Trafalgar Square

Kingridge Development Corporation & Worthington Homes
Georgetown, Ontario

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. The principals behind Worthington Homes bring 25 years of experience and homeowner satisfaction to Georgetown.

What we did

  • Leveraged land facility
  • Refinanced existing mortgages
  • Streamlined capital stack into single plan

The property, located just east of Trafalgar Road and north of Maple Avenue in the quaint community of Georgetown, was acquired with plans to build 101 modern-designed townhome 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 project.

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 and has since fully sold the site out as of January 2021. MarshallZehr later syndicated a servicing loan and construction revolver for the buildout of the development’s 101 townhomes.

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.