It Now Takes 5 Banks to Finance 1 Toronto Condo Project and Developers Are Running Out of Time
Facing Power of Sale? You Still Have Options. Stop power of sale, foreclosure & receivership – across Ontario.
Ontario developers cancelled 28 condo projects covering more than 7,000 units last year, insolvencies just hit a 17-year high, and the Globe reported it now takes 5 banks pooling together to fund a single tower. If you are a builder, investor, or landowner stuck mid-project, the problem usually is not your project, it is that you are only talking to the banks. My job is knowing which private lenders, credit unions, and alternative capital sources are still actively funding Ontario construction, bridge, and land deals right now, and structuring your file so it actually gets approved. The developers who survive this cycle will be the ones who found capital while everyone else was waiting for the banks to call back.
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