Introducing River St. Capital Inc., a new innovative financial solution for the condominium restoration market.
After 30 years as a leader in the large commercial, industrial and multi-unit residential exterior restoration industry, Geoff Grist, Brook Restoration CEO, has launched River Street Capital Inc. to provide innovative financial solutions to the condominium restoration market. River Street Capital Inc. has developed a financial product that enables condominium corporations to undertake large scale restoration projects without the need to deplete capital reserves or take on debt financing.
Too often, needed capital projects are put off for many years as condominium corporations face resistance when passing special borrowing by-laws or imposing special assessments on unit holders. In such circumstances, River Street Capital can arrange for major projects to be completed and funded from long term future cash flows, without the need to borrow or impose special assessments. River Street works only with Ontario’s most trusted construction companies to ensure that work is completed on time and on budget.
River Street will work with the condominium corporation, its manager and its board to develop a project budget and payment timeline that makes sense. With a River Street project, payments start at the completion of the project and continue for a period of up to 5 years, allowing the condominium corporation to fund the instalments from ordinary course maintenance fees.
If you are a condo manager, condo board member or construction company looking to fund a major capital project, please reach out to our sales team to learn how we can help.