The Shannondale (née Electrohome, 152 Shanley St) | 8 fl | U/C

[Chris]

Andrew Spylo is a greedy asshole and the worst "speculator" this city has ever had since he was too stupid to ever money off of this. Glad to see this is finally going to get something new.

I'm triggered. The fact that he was able to buy it back at the tax sale after not paying the taxes is just asinine.

Over the years, Andrew Spylo has repeatedly failed to pay property taxes on the property, a contaminated former industrial site that has sat vacant for decades. In January, the property tax bill amounted to about $1.2 million.

The city filed a lien in 2011 for taxes owed, but took six years before it launched the first of its two efforts to recoup those taxes through a forced tax sale. The first sale, in 2017, failed when no bids met the minimum asking price. The second, in February, was cancelled after the owner paid the minimum asking price of $448,798.43. The move essentially allowed Andrew Spylo to retain the property by paying just 37 per cent of the taxes and interest he owed.

Full article. https://www.therecord.com/news/waterloo-...-site.html or https://outline.com/GsbUbN

Edited to add: I didn't see this covered in the background already but I'm leaving it here anyway.