Admiral development on hold

There are 1 comment on the Collingwood Connection story from Dec 4, 2008, titled Admiral development on hold. In it, Collingwood Connection reports that:

The Admiral Collingwood Place development appears to be on hold. In a press release, Admiral Collingwood Development Corp.

Join the discussion below, or Read more at Collingwood Connection.

Eric McGuinness

Toronto, Canada

#1 Dec 6, 2008
City:$1.2m loan safe, buyers eyeing condo project

... The city began advancing its loan in stages when the project was 60 per cent complete.

By the time construction stopped, it had handed more than $ 1,081,207,

secured by a second mortgage. The Canadian arm of

Mumbai-based ICICI Bank, which holds the first mortgage,

went to court to have a receiver appointed Nov. 12 ...

http://www.thespec.com/News/Local/article/477...

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