Three towers to contain 1,285 apartments, plus retail space; development kicks off Scarborough Town Centre project
UPDATED: Oxford Properties Group has obtained the largest financing package under the CMHC’s Apartment Construction Loan Program (ACLP) for a Toronto development, $650 million, to finance its three-tower Alta multifamily project.
“This site is Toronto’s largest single-phase, multi-purpose rental development and the first major rental housing development in Scarborough in over a generation,” said Oxford chief financial officer Liz Murphy Tuesday morning during an official groundbreaking ceremony at the site of the project, beside the Scarborough Town Centre shopping mall in Toronto’s east end.
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