Embattled condo developer Thomas Liu of the LeMine Investment Group suffered another setback Friday when a Superior Court judge ruled against him in his legal battle with the Town of Ajax. Justice Anne Mullins found the town was entitled to repurchase the land it had transferred to Liu’s company because he failed to begin construction of his proposed development by July 15, 2017, as spelled out in their agreement.The land was slated to be the location of Central Park Ajax, a 410-unit condo project that opened to a frenzied sellout in the spring of 2016. The condo tower was supposed to usher in the revitalization of downtown.Liu said Friday he plans to appeal the decision. “It appears to be errors of law,” he wrote in an email.Read more: This condo developer collected millions in deposits — and hasn’t built anythingLiu and his company were the subject of a Star investigation published online Thursday that found the 35-year-old’s ambitious ideas outstripped his abilities, that he relied on slick marketing to project credibility despite his lack of experience, and that he has failed to deliver high-profile projects. Liu, who is embroiled in 14 different lawsuits, is also the developer of The Academy, a Scarborough condo project that sold out in 2014 and has yet to break ground. Liu said that development is “stuck,” but it is not cancelled.Twelve condo projects — with a combined 5,625 units — have been canceled in the Toronto area since the beginning of last year, according to market research company Urbanation. Barring a successful appeal from Liu, Central Park Ajax will join that list. The spate of high-profile cancellations — including two major projects in Vaughan in the last six months — have sparked concern over whether there are sufficient protections for buyers, many of whom are priced out of the market by the time their deposits are returned.On Thursday, the CEO of Ontario’s home ...
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