I believe this sort of thing happens fairly often. It's a bit of an open secret in the precon market.
 
Undead said:
I believe this sort of thing happens fairly often. It's a bit of an open secret in the precon market.
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true ... unfortunate but it does happen

Aspen Ridge was held hostage by the City's Mount Joy Secondary Plan process too ... which I'm sure they didn't want either
 
Most recent posts have been moved to the Real Estate thread for this project, linked in the Database File box at the tip of this page.

42
 
February 5 2023

Rest In Peace MARGO 💐
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Unlike your siblings who are done
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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.
 
Yeah thanks Markham for holding / freezing all applications for 4 years while you take your sweet time to update the Mount Joy Secondary Plan ... because developments projects can stall for that long (shame you try to blame the builder "at their own risk") :mad:
 
Remember a few months back that builder in Barrie that sent out letter to their clients that had signed agreements back in fall of 2019 asking for $100K more otherwise they would lose the unit and got away with it. The signed APS means nothing to the homeowners and investors and protects the vendor. Even if you ask your lawyer they aren't experts on this and probably will charge you to read the APS which is iron clad in their favor and fully protects them from lawsuits. There has been other builders in the VMC in Vaughan that cancelled their project and a class action suit was started and after two years the outcome was in favor of the builder and then the project was re-launched by another developer.
 
Solaris said:
Yeah thanks Markham for holding / freezing all applications for 4 years while you take your sweet time to update the Mount Joy Secondary Plan ... because developments projects can stall for that long (shame you try to blame the builder "at their own risk") :mad:
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Or Aspen Ridge can honour their initial commitment and give the same units in the building they are proposing at the same price. Yes they would lose some money but they can make it back with the height of the new building. Can't fully blame the city cause Aspen Ridge was also smart for putting out unavoidable delay notices due to covid-19 when that wasn't even legit or accurate lol.
 
Solaris said:
Yeah thanks Markham for holding / freezing all applications for 4 years while you take your sweet time to update the Mount Joy Secondary Plan ... because developments projects can stall for that long (shame you try to blame the builder "at their own risk") :mad:
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While Markham does deserve some blame (the secondary plan does not seem timely at all), both Aspen Ridge and the buyers were taking quite the chance that this was going to go ahead without zoning in place.

Ultimately I feel like the real bad actor is Aspen Ridge. They took a gamble, it failed, and now they’re screwing over buyers while crying crocodile tears (they’ll build this with more units at a higher price; they’ll be totally fine) and blaming the city.
 
The situation worked in favour of Aspen Ridge. City puts permits on hold due to secondary plan and Covid hit. The developer issues unavoidable delays and sat out and didn’t Jane to do anything but cancel the project. Win win for developer as Covid and city allowing them to cancel project
 
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