Ward 2 city councillor Jason Farr is trying to ease concerns over the status of the Connolly condo project on James Street South.
Little has happened since part of the James Street Baptist Church was demolished three years ago to make way for a 30-storey tower that would be attached to the facade.
Delays aren’t the only fuel for concern at this point.
One of the proponents for the Connolly is tied to the On the Go Mimico development that recently went into receivership, leaving more than 200 people, potentially out of a condo and looking for a refund.
Coun. Farr says he’s being advised that construction will move forward.
“Other than the common element in Louie Santaguida, these are two completely different companies,” he said.
“There’s no liens, no mortgages on this property, related to, at all, the Mimico property.”
Farr says the city has not put forward any grants or loans at this point, that it would lose out on, if the project falls through.
He adds,”we have the money already in the bank to make sure we maintain what’s there.”
The Connolly is already 75 per cent sold, and Farr sees this as a sign that shovels will be in the ground soon.
An update on both the Connolly and Tivoli condo projects are expected at city council later this month.
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