SLEB: The criminal scandal behind the luxury project.
March 12, 2008 by Montreal Real Estate Blog
Filed under Development & Construction, Popular
The luxury condo development called Sleb on the corner of St. Laurent and Ontario was originally started by Minco Construction. In 2003 by Luciano Minicucci. Dozens of home buyers invested at the pre-construction level of this project.
The project started in 2003 to be completed in 2005 and that same year Minco Construction sought bankruptcy protection from it’s creditors, since then no work has been completed in Sleb. Last November the superior court withdrew the project from MINCO Corporation to give it to Bartolo Dalle Nogare (9170-6929 Quebec Inc.), the new owner.
Luciano Minicucci was arrested in Italy in mid January 2008, for extortion against the new owner of Sleb.
The new owner does not know what he will do for the existing project, leaving dozens of people fearing they will lose on their investment.
However according to l’Association de la construction du Québec it is expected that all deposits are to be returned to affected buyers.
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What an eyesore!
This was supposed to be such an important project for the revitalization of this part of St-Laurent. Right now this corner is one of the worst downtown.
It’s really a shame it’s not going anywhere…
Let’s keep our fingers crossed with the Quartier des Spectacles.
Does anyone know anymore about this story? Its interesting from a real-estate perspective, but its also interesting from a human interest perspective. What type of a man is Minicucci? Was he tied to the mob, or is he just murderous by nature? Did he just manage the project badly or was he skimming cash to make it go so wildly bancrupt?