Project Overview
Foremost clients assembled two lots that together total 53 ft. x 120 ft. They successfully obtained a zoning by law amendment and site plan approval in order to build:
The sponsor is an experienced real estate developer who assembled a strong project team, including a seasoned architect and construction manager. Based on the depth of experience and quality of execution, Foremost Financial provided a $4,025,000 first mortgage construction loan to finance:
Throughout the build, the client worked closely with Foremost’s in-house cost consultant, allowing for efficient draw reviews and funding advances—typically within one to two business days of site inspections. The streamlined process eliminated unnecessary paperwork and delays, enabling construction to stay on schedule.
Construction has since been completed, and the loan was successfully taken out by a CMHC-insured permanent loan, marking a smooth exit for all parties.
Looking for Construction Financing?
For more information about this project or Foremost’s industry-leading construction financing programs, contact:
Matt Gonsalves
Vice President – Mortgage Lending
416-488-5300 x555
📧 matt@foremost-financial.com
