[URBAN NOTE] "Is the Exhibition Place's Hotel X back on track?"
The Toronto Star's Ellen Brait reports on the latest in the struggle to build a hotel at Toronto's Exhibition Place, between environmental concerns with the site and the financial concerns of the builders.
The construction of Exhibition Place’s Hotel X has been long, complicated, and riddled with problems. But those involved say they’re back on track.
“May is the target date. We’re making pretty good progress,” Owen Whelan, president of McKay-Cocker, the construction manager for the project, said. “I would say at this point we’re full speed ahead.”
But a number of liens still remain in place against the property. Liens are typically placed against properties as a means to keep a right of possession until a debt is paid.
Government records show five companies certified liens between Oct. 2016 and Dec. 2016 that are still in place. They range from around $89,000 up to $32-million. Multiplex Construction Canada Limited, the former construction manager of the project, took out the largest lien, at $32,573,260, on Oct. 19, 2016 and filed a second one for $17,618,739 on Nov. 28, 2016.
Jeffrey Burke, president of Lift All Crane Service Ltd., one of the companies with a lien against the property, said after Multiplex Construction Canada left the project, they left many companies “in the position where we had to put a lien on the project to ensure we were going to get paid.”