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Abandoned, decrepit Scarborough mansion sells for $3.45 million

Published

4 années ago

janvier 14, 2019

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It’s decrepit, mouldy, and has been home to more than a few critters.

But it’s symbolic of the strength of the housing market in Canada’s largest city, even as rising interest rates, higher debt levels and increased government intervention marked an uncertain year for the real estate industry. The new owners paid a cool $3.45 million for a shell of a house in a home outside Toronto’s downtown core.

The 12,900-square-foot two-storey mansion in the Scarborough Bluffs neighbourhood had been abandoned for a decade, as reported by the Star. It has 13 rooms and seven washrooms. There is a separate garage that could potentially hold up to 16 cars, and sits on a plot of land with some historical significance. But it has never been lived in.

The partially constructed home needs millions of dollars in work to be completed. Inside there is water damage and animals have been through the building over the years. Would be purchasers were advised by some agents to wear masks before entering.

It was sold under receivership in June. But the sale was initially held up after lenders who held mortgages on the home intervened, saying the sale price was too low. The home was originally listed at $3.8 million.

The estate, originally registered to Christine Drotos, was seized by creditors after a bankruptcy. The property was originally purchased for $1.95 million in 2006. In an earlier listing in April of 2009, the asking price was $5.5 million.

“That is really a bargain price,” said Royal LePage agent Normand Gautreau. “It’s hard to find a property that big overlooking Lake Ontario. It’s a massive piece of property and the views are spectacular. Gautreau estimates that the original owners put up-to $1.5 million to build the existing steel beamed shell structure before construction stopped.

“It’s built like a giant Shoppers Drug Mart. It’s a big square thing that’s really quite sturdy,” said Gautreau. “The last owners really put some money into this.”

Land registry documents first indicated that the new buyer was Frederic Kielburger. That’s also the name of famed Toronto child rights activists Craig and Marc Kielburger’s father. The duo are the founders of WE Day. But Fred Kielburger’s wife, Theresa, told the Star in an email exchange that they were not the owners of the home and Fred Kielburger’s name was on the registry “in error.”

She said the home had however been purchased by a relative and that her husband “helps him where we can with lots of support … he fixes up old houses, rents others.”

After being notified by the Star, Kielburger notified the registrar of the error and the property was transferred in November to a numbered company. The sole director of the company is James Paul Altilia.

Altilia, a nephew of the Kielburgers, said in an email exchange with the Star that “I do real estate on the side, and I haven’t decided on anything regarding 4 Birchmount.”

Documents show that before the sale, there were three loans on the property, ranging from $2,534,582.27, to $1,164,755.78 to $6.7 million for a total of $9.23 million. That’s far more than it eventually sold for, and the subject of contention in an ongoing and controversial court battle between several parties, including the mortgagees.

“It’s a beautiful property, although the house isn’t in great shape,” said Brahm Rosen, president of Rosen Goldberg Inc. and official receiver for the estate. “It had a lot of notoriety over the years, but now someone will take care of it.”

An appraiser hired by the receiver had estimated the value at $3.2 million. The sale was eventually approved by Court of Appeal Judge David Paciocco who ruled that: “The Receiver made efforts to obtain the best price and achieved the offer to purchase after considering the interests of all parties.”

While the home has finally been sold to new owners, mortgagees were left fighting in court over the proceeds, says Rosen. “The outstanding issue that hadn’t been resolved after the sale is who gets what from the sale of the home. This had nothing to do with the new owners, but the former financing arrangements,” said the receiver.

The first home on the property, which was torn down, had some historic value. It was the former summer home of a prominent Toronto family who were proponents of public transit and electricity in the city. Henry Redman was the Town of Scarborough’s first solicitor and his house was the first to have electricity in the neighbourhood.

The size of the lot is huge by any standard at 135 feet frontage by 548 feet. A home with 50-feet of frontage sold four doors down in the same month for $1.239 million. Still, erosion over the years has whittled away some of the property. Gautreau says many years ago he would walk by the property and peer over the sides to see the dozens of wrecked cars, including Model T’s, pushed over the cliff to help staunch the erosion.

The realtor says earlier this year he brought clients through the home who wanted to purchase the land and build townhomes. But the lots could not be subdivided under current zoning.

He says if the existing steel structure is kept, the building would need about $2 million of work to be completed. That would mean the home would cost a total of $5.45 million to complete including the purchase price. But he said it would be worth at least $8 million to $10 million in finished form.

“It needs a lot of work. And it’s certainly a bit of a risk,” Gautreau said. “You need to have deep pockets but whoever bought it will see a lot of upside. I think they got a deal.”

Tony Wong is the Star’s television critic based in Toronto. Follow him on Twitter: @tonydwong

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Anglais

Nostalgia and much more with Starburst XXXtreme

Published

2 années ago

août 10, 2021

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Get a taste of adventure with Starburst XXXtreme based on the legendary NetEnt Game. The nostalgic themes are sure to capture fans of the classic version as they get treated to higher intensity, better visuals, and features. The most significant element of the game is its volatility. Patience will not be an essential virtue considering the insane gameplay, and there is a lot of win potential involved. It retains the original makeup of the previous game while adding a healthy dose of adrenaline.

Starburst Visuals and Symbols

The game is definitely more conspicuous than before. The setting happens over a 5-reel, 3-row game grid with nine fixed win lines, which function if a succession from the left to the right reel is present. Only those players that that attain the highest win per bet line are paid. From a visual standpoint, the Starburst XXXtreme slots illustrates lightning effects behind the reels, which is not surprising as it is inherited from the original version. Available themes include Classic, Jewels, and Space. The game is also available in both desktop and mobile versions, which is advantageous for players considering the global pandemic. According to Techguide, American gamers are increasingly having more engaging gaming experiences to socialize to fill the gap of in-person interaction. Starburst XXXtreme allows them to fill the social void at a time when there is so much time to be had indoors.

Starburst XXXTreme Features

Players get to alternate on three features which are Starburst Wilds, XXXtreme Spins, and Random Wilds. The first appears on reels 2,3, or 4. When these land, they expand to cover all positions while also calculating the wins. They are also locked for a respin. If a new one hits, it also becomes locked while awarding another respin. Starburst XXXtreme offers a choice between two scenarios for a higher stake. In one scenario with a ten times stake, the Starburst Wild is set on random on reels 2,3, or 4, and a multiplier starts the respin. The second scenario, which has a 95 times stake, starts with two guaranteed starburst wilds on reels 2,3, or 4. it also plays out using respin game sequence and features. The game also increases the potential with the Random Wilds feature to add Starburst Wilds to a vacant reel at the end of a spin. Every Starburst Wild gives a random multiplier with potential wins of x2, x3, x5, x10, x25, x50, x100, or even x150.

The new feature is sure to be a big hit with the gaming market as online gambling has shown significant growth during the lockdown. AdAge indicates the current casino customer base is an estimated one in five Americans, so Starburst XXXtreme’s additional features will achieve considerable popularity.

What We Think About The Game

The gambling market has continued to diversify post-pandemic, so it is one of the most opportune times to release an online casino-based game. Thankfully Starburst XXXtreme features eye-catching visuals, including the jewels and space themes. These attract audience participation and make the gameplay inviting. The game also has a nostalgic edge. The previous NetEnt iteration featured similar visuals and gameplay, so the audience has some familiarity with it. The producers have revamped this version by tweaking the features to improve the volatility and engagement.

That is characterized by the potential win cap of 200,000 times the bet. Starburst XXXtreme does not just give betting alternatives for players that want to go big. The increase of multipliers also provides a great experience. If the respins in the previous version were great, knowing that multipliers can go hundreds of times overtakes the game to a new level.

Players should get excited about this offering. All of the features can be triggered within a single spin. Whether one plays the standard game or takes the XXXtreme spin route, it is possible to activate all of the features. Of course, the potential 200,000 times potential is a huge carrot. However, the bet size is probably going to be restricted and vary depending on the casino. It is also worth pointing out that a malfunction during the gameplay will void all of the payouts and progress. Overall, the game itself has been designed to provide a capped win of 200,000 times the original bet.

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Anglais

‘We’re back’: Montreal festival promoters happy to return but looking to next year

Published

2 années ago

juillet 23, 2021

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In downtown Montreal, it’s festival season.

In the city’s entertainment district, a musical act was conducting a sound check on stage Friday evening — the second day of the French-language version of the renowned Just For Laughs comedy festival. Tickets for many of the festival’s free outdoor shows — limited by COVID-19 regulations — were sold out.

Two blocks away, more than 100 people were watching an acoustic performance by the Isaac Neto Trio — part of the last weekend of the Festival International Nuits d’Afrique, a celebration of music from the African continent and the African diaspora.

With COVID-19 restrictions continuing to limit capacity, festival organizers say they’re glad to be back but looking forward to next year when they hope border restrictions and capacity limits won’t affect their plans.

Charles Décarie, Just For Laughs’ CEO and president, said this is a “transition year.”

“Even though we have major constraints from the public health group in Montreal, we’ve managed to design a festival that can navigate through those constraints,” Décarie said.

The French-language Juste pour rire festival began on July 15 and is followed by the English-language festival until July 31.

When planning began in February and March, Décarie said, organizers came up with a variety of scenarios for different crowd sizes, ranging from no spectators to 50 per cent of usual capacity.

“You’ve got to build scenarios,” he said. “You do have to plan a little bit more than usual because you have to have alternatives.”

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Anglais

MELS new major movie studio to be built in Montreal

Published

2 années ago

juillet 23, 2021

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MONTREAL — MELS Studios will build a new film studio in Montreal, filling some of the gap in supply to meet the demand of Hollywood productions.

MELS president Martin Carrier said on Friday that MELS 4 studio construction will begin « as soon as possible », either in the fall or winter of next year. The studio could host productions as early as spring 2023.

The total investment for the project is $76 million, with the Quebec government contributing a $25 million loan. The project will create 110 jobs, according to the company.

The TVA Group subsidiary’s project will enable it to stand out « even more » internationally, according to Quebecor president and CEO Pierre Karl Péladeau. In the past, MELS Studios has hosted several major productions, including chapters of the X-Men franchise. The next Transformers movie is shooting this summer in Montreal.

Péladeau insisted that local cultural productions would also benefit from the new facility, adding that the studio ensures foreign revenues and to showcase talent and maintain an industry of Quebec producers.

STUDIO SHORTAGE

The film industry is cramped in Montreal.

According to a report published last May by the Bureau du cinéma et de la télévision du Québec (BCTQ), there is a shortage of nearly 400,000 square feet of studio space.

With the addition of MELS 4, which will be 160,000 square feet, the company is filling part of the gap.

Carrier admitted that he has had to turn down contracts because of the lack of space, representing missed opportunities of « tens of millions of dollars, not only for MELS, but also for the Quebec economy. »

« Montreal’s expertise is in high demand, » said Montreal Mayor Valérie Plante, who was present at the announcement.

She said she received great testimonials from « Netflix, Disney, HBO and company » during an economic mission to Los Angeles in 2019.

« What stands out is that they love Montreal because of its expertise, knowledge and beauty. We need more space, like MELS 4, » she said.

There is still not enough capacity in Quebec, acknowledged Minister of Finance, the Economy and Innovation Eric Girard.

« It is certain that the government is concerned about fairness and balance, so if other requests come in, we will study them with the same seriousness as we have studied this one, » he said.

Grandé Studios is the second-largest player in the industry. Last May, the company said it had expansion plans that should begin in 2022. Investissement Québec and Bell are minority shareholders in the company.

For its part, MELS will have 400,000 square feet of production space once MELS 4 is completed. The company employs 450 people in Quebec and offers a range of services including studio and equipment rentals, image and sound postproduction, visual effects and a virtual production platform.