On March 27, two Cresford Developments condo projects in the neighbourhood (and a third one in Yorkville) were placed in receivership at the request of lenders, who alleged financial mismanagement.
The Clover at 599 Yonge Street, between Dundonald and Gloucester was partially completed. In June 2020 Concord Pacific took over the project and re-started construction. Concord Pacific is also responsible for completing the rebuild of the park adjacent to The Clover, James Canning Gardens.
The other local project under receivership is Halo, at the southwest corner of Yonge and Grosvenor (notable for the preserved historic clock tower). This project was still a hole in the ground at the time of the receivership, but QuadReal Property Group took over the project in October and construction resumed.
As a part of the receivership process, it is possible that those who purchased condo units pre-construction will have the sale cancelled and deposits refunded.
The receivership documents are available on the Price Waterhouse Cooper website.
Councillor Wong-Tam has struck a community-based Working Group which will meet regarding Graywood Development's proposal for a 15-storey midrise at 506-516 Church Street (home to Boutique Bar, Crews & Tangos, and a parking lot that is used for the Central Stage at the Pride Festival).
According to the councillor's office, the Working Group will meet before any Zoning By-law and Official Plan Amendments can be brought to City Council for approval. The group, of which CWNA is a member, will discuss the development proposal and site plan from the economic and cultural perspective of the Church Wellesley Village, with the aim of preserving and protecting the historical significance, character and culture of the Village.
The Working Group meetings are separate and apart from broader community consultations, which will be held in 2021. The first Working Group meeting was held on Dec. 1; we'll have details soon.
The third and final round of public consultation took place from September 2, 2020, to October 6, 2020, with a virtual public meeting held on September 16, 2020.
Questions and Answers received during the virtual meeting and the Round #3 Consultation Report are now available at toronto.ca/yongeTOmorrow.
A range of feedback has been received from different stakeholders:
To learn more about what people said about the pedestrian and cycling experience, vehicle access, space for patios and street retail as well as space to festivals and events, visit the Past Consultation section on the project web page.