The Eesti Maja team continues to work hard to bring the Toronto Estonian community a new facility in which we can thrive together for generations to come. Our relationship with Alterra, our development partner, has progressed to the next stage with the signing of the Agreement of Purchase and Sale. This is a major step forward as this agreement forms the contractual backbone of our relationship through the entire redevelopment of our property. This agreement becomes binding once the Developer waives the due diligence conditions, which is expected to occur in late summer. At that time Eesti Maja will officially be through the conditional phase of the project. In the meanwhile our team will now begin to focus on the rezoning efforts and the early stages of preliminary design.
It is with tremendous excitement that we bring you this news. This incredibly important step affirms and energizes the Eesti Maja Board’s commitment to the Eesti Maja redevelopment project now more than ever. We look forward to further updates on our cherished Eesti Maja as the project now begins to accelerate.
A/S Eesti Maja Torontos Juhatus
Toronto Estonian House status update (2)