Charles Mady says he will seek alternative financing for his downtown Barrie residential/commercial development after its major lender declined to fund the project's completion.

The Laurentian Bank of Canada, through a court-appointed monitor, made that decision public this week about Lakeview Condominiums and Collier Centre, which sits unfinished at 90 Collier/55 Mulcaster streets.

They (Laurentian) want to see if there is someone who will take over their debt, said Mady, CEO of Mady Development, and we're working with two people who have expressed an interest in doing so.

Not banks. Two private equity sources, he said. We're making a few calls. I have a few people working with me.

Jonathan Kreiger, of monitor Grant Thornton Ltd., said this means the project could go forward in one of two ways.

The options are that he (Mady) is going to secure some alternate financing to complete the project, or the project is going to be sold to another developer to complete, Kreiger said.

Laurentian has decided it's not going to fund the balance of construction to completion, but that doesn't mean that the project will not proceed. So what that means is the bank (Laurentian) will consider some further interim financing, to advance the project, but the ultimate full financing for the project is not going to come from Laurentian.

According to Ontario Superior Court of Justice documents, more than $50 million in debt is owed on this project.

Approximately $30 million is owed to Laurentian, $20 million to other creditors and there are $12 million in liens claims registered against the project.

Laurentian Bank could not be reached for comment by the Examiner.

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Construction of Barrie project remains in financial limbo

-- UC Berkeley College of Environmental Design leverages 3DS ColorJetprinting technology for architectural-scale production -- Stunning, intricate geometry underscores creative and commercialpotential of 3D printing for artists, architects and engineers

ROCK HILL, S.C. 3D Systems (NYSE:DDD) today announced the unveiling of "Bloom," a spectacular 3D printed architectural-scale structure created at UC Berkeley using 3DS' ColorJet printing technology. The work of Associate Professor of Architecture Ronald Rael and his graduate student team, the project was unveiled at the fifth annual Berkeley Circus.

Measuring approximately 12' W x 12' D x 9' H, this groundbreaking architectural work is the largest and most precise 3D-printed polymer structure to date. Brought to life by 3DS' ProJet x60 printers, "Bloom" demonstrates how artists, architects and engineers increasingly rely on 3D printing technology to design and produce complex structures with uncompromised speed, cost, accuracy and creative freedom.

"3D printing is emerging as a revolutionary tool in fine art, design and construction," said Cathy Lewis, Chief Marketing Officer, 3DS. "These tools empower everyone to conceive and create any geometry, no matter how complex. 'Bloom' is an inspiring example of the boundless creative and commercial possibilities that these technologies bring."

"Bloom" is a freestanding, organically shaped room built from 840 mass-customized blocks, all of which were 3D printed on the 3DS ProJet x60 using a cement polymer developed by Rael. Because the ProJet x60 series creates incredibly accurate, full-color parts like no other 3D printer can, it allowed the team members to quickly transform their ideas into physical parts. Rael and his collaborators fabricated each unique numbered block using 11 ProJet x60s, and then assembled them by hand. Each block allows varying amounts of light to pass through the wall, creating a dynamic visual effect that interacts with floral patterns on the structure.

"While there are a handful of people currently experimenting with printing 3D architecture, only a few are looking at 3D printing with cement-based materials and all are extruding wet cement through a nozzle to produce rough panels," said Rael. "We are mixing polymers with cement and fibers to produce very strong, lightweight, high-resolution parts on readily available equipment. This project is the genesis of a realistic, marketable process with the potential to transform the way we think about building a structure."

3DS offers a variety of 3D technology that generates new possibilities for architectural planning, visualization and presentation. Using powerful tools like ColorJet printing, desktop drafting on the CubePro and Sense 3D scanning, architects and engineers can communicate their visions and go beyond the blueprint. Go to http://www.3dsystems.com/solutions/architecture-geo to find out more.

After the Berkeley Circus, "Bloom" will tour various locations around the world. For more information about "Bloom" go to http://www.emergingobjects.com.

For more information about how 3D Systems is manufacturing the future now, go to http://www.3dsystems.com.

About 3D Systems

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3D Systems and UC Berkeley Bring Stunning 3D-Printed Cement Architectural Structure to Life

Stoke-on-Trent City Council's Civic Centre.

A COUNCIL'S constitution is set to be changed to include the role of deputy leader.

Stoke-on-Trent City Council's constitution currently defines the roles of leader and cabinet, but does not specifically mention the deputy leader.

The full council will be asked to approve an amendment which will formally establish the role.

Under the proposed amendment, if the council leader ceases to hold office, the deputy leader would take over the role until the appointment of a permanent replacement.

The council's current deputy leader is Gwen Hassall, who is also the cabinet member for social care.

Her predecessor was Paul Shotton, who stepped down after it was revealed he had sent texts to a radio programme under a series of aliases.

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PhilCorrigan published City council constitution change to define deputy leader role

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