The properties consist of two adjacent rectangular parcels of land, which were purchased for a total price of $6,000,000 in 2015. The property will be phase two of the developer’s two phase stacked townhome project. The planning process is expected to take 12-14 months in order to obtain site plan approval for the 88 unit development.
Land Assembly for an 88 Unit Stacked Townhome Development Financing
Foremost provided funds to acquire the property and to service a portion of the interest payments.