Mississauga Highlight of Mississauga | ?m | 14s | Hazelton Dev | Arcadis

GPetra said:
This information is not correct and misleading and I hope not in purpose. Hazelton Development Corporation remains the builder to complete the project. Nothing to do with the HDC construction company in London. HDC is most likely abbreviation from Hazelton Development Corporation and used to avoid the searching results that Hazelton filed for insolvency and CCAA protection in April 2022 and screwed up pre-sale purchasers. As of January 2023, deposits still have not been refunded after almost 5 years of waiting.
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My info came from construction news and don't have the link to it, but this is what I found under 2 minute search to show its not miss leading.

Highlight Condos, Lofts & Towns is located in South Mississauga. This project has a great walkscore of 81/100 and has close access to Highway 403,401,427 and the QEW for transportation access. Dixie GO Station is a 7-minute drive away for GO train access. Square One Shopping Centre is minutes away for great shopping and outdoor events at the square. Sheridan College is a 9-minute drive and University of Toronto Mississauga Campus is a 15-minute drive for staff and students attending these institutions. Nearby parks and greenspaces include Dixie Woods Park, Golden Orchard Park and Jaycee Park.

HDC Development Corporation is a London based developer specializing in real-estate development and sales in London, Middlesex county and the surrounding areas. HDC uses their knowledge, skills and expertise to create affordable homes and influence the landscape of Southern Ontario’s finest communities. They seek to bring affordable housing that is built to last throughout the generations and help create memories for the families living in them.

The bond holders have a number of options when a company becomes insolvency or bankruptcy to finished the project. In some cases, the company continue to build the project under supervision, hires another contractor or sold to someone else. The owner of said company is on the hock for cost over ride to complete the project. The bond holder tries to get someone to finished the project as cheap as possible without loosing money from the bond to the point the said company does finished the project that will most likely have a late date than plan for.
 
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drum118 said:
My info came from construction news and don't have the link to it, but this is what I found under 2 minute search to show its not miss leading.

Highlight Condos, Lofts & Towns is located in South Mississauga. This project has a great walkscore of 81/100 and has close access to Highway 403,401,427 and the QEW for transportation access. Dixie GO Station is a 7-minute drive away for GO train access. Square One Shopping Centre is minutes away for great shopping and outdoor events at the square. Sheridan College is a 9-minute drive and University of Toronto Mississauga Campus is a 15-minute drive for staff and students attending these institutions. Nearby parks and greenspaces include Dixie Woods Park, Golden Orchard Park and Jaycee Park.

HDC Development Corporation is a London based developer specializing in real-estate development and sales in London, Middlesex county and the surrounding areas. HDC uses their knowledge, skills and expertise to create affordable homes and influence the landscape of Southern Ontario’s finest communities. They seek to bring affordable housing that is built to last throughout the generations and help create memories for the families living in them.
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This comes from a realtor's website the source is unreliable, not correct and needs to be reported for misleading. (https://www.condosdeal.com/highlight-condos-lofts-towns-in-mississauga/)
You can find a trusted information and CCAA proceeding here:
https://ised-isde.canada.ca/site/of...t-corporation-highlight-mississauga-guildwood
Also here: https://highlightmississauga.com/
 
The website highlightmississauga.com that you mentioned in your last post says hdc development corporation so nothing @drum118 said is incorrect.
 
GPetra said:
This comes from a realtor's website the source is unreliable, not correct and needs to be reported for misleading. (https://www.condosdeal.com/highlight-condos-lofts-towns-in-mississauga/)
You can find a trusted information and CCAA proceeding here:
https://ised-isde.canada.ca/site/of...t-corporation-highlight-mississauga-guildwood
Also here: https://highlightmississauga.com/
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That is what I found with a quick search today, but my first posting came from reliable source dealing with the construction industries in the first place.

Been involved with a few companies where the bond holder took over the project to understand what happen in the first place.
 
Anastasia said:
If you scroll down to the bottom of that website it refers to HDC Developments Corporation.
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Good point and thanks, because this their new website. It will be reporting this to HCRA as well. I want to prevent more people from being screwed up with misleading information. HCD Corporation in London is a company that has nothing to do with Hazelton and it is a government subsidized housing construction company.
 
drum118 said:
That is what I found with a quick search today, but my first posting came from reliable source dealing with the construction industries in the first place.

Been involved with a few companies where the bond holder took over the project to understand what happen in the first place.
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www.grantthornton.ca

Creditor updates

Updates for creditors, limited partners, investors and shareholders.
www.grantthornton.ca www.grantthornton.ca

Read the CCAA reports, please and search for Hazelton files under "H"
 
You keep talking about misleading information but there is none. The developer went bankrupt, the plan of arrangement, if approved, gives prior purchasers the chance to complete the purchase at a 19percent discount to the new rate or get their deposit back. This is the deal and sadly your new reality.

Yes it sucks buying pre con and having the project blow up and I'm sorry you got sucked in on a project called "the highlight of mississauga" when clearly it isn't.
 
Tim MacDonald said:
You keep talking about misleading information but there is none. The developer went bankrupt, the plan of arrangement, if approved, gives prior purchasers the chance to complete the purchase at a 19percent discount to the new rate or get their deposit back. This is the deal and sadly your new reality.

Yes it sucks buying pre con and having the project blow up and I'm sorry you got sucked in on a project called "the highlight of mississauga" when clearly it isn't.
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Can you please read the Grant Thornton CCAA files before commenting. The Builder (Hazelton Development Corporation) has never gone bankrupt, but filed for insolvency and they are still under CCAA protection while the construction is continuing under the Monitor's surveillance.
 
Insolvency is just a synonym for bankruptcy. I did read the file - you just don't like the outcome.

This is a court monitored operation so there isn't much that can be done. What are you going to do - go for the refund or complete the purchase under new terms?
 
Tim MacDonald said:
Insolvency is just a synonym for bankruptcy. I did read the file - you just don't like the outcome.

This is a court monitored operation so there isn't much that can be done. What are you going to do - go for the refund or complete the purchase under new terms?
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That is not true. Insolvency is a state where the Corp. cannot meet debt payments on time. Bankruptcy is a legal process that happens when the entity declares he or she can no longer pay back his or her debts to creditors.
I am not arguing about the outcome. It is about incorrect information about the Builder hiding behind other names and misleading people that the Builder is different. That's all. The Builder is Hazelton Development Corporation.
 
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@interchange42 Don't know when the tower crane came down, but not there today when I shot the site
 
Nov 25
I guess this will be done next year now.
More up on my site

I guess they will paint these red as per the rendering or add flashing for it
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