The Hampton Heights development from the embattled Stateview Homes is now in the hands of Ontario-based Brookshore Homes following the Ontario Superior Court's approval of the sale last week.
As such, the project was to be sold with an expedited sales process after Firm Capital and the receiver identified a "high risk of potential calamities that could jeopardize its completion and/or significantly erode value," which included exposed wood framing that could become a fire hazard, fire hydrants on site being inoperable because the water supply had been shut off, an insufficient number of fire extinguishers around the site, and no personnel on site to monitor for these...
Conditional to Brookshore's purchase agreement was the termination of all existing individual pre-sale purchase agreements.