Tim MacDonald
Senior Member
Oops. my little one hit Post Reply a little early 
Toronto Grand Central Mimico | ?m | 37s | VANDYK | Kohn
- Thread starter Midtown Urbanist
- Start date
Tim MacDonald
Senior Member
I wonder when and to where the cell tower is will be relocated.
apmYYZ
New Member
I hope they also have plans to improve some of the infrastructure in the area. Unfortunately, the majority of residents in the area drive and with no walkable TTC station or bus loop in the area; thousands of people coming in and out of a two lane Royal York Road is giving me pre-anxiety for the area.
torontowest91
Active Member
shocked by how much this area is going to change!
The only planned infrastructure changes are to increase GO service with electrification of the Lakeshore West line in the coming years, add Park Lawn GO station and move the Humber Loop there, and connect up the two pieces of Legion Road under the rail corridor.
42
Kaoskreator
New Member
If this project ends up anything like their other projects, your 4/5 year timeline will likely be 8-10 years.. Vandyk has been trash. Sorry to anybody that has purchased here.
A Torontonian Now
Senior Member
The sales centre, today:
xy3
Active Member
It's dead, Jim.
Tim MacDonald
Senior Member
May 14th. Sure looks stalled - at least for The Buckingham.
SRAMP
Active Member
https://www.cbc.ca/news/canada/toronto/preconstruction-project-delay-brampton-1.7000430
Article about Brampton Townhome project by the same developer (Vandyk Properties). Now they have so much debt and lawsuits against the project
Article about Brampton Townhome project by the same developer (Vandyk Properties). Now they have so much debt and lawsuits against the project
Last edited:
SRAMP
Active Member
Another article about Vandyk.
www.theglobeandmail.com
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
just east of the creek
Active Member
As this article is paywalled currently, here are some notes from the article. There are apparently (according to the article and credit reports) current liens of $800,000 on Grand Central Mimico, The Backyard Condos in Etobicoke - $12 million allegedly owing on this unfinished project, Uptowns at Heart - $9 million in construction liens. Plus multiples of pre-construction sold and uncompleted units. Plus financing loans - $166 million on Mimico, and three sperate loans on the Uptown site - $45.7 million, $68.7 million and $140 million. Messy, messy, messy.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
simplmind02
New Member
They paid around 30million for the small pie shaped lot next to the cemetery and GO station, which has existing foundations and P levels from previous owner..so not surprised to see they have issues with $. Overextended/too ambitious
GTAcondo
New Member
Vandyk Properties Facing Receivership Over $203M Debt
storeys.com
Vandyk Properties Facing Receivership Over $203M Debt
Real estate developer Vandyk Properties is staring down the barrel of a receivership as lenders seek to recover more than $203M owed in relation to a number of development projects.KingSett Mortgage Corporation and Dorr Capital Corporation filed an application on Monday requesting that a...
storeys.com
SRAMP
Active Member
Their website is suspended and google says their business is permanently closed.
