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Construction loan for 24 stacked townhomes in Kitchener, ON

Construction loan for 24 stacked townhomes in Kitchener, ON

Morrison Financial is currently financing a project to construct 24 stacked townhomes in Kitchener, Ontario. The project received Site Plan Approval from the city earlier this year. In addition, despite the challenging market environment, the developer was able to successfully pre-sell 15 of the 24 units to satisfy our requirement for construction financing. We are happy to announce that the project has broken ground. Site servicing is mostly completed, and formwork is currently in progress. We look forward to helping bring this project to completion in the coming months.

Location

Kitchener, ON

Loan amount:
$9,145,000
Loan Term:
12 months
Mortgage position:
First
Purpose:
Cost-to-complete Construction
Type:
Multi-family Development
Location:
Kitchener, ON
Status:
Funded

YOUR CONTACTS

Speak With Our Team

Alenna Emer, CPA, CA

Chief Financial Officer

Chawin Vajanopath, MBA

Senior Director, Operations

Matthew Solda, MBA

Vice President

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Our Services

Mortgage Lending

We tailor lending options for builders and developers across Ontario to assist with acquisition, site servicing and construction of primarily multi-unit residential real estate developments.

CondoCorp Lending

We work with boards of directors and condo property management to tailor financing focused on repairs, reserve fund shortfalls, and refinancing of guest suites or existing loans.

Mortgage Investment

We offer the opportunity to investors to participate in pools of mortgages, which produce monthly distributions with the target of the investments being capital preservations.

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