COMMERCIAL RENOVATION LOAN TORONTO

TORONTO, ONTARIO

PROJECT SUMMARY:

Our client purchased the subject property, which was a mixed-use building on 47 ft. by 136 ft. lot with three stories above grade and a full basement, which included four residential units on the top floors, retail space on the ground floor, and commercial space in the basement. After purchasing the property, our client received a minor variance to convert the second and third floors from residential units to a commercial daycare space, while keeping the main floor and basement as a retail and commercial space. They acted swiftly and were able to vacate the building and demolish the interior and start an extensive renovation that involved framing, new windows, a new façade, electrical, HVAC, plumbing, mechanical, and new building finishings. Our client successfully completed the renovation, and paid off our loan, to make this latest real estate project a success.

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