North is another exciting addition to the portfolio of towers launched nationally by Lamb Development Corp. (LDC) and Fortress Real Developments (FRDI). The project is a proposed 45 storey tower with 350 units. These units will be 725 sq ft on average, featuring high level finishes and amenities that buyers have come to expect from a LDC development.
Located in the bustling hub of the city, residents will be walking distance from all major retail, commercial, and entertainment with downtown Edmonton. North is the second of two towers LDC is launching in Edmonton this summer. Alberta has proven to have a strong demand for projects of this calibre, as seen with the 6th and Tenth project from LDC in Calgary.
Terms at a Glance
48 month term, 8% interest earned annually, interest to be paid quarterly, 16% potential deferred lender fee upon completion of the project.
Use of Proceeds
The purposes of the monies raised via this syndicated mortgage is to assist in addressing various funding requirements related to all elements of the project’s progress, especially prior to the commencement of construction. These requirements include, however are not limited to: Initial soft costs for planning & marketing expenses.
Available Supporting Documentation
Valuation, Proforma, APS Documents, Title searches
New Brad Lamb Projects in Edmonton – Profiled on CTV News
In an interview with CTV News Edmonton Brad J. Lamb talks about his new developments in Downtown Edmonton. Hear what he has to say, along with city of Edmonton Mayor Don Iveson. Watch Video
Investment In Downtown Edmonton on Global News
Global TV recently covered the significant government investment in downtown Edmonton in hopes of attracting private investment, such as Jasper House by Lamb Development Corp and Fortress Real Developments. Brad J. Lamb is interviewed in part 3 of the series.
Discussed are the public dollars going into high profile projects in downtown Edmonton such as the Royal Alberta Museum and the newly-named Rogers Place (which will be the new home of the Edmonton Oilers). Read Article