2465 Brock Rd. is a condo development/construction project in Pickering Ontario which is already in the City’s official plan for mixed use density (just requires rezone from agricultural to mixed-use)and has a submission for 353 condos and 10,000 sf of commercial on the main floor. This project is on the
verge of achieving the aforementioned unit count and commercial space and is only waiting for January’s council meeting for approvals. The sewer allocation was granted by the Region of Durham on June 21st 2022 and the City of Pickering had no objections to the proposed density as its within the City’s allowed
density plan with no special official plan amendments required. The City of Pickering is actually in the process of writing the new by laws for the site and preparing their recommendation letter which they would only prepare if they were preparing for the site to be rezoned. The property should easily be officially rezoned in January 2023 after the City’s council meeting. This will be the 2nd counsel meeting for this project as the initial counsel meeting saw a unanimous counsel vote in favor of the project (see link within presentation). All the major comments have been dealt with and we see it as a formality to be granted a rezone as the City’s Chief planner has given the go ahead for D&S Group to move forward with the next phase of development which is known as the “Site Plan Approval”. This would not have been suggested if they saw any issues.  Developer, D&S Group and sole company owner Sacha Singh, owns over 50% of the 2465 Brock land/project which is held in the corporation known as “2465 Brock Rd. Development Inc.”. D&S Group has spent 1.8 years on the approvals and Sacha Singh has personally invested over $2M cash into the project to date with a total raise of $5M which was allocated for the development phase of the project. As the project enters into the construction planning
phase, Mr. Singh is issuing secured loans with his shares as default security with strong returns to finalize the site plan process and to prepare for the launch of the condos in Fall 2023. Construction is estimated to start in Spring 2024 and completed 2.5 years after we break ground.

D&S Group & Sacha Singh (Personal Covenant) is seeking to raise an additional $5M in capital as the project moves towards the construction phase. The loan will be secured against a portion of “Sacha’s shares of 2465 Brock Rd. Development Inc.” and he will also provide a personal Guarantee. The lender will be issued the following as security:
1. Promissory note from Sacha Singh & 9319697 Canada Ltd. (D.B.A Re/Max West D&S Group, A.K.A D&S Group)

2. Assignment of shares agreement from Sacha Singh (Holder of 2465 Shares) to lender 3. Share Certificate to be held in trust and will be signed by Sacha Singh and held in Trust by Nao Seko (The project’s book keeper). The share certificate will be transferred to the Lender if there is default of the loan. To obtain the share certificate, the lender would need to simply email Nao Seko with proof the loan was not paid off. The amount of shares pledged would be 20 non voting shares for every
$100,000 of investment or .66% of the company. The project is estimated to NET $54,000,000.00 Cdn (Land & Construction profit) upon final closings of the condos which would amount to a value of $363,000 which would be more than enough to cover the lenders initial loan plus interest if it was not able to be paid off at the time of the term ‘s due date