Loan Summary

Loan amount:

$2,250,000

Mortgage position:

Second

Type:

Multi-family Development

Purpose:

Cost-to-complete Construction

Loan Term:

12 months

Status:

Funded

Construction loan to support the development of six townhomes in Brantford, ON

Morrison Financial is working with one of our existing clients to finance the construction of six freehold townhomes in Brantford, Ontario. Each townhome will be three-storey and approximately 1,941 SF in size. 50% of the units is required to be pre-sold to access the construction loan. 

Today, existing structures on the property has been demolished. Excavation and foundation work is expected to begin over the next couple of weeks. We expect that the townhomes will be completed by next Fall.

Location

Brantford, ON

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