The briefing
Following the 2023 collapse of a 23-apartment project in Ellerslie, lenders finished the build and are now selling 14 units at 42 Arthur St to recover funds. The developer’s debt has climbed toward $100 million, with apartments reportedly listed at prices below construction cost.
Original headline
Developer DDL Estates’ debt nears $100m; collapse opens door to ‘below cost’ Ellerslie apartments