With low interest rates in recent year, the vendor takeback mortgage has been essentially an unnecessary device that has sat unused. However, it remains a specific tool that is particularly useful when markets are a little volatile.
TAS, which bills itself as “an unconventional impact company,” has planning department approval to build 189 rental units in a 12-storey tower, along with seven townhouse units, at 88 Eastern Avenue. Ground is to break in the spring.
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