[Undead]

20s is highrise

 

[Branden Simon]

The developer reached an agreement with Mother Parkers

https://www.insauga.com/apartment-t...agreement-with-mother-parkers-in-mississauga/

 

[Lake Ontario]

Revised with a 11-storey front tower and a 24-storey rear tower on a six-storey podium. It has increased to approximately 450,000 square feet from 429,000 square feet.

As per the article, Ahmed Group is also proposing additional projects on the Dundas corridor and on Hurontario Street. Their website shows 2 projects on Hurontario and another 3 on Dundas in Mississauga.

Dispute resolved, Ahmed expands 2-tower Dundas St. E. development plan

Ahmed Group's proposed development of a mixed-use, purpose-built rental project of 568 units at 1000 and 1024 Dundas St. E. in Mississauga has taken a major step forward after a settlement was agreed to with Mother Parkers Tea & Coffee Inc.

renx.ca

 

[AlbertC]

543-unit Mississauga Dundas St. apartment project in receivership

A large, multi-phased purpose-built rental project in Mississauga was placed under receivership just before Christmas, according to filings in Ontario Superior Court, meaning a project first proposed over three years ago won't get off the ground anytime soon.

renx.ca

Ahmed Group's 543-unit Mississauga apartment project in receivership​

A large, multi-phased purpose-built rental project in Mississauga was placed under receivership just before Christmas, according to filings in Ontario Superior Court, meaning a project first proposed over three years ago won't get off the ground anytime soon.

The project was being undertaken by Mississauga-based Ahmed Group, which was founded in 1966. The firm claims to have a development pipeline exceeding $2 billion in value and assets under management of nearly $100 million through multiple funds.

At 1000 and 1024 Dundas St. E., near the intersection with Tomken Road, Ahmed Group — through AG (1000 & 1024 Dundas St. E.) GP Inc. and AG (1000 & 1024 Dundas St. E.) LP — was planning 543 residential units across four-storey, 16-storey, and 20-storey buildings. The project would also include approximately 10,000 sq. ft of commercial space and a two-level underground parkade.

Plans were submitted in September 2022 and the site is currently occupied by multiple commercial buildings with a total of 41 tenants, including the offices of Ahmed Group.

For the project, Ahmed Group secured financing from Toronto-based non-bank lender Morrison Financial Mortgage Corporation, with the two sides entering into a loan agreement in March 2023 for $15 million, split between $10,250,000 to refinance existing debt on the properties and a credit facility to finance soft costs for the redevelopment project.

Serving as the guarantor of the loan was Mohammed Irfan Ahmed, whom court documents identify as the principal of the borrowers and Ahmed Group’s website identifies as its president and CEO.