For the past two years, SJTG has tried to work with Kingsett Capital and the City of Toronto to advocate responsible development and tenant safety. The sad reality is the City lacks resources and the backbone to effectively serve its residents' best interests. City attorneys and REIT-hired corporate real estate lawyers negotiate urban planning issues.
Kingsett Capital is a multibillion-dollar company that now manages $17 billion in assets in a $19 billion portfolio. They also receive millions of dollars of public money through incentives and low-income loans.
The first letter threatening financial penalties was dated May 29, 2023, because SJTG filed a Request for Review with the OLT and a Judicial Review Application regarding the process and challenges civilians experience in obtaining their right to proper access to justice.
Unfortunately, SJTG lost the judicial appeal, and the court ruled that Kingsett Capital (which has $17 billion in assets) is entitled to $10,000 in expenses from an all-volunteer grassroots, non-profit community group! Kingsett Capital WANTS $ 10,000. A second letter was sent, dated 25 January 2024.
South JT Grows has joined forces with 230 Fightback and No Demovictions Ontario to support those who have been targeted by Kingsett Capital. This issue extends beyond the South Junction Triangle and SJTG. Kingsett has many hands in molding Toronto's housing landscape under the "trickle-down" market theory.
Join us on 20 February 2024, 11:00 AM at the corner of Sterling Road and Bloor Street West to have your voices heard. Enough is enough!!
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