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Construction of a mixed-use development in Port Elgin, ON

Construction of a mixed-use development in Port Elgin, ON

This construction financing opportunity for a mixed-use development is located in Port Elgin, Ontario. The devel­opment will consist of 12 residential units and 47 commer­cial units, as well as parking stalls and lockers. Most of the units have been presold prior to accessing the construc­tion financing. The project is currently well underway. In addition, this development provides a great opportu­nity to grow a community in support of Bruce Power’s $13 billion refurbishment program, which is happening in a nearby town. This multi-year program is targeted to gen­erate 1,500 to 2,500 jobs on-site annually and 18,000 jobs across Ontario directly and indirectly while injecting up to $4 billion annually into Ontario’s economy.

Location

Port Elgin, ON

Loan amount:
$8,238,965
Loan Term:
12 and 24 months
Mortgage position:
First
Purpose:
Cost-to-complete Construction
Type:
Multi-family Development
Location:
Port Elgin, ON
Status:
Funded

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Alenna Emer, CPA, CA

Chief Financial Officer

Chawin Vajanopath, MBA

Senior Director, Operations

Matthew Solda, MBA

Vice President

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