Union Margo (Aspen Ridge) - Real Estate -

toronto647 said:
I have heard some buyers may be teaming up for a large scale class action law suit involving the media and complaining publicly to politicians. In essence to tarnish Aspen Ridge's image and settle it for more than what Aspen Ridge is offering now.
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Do you know how we can join them?
 
communication as of July 2022 with City of Markham

The applications to amend the Official Plan, Zoning By-law and for Site Plan approval for a 20 storey apartment building at the SW corner of Bur Oak and Markham Road, submitted by Aspen Ridge have not advanced for a Council decision as the City has been undertaking a Secondary Plan study for the area. Please note that Aspen Ridge does not have permission for the proposed development therefore, selling any units which are not permitted is at their own risk. City staff have advised that active applications within the Markham Road/ Mount Joy Secondary Plan area will only advance after the land use concept plan is endorsed by Development Services Committee (which is tentatively targeted for end of this year) and when/if the proposed development conforms to the endorsed land use concept plan. You should also be advised that recently, Aspen Ridge has requested that the previously proposed 20 storey building be increased to 30 storeys. As a result, Aspen Ridge will be required to make a comprehensive revised application submission to increase the height of the building. Staff will need to undertake a review of the revised materials as well as schedule a statutory Public Meeting for the revised proposal before bringing a report forward for a Council decision. A full building permit can only be applied for after the applications have been approved and all necessary agreements are in place with the City.
 
This forum is very quite and there are no info available in the internet regarding class action lawsuit. Except 'Globe and mail' no other mainstream media brought this to light. Scary.
 
Nathan75 said:
This forum is very quite and there are no info available in the internet regarding class action lawsuit. Except 'Globe and mail' no other mainstream media brought this to light. Scary.
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Do you think most of them accepted the “additional benefit”, and agreed not to mention about this?
 
Nathan75 said:
This forum is very quite and there are no info available in the internet regarding class action lawsuit. Except 'Globe and mail' no other mainstream media brought this to light. Scary.
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There is a period where one sues which is called a "limitation period" which in these cases usually lasts 2 years. Usually claims for this nature are not filed in court closer to the end of limitation period hence you haven't heard anything and likely won't for at least a year if not longer. This is a long battle ahead for the class action law suit folks. High Risk / High Reward. Only like 2% of cases end up going to trial so likely it will be settled out of court and the investors will likely make a decent chunk.
 
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