I did notice the other day that the site had been cleared of buildings.
- Thread starter luxome
- Start date
BMyers
Active Member
Pretty sure I heard http://guizzetti.com/ bought the site.
Ramako
Moderator
They happen to have any relation to the Empire Guizzettis?
Cousins
Gratty
New Member
Too bad, I was hoping Sorbara would purchase the site to expand the their sharp looking single tower development immediately south of this site at 5200 Yonge.
It's also shame to lost the Hotel - this areas needs all the non-residential towers it can get.
For those who purchased in this building and are looking for your deposits back, your posts have been moved to the Real Estate thread for this building.
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cnwz: Your post is in the Real Estate thread, linked at the top of this page. Please stop posting in this thread.
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Automation Gallery
Superstar
Police investigating Toronto condo developer over reports of fraud
TORONTO – What was supposed to be a dream come true for a group of condo buyers has turned into months of anguish as they wait for answers as to what happened to an up-and-coming condo building in North York.
he condo development located at Yonge and Finch was supposed to feature a hotel, retail, and residential space. But now prospective buyers fear they have collectively lost millions after plans by the developer fell through this past January.
Toronto police confirm their fraud unit is looking into “multiple complaints†against Centrust Development Group amid reports the company defrauded buyers out of their down payments on units.
Thomas Ma and his wife Sherrie Huang bought a unit with the hope of opening a store in the development at 5220 Yonge St.
“It’s very ridiculous,†said Huang. “We have not had a chance to reach the developer since the end of last year.â€
The couple put a down payment of $40,000 on a unit but say they have been desperately trying to reach the developer, Sup (Joseph) Lee, of Centrust Development to get their money back.
More...http://globalnews.ca/news/1523793/p...oronto-condo-developer-over-reports-of-fraud/
TORONTO – What was supposed to be a dream come true for a group of condo buyers has turned into months of anguish as they wait for answers as to what happened to an up-and-coming condo building in North York.
he condo development located at Yonge and Finch was supposed to feature a hotel, retail, and residential space. But now prospective buyers fear they have collectively lost millions after plans by the developer fell through this past January.
Toronto police confirm their fraud unit is looking into “multiple complaints†against Centrust Development Group amid reports the company defrauded buyers out of their down payments on units.
Thomas Ma and his wife Sherrie Huang bought a unit with the hope of opening a store in the development at 5220 Yonge St.
“It’s very ridiculous,†said Huang. “We have not had a chance to reach the developer since the end of last year.â€
The couple put a down payment of $40,000 on a unit but say they have been desperately trying to reach the developer, Sup (Joseph) Lee, of Centrust Development to get their money back.
More...http://globalnews.ca/news/1523793/p...oronto-condo-developer-over-reports-of-fraud/
ProjectEnd
Superstar
The end of that report is misleading. The reporter states that another building is coming to the site when it's actually the assembly to the south (Beacon Condos - Wallman / Sorbara).
Benito
Senior Member
That is good news, but it doesn't sound very promising that the purchasers will be getting their full deposits back.
sunnyraytoronto
Senior Member
Anyone know whats going on at this site? For the last month or so there have been workers onsite and look what they did,.... I know there was some condo buyers/investors who "got hosed" and "took a bath" here,... but this is ridiculous! There are about 30 to 40 of these relatively large water pipe sticking out of the ground,... all lined up about 5 - 6 deep in 6 to 7 rows,... relatively evenly spaced apart from each other. What are they for????
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Carter
Active Member
They could be cleaning up the soil from the old speedy shop. Or is their a under ground river that runs somewhere close to that site?
sunnyraytoronto
Senior Member
Speedy muffler shop was at south end of this site,.... same water pipe work on Cuisine of India and Colour Your World site too,... at north end, this site include a few small retail building with Fergie bar (?) that are still standing but I didn't check their back to see if water pipe was erected there.
That river theory is interest,.... to the west is Dempsey Park and northwest is a little trail that leads to Edithvale Park, On the other side of Yonge, to the southeast on the east side of Doris is "the Pot trail" (as the high school kids from Earl Haig calls it - obvious reason!) which seems to have a natural drainage system,.... hmmmm,...
That river theory is interest,.... to the west is Dempsey Park and northwest is a little trail that leads to Edithvale Park, On the other side of Yonge, to the southeast on the east side of Doris is "the Pot trail" (as the high school kids from Earl Haig calls it - obvious reason!) which seems to have a natural drainage system,.... hmmmm,...
moon2n
Active Member
Toronto lawyer faces 426 charges in North York condo fraud
A Toronto lawyer faces more charges in a North York condo scam from last summer.
Meerai Cho, 63, was arrested in August of 2014 and charged with several offences for the condo project that didn’t get off the ground, and kept nearly $15 million in investor deposits.
The number of charges have increased to 426 from 75 — the charges relate to 142 complainants.
She faces 142 charges of fraud over $5000, 142 charges of possession of property obtained by crime over $5000 and another 142 charges of breach of trust.
updated: The court case is scheduled for April 9.
In August, police raided Centrust’s former offices, where thousands of documents, including contracts, were seized as part of their investigation.
The raid followed a CityNews exclusive on Aug. 22 about Centrust, which sold pre-construction units in 2010 to at least 141 people for two towers. Individual deposits ranged anywhere from $40,000 to $700,000 for residential and commercial units.
A Toronto lawyer faces more charges in a North York condo scam from last summer.
Meerai Cho, 63, was arrested in August of 2014 and charged with several offences for the condo project that didn’t get off the ground, and kept nearly $15 million in investor deposits.
The number of charges have increased to 426 from 75 — the charges relate to 142 complainants.
She faces 142 charges of fraud over $5000, 142 charges of possession of property obtained by crime over $5000 and another 142 charges of breach of trust.
updated: The court case is scheduled for April 9.
In August, police raided Centrust’s former offices, where thousands of documents, including contracts, were seized as part of their investigation.
The raid followed a CityNews exclusive on Aug. 22 about Centrust, which sold pre-construction units in 2010 to at least 141 people for two towers. Individual deposits ranged anywhere from $40,000 to $700,000 for residential and commercial units.