Projects Update

In our last update for the Bradley project, we noted that we were on track for our Phase 1 condition clearing submission, with most studies and reports complete. Our team was working to refine these documents based on feedback from the city and preparing for a more detailed second submission to follow.

This project is currently conditionally approved for the Draft Plan of Subdivision, subject to a total of 71 conditions. Our team continues to work towards clearing these conditions, with a focus on the First Detailed Engineering Submission as the initial phase of fulfilling the Clearance Conditions. We submitted the Focused Design Studies on May 9, 2025, and received comments on June 6, 2025. Through this submission, 16 conditions were addressed and considered complete.

After the City’s review and comments on the initial detailed engineering submission, we will reconnect with the adjacent property owners, Drewlo, to coordinate civil servicing.

We have also been approached by three prominent developers based in London and are currently engaged in active discussions with them. Preliminary negotiations are underway, and we are working through the structure of a potential deal that would be mutually beneficial, pending condition clearing.

Additionally, our neighbouring property expressed strong interest in acquiring the project, and we are now in direct negotiations with them. We are reviewing comparable land values to ensure competitive pricing which we will present to them at the next meeting. Meanwhile, we are continuing with waiving conditions for the project.

Upcoming Milestones:

First Detailed Engineering Submission: End of August 2025
Second Detailed Engineering Submission: Q4 2025

Timelines:

Zoning: Completed
Conditional Draft Plan of Subdivision: Completed
Registered Plan of Subdivision: Q1 2026 (Clearing Conditions)
SPA (Condo Block-Phase2): Q3 2026
Building Permit (Subdivision-Phase1): Q2 2026
Building Permit (Condo Block-Phase2): Q4 2026

All projected timelines are indicative and reflect current market conditions and planning assumptions. As with any development project, these estimates remain subject to change due to evolving regulatory, market, and construction environments. Accordingly, dates should be considered as targets rather than definitive deadlines.