That glazing is spectacular. Being from Ottawa I have to have a certain level of resentment towards Toronto but man is it feeling 'big city' these days!
It's not cancelled and deposits haven't been returned. There's hope someone will continue with the current development. Guaranteed is absolute nonsense. It's in receivership! I myself don't know much about building a $500(?) million tower. I know $500 million doesn't grow on trees. If Cresford struggled with their debt and the economics weren't there to continue than why will there be so much demand to take this on?
I just noticed you said distressed property sale. The receiver would be selling the development , 33 Yorkville Residences. 33YR doesn't own the property. The sale with the city of Toronto is not finalised until an underground public park is completed.