10 York - Ten York Development May Be Reduced to 68 Floors

Ten York Condo May be Reduced to 68 Floors From 75 Floors

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Looks like a community group called the York Harbourfront Residents Association has managed to negotiate the builder of the Ten York development down from 75 Floors to 68 Floors. Tridel is the builder, but there is no telling if they decided to reduce the height of the project due to a declining sales enviroment in the Toronto Market or if the pressure of this group managed to bring them down. They may have overshot their target to 75 floors, knowing full well they had wiggle room, to get down to the height they wanted which would have been 65 floors to 70 floors, just like all the other developments planned for the area, like the Menkes Harbourplaza development at 70 floor twin towers planned across the street, and the ICE development which tops out at 67 floors just north of this project. In time further details will emerge as to what actually happened with regards to the height reduction.

Getting a Mortgage and Mortgage Insurance through BMO Insurance for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at BMO Insurance include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from BMO Insurance is actually one of the major financing costs on home loans.