Posted Oct 19, 2023, 3:17 PM
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Registered User
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Join Date: Nov 2014
Posts: 10,641
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The structure will not change.
source: urbantoronto.ca
Arrangements have been put in place to provide for the continuing construction and development of The One Project, and additional financing commitments have been secured from the Debtors’
existing senior secured lenders that will provide the Receiver with access to $315 million to fund ongoing construction and development costs, among other expenses.
Mizrahi Inc. is continuing in its capacity as the General Contractor of The One Project under the supervision of the Receiver. The Receiver will be engaging additional construction advisors, including a project manager, to assist with day-to-day operations and to oversee the ongoing construction of The One Project.
And like one urbantoronto forumer said "Just putting this out there but after watching documentaries on most large construction projects ie burj khalifa and multiple other super and mega talls most of them don't actually get finished by the developer that started them"
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