May 4, 2012
A possible development in the Yonge and Eglinton area has a few homeowners on Soudan ave crying foul, saying they feel pressured by the developer to sell their homes.
Michelle Zafir, who lives in a semi-detached house on Soudan ave, received a letter in early March from Compten Management Inc, offering $750,000 for her house. A price, she says, that is “not sincere, and not serious.”
“Homes in the neighbourhood,” Zafir said. “are going for $800,000 or $900,000.”
Though, Jack Greenberg, President of Compten Management inc, said that $750,000 – which he claims was asked for from Zafir – is a more than a fair offer for a residential home in that area.
Compten Management has been sending offers to homeowners in the neighbourhood in an attempt to purchase land.
The company currently owns two nearby apartment buildings at 44 Dunfield ave., and 33 Holly St.
“The letter they received was not written in a very civil way,” said Councillor for Ward 22 Josh Matlow. “I do expect them to treat my residents with civility and respect, and work with them rather than at them.”
Though no plans to develop the area have been presented to the city, a letter sent to residents, states there will be two towers built to the north and south of the homes on Soudan ave.
Zafir though says she will not sell her house.
Alleging there have also been a number of actions that are meant to pressure residents of the area to sell their homes to the developer, Zafir says she feels insulted by a suggestion in the letter that says the development will be built around properties that are not sold.
Though Greenberg says, none of his actions were meant to bully or threaten Zafir, and the offer was in fact, according to Greenberg, more than market value.
“I can’t force anybody to do anything, can’t threaten anybody with anything,”
Greenberg said. “She’s entitled to her opinion just like everybody else on that street is entitled to their opinion.”
The issue is not about new development in the area, says Councillor Matlow, but rather the conversation that happens between the residents of Toronto and developers.
“This isn’t a question about whether development is a good thing or not, it’s about how developers approach homeowners,” Matlow said. “I think it would be very different for instance, if they were approached in a civil way and given a buyout offer they thought was reasonable.”
To read this article on globaltoronto.com, please click here.