Projects Update

In our last update for The Ambrose Condos Phase II, we highlighted the Ontario Land Tribunal (OLT) matter related to our Minor Variance Application. We are happy to announce  that this matter has officially been resolved, clearing a key hurdle for the project. In addition to this good news, another positive update is that a new city-wide zoning bylaw has come into effect, creating more opportunities for increased density and design optimization for the project.

In response to evolving market conditions, we are actively re-evaluating the project design. This includes exploring a potential shift from a mid-rise building to a townhouse configuration, which may better align with both the site's characteristics and current buyer demand trends.

Should we proceed with a full redesign to capitalize on these new allowances, a new planning application will be required. In the meantime, we are continuing with condition clearing efforts.

Upcoming Milestones:

Condition Clearing: Ongoing

Timelines:

Zoning: Complete
SPA: Q4 2025
Building Permit: Q1 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.