Eight potential improvement properties within the Larger Toronto, Hamilton and Niagara areas are on the market by CBRE and Colliers on behalf of KSV Restructuring, the court-appointed receiver and supervisor of Go-To Developments Holdings.
Seven of the properties are being marketed by CBRE’s Land Companies Group.
A separate high-density downtown Toronto improvement website from Go-To’s portfolio can also be listed on the market by Colliers Macaulay Nicolls Inc.
Obtainable for buy collectively or individually, the CBRE portfolio consists of a wide range of improvement alternatives, starting from permitted medium-density websites to strategically situated Whitebelt land, which is strategically positioned subsequent to the prevailing city boundary.
Go-To Developments raised virtually $80 million from about 85 Ontario traders by promoting restricted partnerships for 9 Go-To actual property initiatives, in keeping with a Dec. 6, 2021, court docket affidavit by senior forensic accountant Stephanie Collins of the Ontario Securities Fee’s enforcement department.
Excessive-density downtown Toronto website
The agency was based by Oscar Furtado, who describes himself on the corporate’s web site as “a senior govt with greater than 30 years of expertise in more and more senior and influential roles inside the actual property and monetary companies business.”
The Go-To property have been positioned in receivership on Dec. 10 and the sale course of permitted by the court docket on Feb. 9.
The property being listed by Colliers is called “Go-To Spadina-Adelaide Sq..” On the corporate’s web site it’s recognized as being on the southeast nook of Spadina Avenue and Adelaide Road West, which Go-To says it acquired in April 2019.
A website plan software was submitted in June 2020, the agency says, for a 50-storey mixed-use high-rise.
The bid deadline for this property is April 7.
KSV Restructuring declined to be interviewed by RENX, however the newest paperwork filed on its web site point out CBRE is aiming for a bid cut-off date in early to mid-April for the properties it’s advertising and marketing.
Properties being marketed by CBRE
There are seven initiatives within the portfolio up on the market by CBRE. They’re:
– 19 Beard Pl. in St. Catharines: The three.4-acre website is permitted for a six-storey, 38,696-square-foot residential condominium constructing with 44 items and 55 parking areas. Below present medium-density residential zoning, permitted makes use of embody townhouse items, a long-term care facility, home-based companies, single indifferent dwellings, condominium and semi-detached dwellings. The Go-To web site famous the event website is situated minutes away from downtown St. Catharines and “is strategically situated to maximise residential improvement worth.”
– 185-215 Main Mackenzie Dr. E. in Richmond Hill: The 1.1-acre website has an software underneath overview to develop 30 three-storey townhouse items with 64 parking areas. The 18-foot townhouse items could be as much as 1,803 sq. toes. CBRE notes a scarcity of stock within the space has allowed builders to command sturdy pricing, with present 20-foot townhouse initiatives within the space acquiring as much as $1.4 million. “The location supplies a big alternative for a townhouse improvement inside a extremely in demand node of Richmond Hill,” CBRE notes.
– 2334 St. Paul Ave. in Niagara Falls: The three.4-acre website supplies the chance to construct a 13-storey, 219,378-square-foot condominium with 123 items. Parking shall be supplied with 15 floor areas and 160 underground areas. The event idea proposes 114,872 sq. toes of landscaped open house on the location.
– 4210-4248 Lyons Creek Rd. in Niagara Falls: The two.6-acre website has been rezoned for a three- to four-storey, 58,684-square-foot condominium constructing with 63 items and 6 townhouse items of three storeys. The deliberate undertaking would even have 91 floor parking spots and 56,710 sq. toes of landscaped house.
– 35.8 acres of residential land at 4897-4987 Aurora Rd. within the Township of Whitchurch-Stouffville: A 3.1-acre website at 4951 Aurora Rd. may be acquired as both a single lot to construct a brand new home or for a future improvement as a part of a land meeting. The potential meeting, on behalf of separate house owners, is at 4897, 4923, 4963 and 4987 Aurora Rd. and totals 32.7 acres. Each 4923 and 4987 Aurora Rd. have homes with tenants, whereas 4897 and 4963 Aurora Rd. are vacant. Just like 4951 Aurora Rd., the properties could also be acquired to construct a brand new home or for the prevailing homes on website, or for future improvement. If purchased as an meeting, CBRE notes there may be an present improvement software for a residential improvement of 36 single-detached tons with personal water and sewage companies.
– 7386 and 7400 Islington Ave. in Vaughan: There may be an software with the Metropolis of Vaughan to develop 43 three-storey townhouse items with three or four-bedrooms and personal backyards on a 4.4-acre website at 7386 Islington. On behalf of a separate proprietor, 7400 Islington, which is 1.4 acres, could also be acquired by itself or as a part of a future improvement alternative with 7386 Islington.
– 31.6 acres of Whitebelt lands alongside Higher Centennial Parkway and Highland Street East within the Stoney Creek neighborhood of Hamilton: In accordance with CBRE, “the location presents a really perfect long-term funding alternative for Whitebelt land. The property will capitalize on any new progress via a boundary growth sooner or later.”
The Go-To Developments web site famous “land within the city boundary is valued considerably greater than land outdoors the city boundary. As soon as land outdoors the city boundary is introduced into the city boundary, house owners can anticipate the land worth to extend considerably.”