Helen Avenue, a low rise development and servicing project located in scenic south Unionville. A mixture of 46 freehold townhomes and detached singles, Helen Avenue represents one of the last parcels in this highly sought after part of Markham. Helen Avenue residences have some of the largest increases in re-sale value in Markham (and shortest time on the market).
Terms at a Glance
24 month term, 8% interest earned annually, interest paid quarterly, 6% potential performance fee upon completion, 73% Loan to Value ratio (when fully funded with interest reserve).
Use of Proceeds
Use of Proceeds: Development and zoning work, fixed equity participation, completion of work for draft plan approval and site plan approval.
Available Supporting Documentation
MCAP lot report, front foot description letter, redacted purchase and sale agreement of lots to builder.
February 2013: Construction is expected to commence late spring, with a timely exit for investors in the project.
September 2011: Deal commences funding.