HALO Advisory and LaCaban Developments announce New Multi Family Development in the Durham Region

A new multi-family apartment is coming to the Durham Region by HALO and LaCaban Developments

TORONTO, Oct. 25, 2022 (GLOBE NEWSWIRE) -- HALO Advisory Inc. today announced a new multifamily re-development project in the rapidly growing Durham Region Township of Brock. The proposed development will see the former retirement home known as Dre’s Lodge be redeveloped into much needed multi-unit housing amidst surging population growth in the Durham Region.

The project will offer a mix of one and two-bedroom apartments and aims to provide a modern residential living experience in the emerging Uxbridge area. The Toronto based firms are preparing plans to the city to repurpose the underutilized commercial real estate asset.

HALO Advisory CEO, Stephen Thomas, originated the deal on behalf of the property owners to repurpose the building after the retirement home was forced to close. “This transaction is an opportunity to work with a builder that has an excellent reputation and track record building quality projects in the greater Toronto area,” Thomas said. “There is no doubt this project will be a welcomed addition to the area and provide much needed housing to accommodate the influx of new residents moving to the Township of Brock and Durham Region.”

“The challenges we faced as owners of Dre’s Lodge were systemic and so we decided as a family to close the operation and repurpose the building,” stated Andrew Dixon, the owner of the property. “We have over 30 years of experience in the care industry and have an excellent track record. We are excited to reposition this building and provide the town of Sunderland with quality apartment units for its residents to call home.”

LaCaban Developments is a luxury builder that combines unique architecture with green building materials to promote sustainable living. Its portfolio of successful developments includes the Camlaren Crescent Custom Homes in Kleinburg, The Jewel on Athabasca in Vaughan, and upcoming Clapham Row & Crediton Pkwy Townhomes in Hamilton and Mississauga.

“The home is one of the most prized possessions of every individual. Any prized possession should be cherished, valuable and loved. LaCaban brings to the multi-residential space luxury as a standard. Now every home owner can have a home they are proud of regardless of if they rent or own,” says Tayo Omosehin, CEO, LaCaban Developments Inc.

For HALO, this recent deal represents another opportunity to apply its advisory approach to commercial mortgage brokering. “We’re intimately involved with development projects of all sizes going through the various stages of the entitlement process through our finance work as commercial mortgage brokers,” stated Thomas, CEO of HALO Advisory Inc. “We provide pre-development and development management services to our clients and business partners and really simplify the lending and development process for property owners that want or need to reposition their buildings to their highest and best use.”

HALO Advisory Inc.: HALO Advisory is a leading commercial financing company in Canada and consist of HALO Advisory Inc. and TMG Black Capital, license number 13348. HALO provides real estate advisory services and arranges commercial mortgages for small and medium sized businesses, commercial real estate developers, and investors interested in investing in commercial mortgages across Canada.

LaCaban Developments Inc. is a Tarion builder and developer focused on providing quality housing. LaCaban has successfully delivered over $50MM of luxury custom homes and low-rise projects since 2015 and is known for sophistication in its design and the integration of cutting edge technology in the home.

Stephen Thomas
HALO Advisory Inc.
416 995 2082

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb7f81ce-3cf3-4c15-a88f-d6741c7ca17c

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