urbandreamer
recession proof
21 July 2014:
- Thread starter AlvinofDiaspar
- Start date
urbandreamer
recession proof
9 August 2014
agoraflaneur
Active Member
urbandreamer
recession proof
salsa
Senior Member
Group sues city over cancelled Queen West arts hub
http://www.thestar.com/entertainmen...-city-over-cancelled-queen-west-arts-hub.html
http://www.thestar.com/entertainmen...-city-over-cancelled-queen-west-arts-hub.html
rdaner
Senior Member
Sad to see the above news. I wonder if MOCCA or a City Museum or even the interesting HUMITAS idea are being considered. Whatever happens I hope that the original participants find an acceptable facility in a timely manner!
Jonny5
Senior Member
Double homicide in the building early this morning.
As reported by CBC, a resident of the neighbouring unit said there was a party that had been going on "for three days" with "people coming and going" at all hours.
A unit on the same floor as mine in my old condo (One Cole in Regent Park) had this issue. It had two early-20's male occupants, steroidally muscular, that were rarely seen by anyone. It was like they were often not there for weeks at a time. But about once every month there would be some kind of wild party that would last for days. Thankfully they were three units separated from mine, but inevitably the party would spill into the hallway at some point in the night and people would be yapping or even smoking.
One night about 3am there was a crazy screaming match, and I was scared about what was happening. There were several people starting a fight, but it moved into the stairwell and I don't know what happened next.
They were obviously using, and possibly selling coke, or MDMA, or something similar to continuously party that long.
The kicker is the building security never seemed to do anything about it other than log complaints in their notebook. They didn't want to intervene, and I know the neighbour called the cops on two occasions, but it took them hours to arrive, by which time people had left for the night (morning) or everyone had passed out and no one answered the door.
As reported by CBC, a resident of the neighbouring unit said there was a party that had been going on "for three days" with "people coming and going" at all hours.
A unit on the same floor as mine in my old condo (One Cole in Regent Park) had this issue. It had two early-20's male occupants, steroidally muscular, that were rarely seen by anyone. It was like they were often not there for weeks at a time. But about once every month there would be some kind of wild party that would last for days. Thankfully they were three units separated from mine, but inevitably the party would spill into the hallway at some point in the night and people would be yapping or even smoking.
One night about 3am there was a crazy screaming match, and I was scared about what was happening. There were several people starting a fight, but it moved into the stairwell and I don't know what happened next.
They were obviously using, and possibly selling coke, or MDMA, or something similar to continuously party that long.
The kicker is the building security never seemed to do anything about it other than log complaints in their notebook. They didn't want to intervene, and I know the neighbour called the cops on two occasions, but it took them hours to arrive, by which time people had left for the night (morning) or everyone had passed out and no one answered the door.
bilked
Senior Member
urbandreamer
recession proof
Oh hilarious watching the streetcar tourists point and gawk as they rode by this building today--will resale values be affected by the gangstas in da hood?
I'm not clear if any suites at Edge remain to be affected by this announcement, but just in case…
URBANCORP ANNOUNCES RESTRUCTURING PROPOSAL
TORONTO, April 22, 2016 - Urbancorp announced today that five of its subsidiaries, together with the Urbancorp Group and management company (Urbancorp Toronto Management Inc.), Urbancorp Downsview Park Developments Inc., Urbancorp (St. Clair Village) Inc., Urbancorp (Lawrence) Inc., Urbancorp (Mallow) Inc., Urbancorp (Patricia) Inc., have initiated restructuring proceedings under the Bankruptcy and Insolvency Act (Canada).
“We determined, after much consideration and consultation, that a Court-supervised process is the best way to deal with current cash flow issues,” said Alan Saskin, Urbancorp CEO.
The process is intended to provide the companies with a stabilized environment in which to manage their affairs. The companies will follow a restructuring plan, including seeking Court approval of a sale process for certain of their assets. This will support efforts to maximize real estate values for the benefit of creditors and other stakeholders, in an orderly manner.
Mr. Saskin said, “This will allow us to reduce debt in an efficient manner while continuing to focus on our core business. Urbancorp has delivered 1,028 homes in the past two years and currently has 1,058 additional homes under construction. The Court process is intended to ensure that, with our partners, we will be delivering these homes in the next two years.”
The filing companies will work closely with the proposal trustee, KSV Kofman Inc. to stabilize operations, preserve and protect asset value for stakeholders and pursue the sale process.
Additional information will be available on the proposal Trustee’s website: http://www.ksvadvisory.com/insolvency-cases-2/urbancorp/
URBANCORP ANNOUNCES RESTRUCTURING PROPOSAL
TORONTO, April 22, 2016 - Urbancorp announced today that five of its subsidiaries, together with the Urbancorp Group and management company (Urbancorp Toronto Management Inc.), Urbancorp Downsview Park Developments Inc., Urbancorp (St. Clair Village) Inc., Urbancorp (Lawrence) Inc., Urbancorp (Mallow) Inc., Urbancorp (Patricia) Inc., have initiated restructuring proceedings under the Bankruptcy and Insolvency Act (Canada).
“We determined, after much consideration and consultation, that a Court-supervised process is the best way to deal with current cash flow issues,” said Alan Saskin, Urbancorp CEO.
The process is intended to provide the companies with a stabilized environment in which to manage their affairs. The companies will follow a restructuring plan, including seeking Court approval of a sale process for certain of their assets. This will support efforts to maximize real estate values for the benefit of creditors and other stakeholders, in an orderly manner.
Mr. Saskin said, “This will allow us to reduce debt in an efficient manner while continuing to focus on our core business. Urbancorp has delivered 1,028 homes in the past two years and currently has 1,058 additional homes under construction. The Court process is intended to ensure that, with our partners, we will be delivering these homes in the next two years.”
The filing companies will work closely with the proposal trustee, KSV Kofman Inc. to stabilize operations, preserve and protect asset value for stakeholders and pursue the sale process.
Additional information will be available on the proposal Trustee’s website: http://www.ksvadvisory.com/insolvency-cases-2/urbancorp/
innsertnamehere
Superstar
The building is fully occupied, but not completed. Lots of smaller stuff isn't done, and there haven't been contractors in the building for nearly a year. Urbancorp has largely abandoned the building from my understanding.
At this City Council meeting, they approved looking for more community groups than just arts-related groups to fill the six community spaces in the podium.
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innsertnamehere
Superstar
I noticed a couple of weeks ago when I went by that the unfinished space between this building and the new park has a new layer of gravel down on it, while before it was just soil and construction crap. I believe long term this is supposed to be a vehicle pick up drop off for the condo, but it doesn't appear as if that will be happening any time soon.
