More than 120 people waiting on roughly $15 million tied up in deposits they paid on a failed seniors complex development will have to wait longer for their refunds after the group behind the project was granted creditor protection.
Charitable organization Trinity Ravine Community Inc. was granted protection from its creditors three weeks ago, citing detrimental effects of the COVID-19 pandemic and “skyrocketing” construction costs. The move comes seven years after it announced the Trinity Ravine Towers development — a two-tower, 605-unit “55-plus Christian lifestyle community” in Scarborough.
Trinity Ravine is now going through a court-supervised sale of its assets and development
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