While rumours swirl around town about the status of the Monaco development at Hume and Hurontario Streets, the president of the development company overseeing the project wants to set the record straight.
When reached this week by CollingwoodToday, Remo Niceforo, president of Stonebrook Developments (the company behind Monaco) says rumours the development has been sold are simply not true.
“We are working on financing to start construction on the project,” said Niceforo. “There is no sale, there’s no discussion of sale.”
Niceforo says the Monaco office has had about a dozen phone calls and visits from purchasers asking questions over the past week, so he wanted to correct misinformation.
“There’s no question there’s a rumour going around, but I don’t understand where it’s coming from,” he said.
“We have every intention of commencing construction this spring,” he said. “That’s what we’re hard at work on. We don’t have any firm dates or approvals yet... but we’re working with the municipality along with the lender.”
“There’s no intention at this time of selling the project,” said Niceforo.
According to the plans released by Stonebrook thus far, the first storey of the Monaco development will house upscale retail shops and the other five storeys will be condominiums ranging from single to three-bedroom units from 650 square feet to 1,400 square feet.
The condominiums on the second through fifth levels will feature 10-foot ceilings, granite and quartz countertops, Italian imported cabinetry, stainless steel appliances and seven-inch baseboards. The price range for these units stretches from $337,990 to $737,900.
The building is an L-shape fronting on Hume and Hurontario Streets with 100 above-ground guest parking spots behind the building. The Monaco development is located within the town's heritage district, and is on the former Admiral school site.
- with files from Erika Engel
