Morrison Financial closed on a loan opportunity to refinance existing first mortgage and provide working capital to fund development costs for a development land in Ajax, ON.
The Property is 2.24-acre in size and is to be included in the Ajax GO Major Transit Station Areas. The land has been designated for a mixed-use high-density residential development with over 1,100 units. The Borrower is an experienced developer with significant experience in real estate development across all stages. The Borrower is currently working towards finalizing application for the Zoning by Law Amendment and Site Plan Approval.
