Featured Project
Every month, we highlight one project we've worked on - showcasing our approach and impact (with client permission, of course!).
Cataraqui Commons
Kingston, Ontario | Developer: Sterling Maple
Project Overview
Cataraqui Commons will be a multifamily development focused on affordable housing and sustainable building, proposing over 590 units in three phases. The project aims to address critical housing needs in Kingston while incorporating forward-thinking environmental practices.
The Challenge
Sterling Maple was working with a fragmented financial model that required time consuming manual updates to accommodate new structures or modeling mechanics. Each phase of the project was built in a separate model, leading to inefficiencies and a lack of cohesion. The model wasn’t designed for scenario analysis, requiring manual reworks to accurately reflect an evolving and complex capital stack, particularly given the use of non-standard debt structures.
Our Solution
We worked closely with Sterling Maple to replace their models with a single, intuitive solution. Our goal was to make the model both powerful and easy to use - capable of analyzing different scenarios, adapting to changes, and accurately reflecting the capital structure.
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Here’s what we focused on:
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Consolidated all three phases into one streamlined, cohesive model
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Enabled scenario analysis for more flexible, strategic decision-making
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Accurately modeled complex and uncommon debt structures
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Advised on deal structure, offering alternative paths to viability
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Improved usability, reducing manual input and increasing clarity
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The Impact
With a clear and comprehensive model, Sterling Maple was able to engage with lenders, structure funding appropriately, and bring a complex development one step closer to reality - even in a tough Southern Ontario market.
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Key results:
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Engaged lenders with a clearer and more compelling financial story
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Structured the capital stack to reflect project realities and financing needs
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Gained clarity on partner contributions and funding gaps
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Enhanced credibility when presenting the project to stakeholders
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Moved confidently forward in a challenging market environment
Phase 1