The undertakings at 759 Winston Churchill Boulevard, 688 Southdown Road, and 2226 Royal Windsor Drive have been mired in receivership proceedings since mid-February.Editor’s Note: A previous version of this article stated that Jones Lang Lasalle Real Estate Services, Inc. has been proposed to to broker the sale of these sites, however, information since obtained from KSV Advisory reveals this to be incorrect and no petition for a 'sales process approval order' has been made.
Collectively referred to as the “debtors” throughout the court documents, those three entities are the registered owners of the aforementioned development sites in southwest Mississauga. Michael Moldenhauer — he appears to be at the head of a Toronto-based real estate, investment, development and finance company known as the Moldenhauer Corporation — is described as “a director of each of the debtors.
As for the two other addresses included in the court documents — 91 acres on Southdown and 74.5 acres on Royal Windsor — it appears that they are currently zoned for industrial use but were planned to be rezoned for residential. The status of the rezoning was reportedly “unclear” to KingSett when they initiated the receivership proceedings, and the court documents state that no material construction had commenced on either site to date.
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