Project Overview
Foremost Financial provided a $2,000,000 first mortgage loan to facilitate the construction of two detached triplex buildings.
The developer originally acquired two adjacent dilapidated triplex properties, each situated on a 33 ft. × 132 ft. lot. The properties were subsequently consolidated into a single 66 ft. × 132 ft. parcel to obtain municipal approvals for redevelopment. Following demolition of the existing structures, the lot was reconfigured to accommodate the construction of two new detached triplex buildings, each situated on its own 33 ft. × 132 ft. lot.
Upon completion, the development consisted of six residential units, including:
- Two-bedroom, one-bathroom lower-level units (approximately 986 sq. ft. each)
- Two-bedroom, one-bathroom main-floor units (approximately 1,026 sq. ft. each)
- Two-bedroom, one-bathroom upper-floor units (approximately 1,057 sq. ft. each)
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