Buyers in a Junction condo-townhouse development are now awaiting the return of their deposits after Limen Developments Ltd. sent letters Monday saying the project has been cancelled. The agreements of purchase and sale were conditional on Limen “obtaining and accepting financing for the construction,” said the letter naming president Antonio Lima. The East Junction Condos at 394 Symington Ave. were supposed to begin construction last year and be complete by 2021. The 278 units were priced from about $650,000 to about $830,000 and the project included a 16-storey tower as well as stacked townhomes. Tarion, the agency that regulates builders in Ontario, lists the project as “in progress,” according to a spokesperson.

Source: thestar February 04, 2020 22:52 UTC