gquest said:
Good stuff. KingSett is trying to maximize their interest, that's why the EOI with Empire didn't go through. They might be back on the table but noting concrete yet. Did you noticed Empire wasn't interested in uptowns?
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Probably due to challenges in construction.

Bottom line: Too much debt. Nearly 350 million dollars. Not sure how they are gonna extract these from Vandyk.
 
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betterdwelling.com

Toronto Real Estate Developers Have Never Had More Unsold Condos - Better Dwelling

Not even record population growth was able to help new condo sales across Greater Toronto. A report from development research firm Urbanation shows new condo sales plummeted in 2023. It was the worst year for sales since the Great Recession, but that’s not all. The rush to build has left...
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Promising for the Uptown crew that still want their condo built, no matter the time frame, with current contract still intact! I know I definitely don’t want 6+ years of lost value with Uptowns potentially falling through. 🤷‍♂️
 
I believe we should start planning how to get together and organize a demonstration to the offices of the relevant authorities to ask questions on how and when we will be getting our deposits refunded. Loosing close to 100k at this time is suicidal!
 
I guess there is no timeline from them to know us what is going on with the uptown project. At this point just give our deposit back. Market is coming back again and prices will shoot up.
 
Giz123 said:
I guess there is no timeline from them to know us what is going on with the uptown project. At this point just give our deposit back. Market is coming back again and prices will shoot up.
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It could take until April 2025 to get something firm
 
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