About TRAC Developments
On May 27, 2024, Ernst & Young Inc. was appointed receiver of 260 High Park Limited Partnership, TRAC Developments Inc., and 2486357 Ontario Inc. (collectively, "260 High Park"), including the lands municipally known as 260 High Park Avenue Toronto, Ontario.
We encourage you to speak with your real estate lawyer if you have questions about this situation and receivership process. Information about the receiverships is available on the receiver’s website.
Tarion continues to monitor the situation and will update this notice from time to time.
Purchasers of Pre-Construction Homes
On May 27, 2024, Ernst & Young Inc. was appointed receiver of 260 High Park, including the lands municipally known as 260 High Park Avenue Toronto, Ontario.
At this time, neither the appointment of the receiver nor any sale process, whether currently underway or pending, have resulted in the termination or fundamental breach of purchase agreements.
For more information about deposit protection, you can visit our pre-possession warranty coverage and claims page.
How Tarion will support purchasers
Purchasers can have confidence that if purchase agreements are ultimately terminated as part of the receivership process or by transactions completed thereunder, and deposits are not refunded by the Vendor, TRAC Developments Inc, through the receivership process, then you will be able to submit a Deposit Protection claim to Tarion. You can learn more about the deposit protection offered by Tarion here.
There may also be a future claims procedure order made in the receivership proceedings, pursuant to which purchasers who paid deposits to TRAC Developments for pre-construction homes will be able to file claims.