Cloverdale Mall Condo Project Cancelled

Condo developers have cancelled the Cloverdale Mall project ‘The Clove’.

Pre-sales amounted to less then 10 per cent of total number of units.

Mattamy Homes and QuadReal Property Group confirmed the cancellation largely due to economic uncertainty along with rising construction costs.

The project was designed to transform Cloverdale Mall into a mixed-use community with housing, retail and open public spaces. The decision to cancel the first phase underscores the broader slowdown affecting Toronto’s once booming condo sector.

https://www.thestar.com/real-estate/condo-developers-cancel-cloverdale-mall-project-after-pre-selling-less-than-10-per-cent-of/article_999bc20e-deaa-4838-a5ed-596132fdac89.html