Union Margo (Aspen Ridge) - Real Estate -

toronto647 said:
Just an FYI I received an update from senior levels of Aspen Ridge that the development at Margo will proceed and there will be no cancellations as Aspen Ridge's reputation is on the line. In regards to timelines that is very fluid based on covid and city approvals.

For anyone who bought here think about it this way... you are going to grow your equity significantly more with they delay of the project so you are only winning (only if you wanted to move in or need cash asap your kind of in a weird situation) so in a way congrats to the investors here! longer the better as they say in the pre-con game
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Thank you for the info! Did they happen to say whether there will be any communication to investors or if the project will go up on the site?
 
dashcam said:
Thank you for the info! Did they happen to say whether there will be any communication to investors or if the project will go up on the site?
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The project will be built. They didn't indicate whether there would be any changes but did confirm investors will get what they paid for.... just a bit delayed. Which TBH is pretty good imo. Take the longer term equity growth. your laughing.
 
skhau said:
Still haven't see any progress yet..
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Project is indefinitely delayed... Aspen Ridge is going to do this project at a loss but everyone with purchases already don't have to worry. Aspen isn't going to back out and renegotiate contracts since it wants to keep its reputation in line. Congrats to the purchasers here. Will make a great ROI. People who actually wanted to move in... probably time to look elsewhere and assign your deal.
 
Hi, I just found this forums and new to this group. Appreciate all the info that has been sharing here. May I ask if there is any update from either the City of Markham or Aspen Ridge?
 
I got a response from City of Markham saying that they are waiting for Aspen Ridge on the resubmission based on queries sent to them. Once they receive they will send it for city council review and approval. At this timepoints, it's a wait game.
 
Nathan75 said:
I got a response from City of Markham saying that they are waiting for Aspen Ridge on the resubmission based on queries sent to them. Once they receive they will send it for city council review and approval. At this timepoints, it's a wait game.
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Thank you ,Nathan75, for the update. You are right......wait game indeed.....:rolleyes:
 
Better for the investors the project is delayed further and your equity keeps growing and the interest rates go lower by the time this projected is completed. Aspen Ridge has already said it will honour the sold price so you all are winning heavy lol
 
toronto647 said:
Better for the investors the project is delayed further and your equity keeps growing and the interest rates go lower by the time this projected is completed. Aspen Ridge has already said it will honour the sold price so you all are winning heavy lol
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That is the best scenario every owners are hoping for at the current situation. Let's cross our fingers 🤞 while waiting for further news/update from the City and Aspen Ridge.
 
I heard a rumour that Margo is probably going to get cancelled now. The City of Markham has been giving a tough time to Aspen Ridge and put the project into secondary review. I wonder if Aspen Ridge will just give the deposits back to the purchases with the required legal interest or perhaps give them preferred pricing on the revised Margo 2.0 or what will happen.

The "now under construction" signs have been there for a while yet no construction has really started.

Anyone else have any insights on this?
 
toronto647 said:
I heard a rumour that Margo is probably going to get cancelled now. The City of Markham has been giving a tough time to Aspen Ridge and put the project into secondary review. I wonder if Aspen Ridge will just give the deposits back to the purchases with the required legal interest or perhaps give them preferred pricing on the revised Margo 2.0 or what will happen.

The "now under construction" signs have been there for a while yet no construction has really started.

Anyone else have any insights on this?
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I tried calling a couple days ago and someone mentioned I have to reach out only via the email they provided. However they mention that the project will be built but it will be delayed they just don't have any updates.

I'm not sure on that rumour as I wouldn't have insight but it's just frustrating that they haven't provided any formal updates in years.
 
Aspen Ridge is sending out termination letters to all those who bought at Margo. Wonder if there will be fair compensation or a class action law suit?

I would not have expected this from Aspen Ridge TBH

Any guesses what happens?
 
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Aspen Ridge is sending out termination letters to all those who bought at Margo. Wonder if there will be fair compensation or a class action law suit?

I would not have expected this from Aspen Ridge TBH

Any guesses what happens?
 
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toronto647 said:
Aspen Ridge is sending out termination letters to all those who bought at Margo. Wonder if there will be fair compensation or a class action law suit?

I would not have expected this from Aspen Ridge TBH

Any guesses what happens?
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They have indeed sent out termination letters. What are the next steps? From the looks of it, they are giving interest on top of the principle and "additional benefits."

What else is everyone's next steps? Would love to hear if there can be a class action lawsuit against Aspen Ridge. What a way to degrade your name.
 
calcuu said:
They have indeed sent out termination letters. What are the next steps? From the looks of it, they are giving interest on top of the principle and "additional benefits."

What else is everyone's next steps? Would love to hear if there can be a class action lawsuit against Aspen Ridge. What a way to degrade your name.
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How much interest are they giving on the principle and what are these additional benefits you are referring too?

I have heard from other buyers that they may pursue a class action law suit.

In any case this hurts Aspen Ridge's reputation especially for the Crosstown Development where they plan to sell thousands of condo units and hundreds of townhomes.

Anyone else got any guesses what happens now?
 
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