About the Business
Percy Ellis is a development and construction company that focuses on community engagement alongside re-development. This approach empowers communities to influence the final plan of the construction project along with the stakeholders. In their development work, the organization has an open-door policy, which includes a commitment to dialogue, transparency, communication, and connectedness.
About the Loan
VCIB provided $2,550,000 in mortgage refinancing for a property on Rhodes Ave, Toronto, to the property owner Rhodes Queen Holdings Inc. Percy Ellis acts as the property’s development manager, and as a shareholder with 10% committed capital. With VCIB’s financing, Rhodes Queen Holdings and Percy Ellis will transform the property into a green building by incorporating geothermal heating.
About the Impact
By engaging the community in the development process, Percy Ellis seeks to integrate their tenants and the community. In doing so, they seek to create spaces that will serve the community as a whole. Percy Ellis is extremely dedicated to involving the community in their development process, which allows for thoughtful and sustainable growth within Toronto’s neighbourhoods.
For VCIB, this partnership presented an opportunity to drive lasting sustainable change. With the funding, Percy Ellis and Rhodes Queen Holdings Inc. will be able to incorporate geothermal energy to significantly reduce the building’s GHG emissions.
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The information provided herein is intended for informational purposes only and is not intended to constitute investment, financial, legal, accounting, tax, or other advice and should not be relied upon for such purpose. Always consult a professional regarding your specific needs and circumstances. Customer results may vary. The customer endorsements that appear on this page were solicited by VCIB.
