We’d like to congratulate the team at Worthington Homes, together with their joint venture partners Kingridge Developments, for fully selling the site out at Trafalgar Square development in Georgetown, Ontario.
The property, located just east of Trafalgar Road and north of Maple Avenue, was acquired with plans to build 101 modern-designed townhouse units. In 2019, MarshallZehr worked closely with Worthington Homes to provide a leveraged land facility that refinanced their existing mortgages and gave them the runway they needed to finalize their planning requirements with the city of Halton Hills.
MarshallZehr could see the potential in the future development of the site – demand for housing across the GTA had been growing as more people looked for homes outside Toronto. In particular, this was the case in areas west of Toronto in Oakville, Milton and Halton Hills. However this demand was faced with a “persistent lack of housing inventory and the continued supply and demand imbalance”, as reported by InHalton. MarshallZehr focuses on addressing the province’s need for new residential construction to meet this demand for housing, and we were excited to become involved in the Trafalgar Square development.
Our enthusiasm and high expectations for the project were validated by the development’s quick success: going to market in October 2020, the developer managed to presale 65% within 60 days of launching. MarshallZehr later syndicated a servicing loan and construction revolver for the buildout of the development’s 101 townhomes.
“It has been a pleasure to collaborate with Worthington Homes over the past couple years, and to watch this development take shape. We are incredibly proud of their achievement, glad we were able to assist in reaching this milestone” said David Hildebrant, Vice President of Business Development at MarshallZehr.
Trafalgar Squares’ modern freehold townhomes are located just minutes away from the Georgetown GO Station and Highways 401 and 407, close by to the Halton Hills Civic Centre and the playing fields of Trafalgar Sports Park, as well as being nearby to park spaces and golf courses.
About MarshallZehr Group
MarshallZehr Group Inc (“MZ”) is an industry leader, providing mortgage lending and customized financial opportunities for select real estate construction and development. MZ’s unique combination of experience, technology, and strategic insight allow the company to deliver tailor-made financial solutions that enable developer progress and meet capital lender mandates.
About Kingridge Developments
From initial concept through to completion, Kingridge brings together financial resources and experienced management to form profitable partnerships focused on creating projects of lasting excellence. Kingridge Development Corporation was created with the vision of acquiring, developing and building out well situated, infill, brownfield and greenfield opportunities throughout the GTA and Greater Golden Horseshoe.
About Worthington Homes
The principals behind Worthington Homes bring 25 years of experience and homeowner satisfaction to Georgetown. By bringing together three highly sought after qualities in the building industry: impeccable design, beautiful custom quality finishes and a level of craftsmanship that is the standard for Worthington Homes. All in all, creating a legacy of luxury that serves as a testament to what true sophistication was meant to be.