Canada has added tariffs to things like whiskey and maple syrup, and only from US sources. I don't believe that construction materials were included with the retaliatory measures.

Ahh thanks for clarifying OakvilleGreg1! Thought that the tariffs might cause a supply shortage and price increase, at least according to the articles linked below. Things may have changed since July -- there hasn't been much media coverage on the impact this month.


- July 10: https://globalnews.ca/news/4322602/steel-tariffs-condo-prices-canada-10k/
- July 3: https://www.thestar.com/business/re...rump-and-condo-buyers-will-pay-the-price.html
 
If a new Hilton Garden Inn is opening next door (up the 400), surely the existing one on Hwy 7 will close regardless.

But didn't the original Icona plan include for the Hilton to be demo'd and re-built at the same location?
 
Just found out letters have been received by buyers - Icona is being cancelled
 
Just found out letters have been received by buyers - Icona is being cancelled
If that's the case, it's very unfortunate. And the purchases could do nothing about that, as well as all governing bodies.
 
I wonder why this has now happened twice in VMC? Both this and Cosmos hold the record for largest project cancellations in recent history.. is there something going on in the area that is causing issues? Exceedingly difficult approvals? Overly aggressive pricing? Why are they both a few blocks apart?
 
The easy answer is both condos sold out before prices increased dramatically.

Didn't Expo sell out 5 condos in the same time span? Perhaps that developer isn't as shady.
 
I have heard that there was a restriction in the original purchase of the land by Gupta that limited development of the site to a hotel ... no condos permitted. Apparently Gupta went ahead with and obtained approvals at City of Vaughan but was unable to get the restriction lifted/waived by the previous owner that sold the site to Gupta. Gupta now using the excuse of inability ro obtain construction financing as an excuse. Don't know whether this is true but it's what I have heard.
 

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