleges ‘cash crisis’ at condo firm

A 33-page wrongful dismissal complaint filed on Jan. 21 by Maria Athanasoulis alleges Cresford Developments is failing to pay contractors and incurring costly delays on its projects

www.theglobeandmail.com

 

[Koops65]

 

[AlbertC]

Current condition:

Feb 22, 2020

 

[yyzguy]

Are they going to cancel this project? looks like cancellation is very likelyfor YSL and 33 Yorkville

 

[karledice]

In my opinion probably not since there is a lot of work here already started vs. the other 2 but knowing this I would personally never support and buy from Cresford

Former Cresford Developments president alleges ‘cash crisis’ at condo firm

On Jan. 30, GLF Infrastructure Inc. filed a lien against the title of YSL Residences site (383 Yonge St.) for shoring work that began in June, 2019, saying it was owed $3,746,724.19 out of a total bill of $4.576-million.

"In order to complete the Projects, Cresford must meet its obligations to lenders, contractors and other stakeholders. This requires access to funding that Cresford does not currently have,” the lawsuit claims. The four active Cresford condominium projects include: The Clover on Yonge (170 Merton St.), a 44-storey tower that has 523 units pre-sold; Halo Residences (480 Yonge St.) a 38-storey project with 414 presold units; 33 Yorkville Residences, a 41-storey tower with 1,028 presold units, and YSL Residences (383 Yonge St.), a proposed 85-storey tower that is projected to have more than 1,100 units.