Councillor Josh Matlow

Hundreds of Toronto condo buyers lose homes after developments fail

Hundreds of Toronto condo buyers lose homes after developments fail

2018-08-16T16:28:57+00:00

November 09, 2017
John Lancaster
CBC News

When Tanya Rumble and her partner Josh Kolic heard a new condo development was going up in their Junction neighbourhood, they thought it would be the ideal time and place to buy. After all, they had been renting in the neighbourhood for seven years and loved it.

The developer, Castlepoint Numa, advertised an exciting new 10-storey condo building on Sterling Road in the Junction Triangle, called Museum FLTS. The building was going to be close to transit, a new park, a daycare and a new contemporary art museum it was also building.

“We got really excited” Rumble explained. “I walked by the sales centre almost every day,” she said, hoping to be one of the first people to put down a deposit the moment sales opened.

She was.

Read More: Hundreds of Toronto condo buyers lose homes after developments fail

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