Thornton Place Suspends Condo Sales

This is news to me, a reader pointed out that sales have been suspended at Thornton Place:

As of March 1, 2010 Thornton Place will be pausing in its condominium sales efforts. The development is a large mixed-use project that includes apartments, condominiums, a theater, and retail. Thornton Place has seen tremendous success in both apartment and retail leasing. At the same time, the Northgate housing market has continued to be slow in its recovery. As a result, the project’s ownership has opted to pause sales efforts at this time and focus on the operations of the apartment and retail buildings.

Thornton Place is a Northgate community with 109 condos, 278 apartment homes and 143 boutique residential retirement units. I’ve heard that in terms of sales 18 of the first phase were under contract but couldn’t close prior to expiration as FHA financing had yet to be secured.

About Matt Goyer

I love condos, lofts, floating homes, new construction and mid-century moderns so much so that since starting this blog in 2006 I've written over 2,000 blog posts about them!

For years I resisted becoming a real estate agent preferring to be a marketing executive at Redfin but after leaving Redfin (after seven years!) I caved in the spring of 2014 and became a broker. So if you need help finding that "Urbnlivn-style" place or selling your home email me at matt@urbnlivn.com, I'd be happy to help you.

Prior to Urbnlivn and Redfin, I worked at Microsoft after graduating from the University of Waterloo with a Bachelor of Mathematics with a major in computer science.

You can also find me on Twitter, @MattGoyer, or LinkedIn.

  • The_Tim

    Huh. I guess the “we'll pay the mortgage if you lose your job” promotion wasn't quite as successful as they were hoping.

  • christiangustafson

    You have got to be out of your mind to buy a new condo right now. Who are these people?

  • christiangustafson

    You have got to be out of your mind to buy a new condo right now. Who are these people?

  • preems

    To answer your question: People who have secure investment money and are trying to make the most of the current state of the real estate with a well-developed property – that's who!

    On another note: I was one of the buyers at Thornton, and in the long run it was a great investment considering the location, quality, the LEED certification, projected neighborhood growth, AND the price was a steal…Never the less, I guess they figured they could make more money by renting, so they took the units off-market and mislead all of the 18 buyers into rescinding due to a “possible foundation problem.”

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