Toronto Concord Sky | 299m | 85s | Concord Adex | a—A

Cresford built the Casa1-3 and Vox Condos so this building is bound to be similar in stature. Glad to see Yonge Street is being cleaned up
 
This one isn't in receivership

I was mistaken.

That said, I still find it very, very, unlikely that the Cresford team will be responsible for seeing YSL through. It will almost certainly be a different developer who takes over.
 
Considering that they've packed up all the equipment and abandoned the site, it seems unlikely that they're going to build it. And if they had to choose just one of their four projects to build, why this one?
 
Considering that they've packed up all the equipment and abandoned the site, it seems unlikely that they're going to build it. And if they had to choose just one of their four projects to build, why this one?
This is not financed by the same people so they could not force this one into receivership, as every project is a separate corporation if they have the financing in place and they have not broken any covenants of their agreement then they can still build it, only time will tell what will happen.
 
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This is not financed by the same people so they could not force this one into receivership . . . then they can still build it, only time will tell what will happen.

No they cannot still build it if they lack the money to pay the constructors and other consultants such as architects / construction admin. There are liens against the properties.
 
Has there been a story on the news portion of Urban Toronto about this project and Cresford yet?
We are not big enough to do investigative stories of this type. You need reporters who specialize in legal matters to pull it off properly, so the mainstream media is best to tackle such matters.

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Considering that they've packed up all the equipment and abandoned the site, it seems unlikely that they're going to build it. And if they had to choose just one of their four projects to build, why this one?
According to some of the documents, apparently they wanted to build out YSL to help finance their other projects as only YSL was still profitable. Plus like thaivic said, there were other investors involved.
 

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