Project Overview
Foremost Financial provided a $3,346,000 first mortgage construction loan to facilitate the renovation and intensification of a two-storey rowhouse located on an irregular lot in Toronto’s Trinity Bellwoods neighbourhood.
The sponsor has meaningful development and construction experience and executed the project efficiently, navigating the challenges associated with an irregular lot configuration and tight urban site constraints typical of downtown Toronto infill projects.
The development plan involved converting the existing dwelling into a triplex and constructing a new two-storey laneway duplex at the rear of the property. Upon completion, the project consisted of:
The project was successfully completed, fully leased, and refinanced with a CMHC-insured term loan, providing long-term financing and a successful takeout of the construction facility.
This transaction reflects Foremost’s continued support of well-executed urban intensification projects, including multiplex conversions and laneway housing developments across Toronto.
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
