Faltering Canadian billionaire puts Halifax mansion up for sale for $14.9 million
Atlantic Canadian billionaire John Risley, whose investment firm has already sold artwork and aircraft to help pay down more than $1 billion in debt, has now put his waterfront Halifax mansion up for sale.
The asking price for the four-bedroom, seven-bath, 10,467-square-foot stately residence at 5964 Emscote Drive, a tree-lined street in an upscale south-end neighbourhood, is $14.9 million, according to a new listing from Duckworth Real Estate’s Piers Baker.
The property, and the neighbouring mansion at 5964, are owned by Risley through a holding company separate from CFFI Ventures — a corporation staring down more than US$770 million in debt, much of it from a 2017 US$250 million loan that has ballooned under increasingly punishing interest rates and missed payments, according to court filings obtained by Financial Post .
In an effort to stabilize its finances, CFFI has asked the court to approve a restructuring plan that would transfer its assets and liabilities to a new company largely controlled by creditors and led by a New York-based investment firm.
CFFI is also facing battles with creditors, including a lawsuit from a long-time associate, Newfoundland businessman Brendan Paddick, who claims the company defaulted on a loan and owes him more than $22 million, plus interest.
When contacted by National Post, Risley politely deferred to his wife and Baker. (Risley, at last report, was married to skincare entrepreneur Amy Risley, formerly Gordinier-Regan.)
A 20 per cent downpayment on the list price is just shy of $3 million, but new owners will also need almost a quarter-million for the land transfer fee on top of that. Its tax assessed value as of 2025 is $10.5 million.
Located minutes from 195-acre Point Pleasant Park, Risley’s luxurious home is located on a one-acre lot with 120 feet of ocean frontage overlooking the Northwest Arm, an inlet parallel to Halifax harbour, home to the Royal Yacht Squadron and dotted with marinas and private docks.
The property was newly built in 2018 and designed by Philip Mitchell Design , which “specializes in luxury bespoke homes.”
It features a limestone and cedar shingle exterior, with copper roof gables, multiple chimneys for the 11 wood-burning fireplaces within, and custom double-hung window frames made of eastern white cedar.
Inside, floors from top to bottom are made from Montana reclaimed flooring planks, hand-carved railings and fireplace mantle pieces, and high-end lighting.
An impressive kitchen, meanwhile, includes a brass pot hanger, custom cabinetry, a cast iron stove, a gas-powered cooktop and two ovens, along with several fridges and dishwashers.
“If you look up, there are so many gorgeous details within this home; meticulously crafted crown mouldings, coffered and barrel-vaulted ceilings, and the piece de resistance — a custom glass ceiling with pendant light gracing the circular stairwell,” the listing reads.
The home also has its own elevator accessing each of the four floors, a back-up generator, in-floor heating, a geothermal heating system and a software ecosystem for audio, video, security, cameras, lighting and environmental control, among other comfort features.
In the rear, a “terraced grade allows for multiple slate patios and an expansive lawn with a fenced-in dog run,” all illuminated with gas lighting.
The home shares its lawn with the manse next door — another 11,000-square-foot, four-bedroom, seven-bathroom home, also owned by Risley. This one, however, includes a swimming pool.
The former co-founder of seafood giant Clearwater Seafoods purchased 5956 Emscote for $5 million in 2015, a year after he paid $3.5 million for 5964, according to provincial records obtained by the Halifax Examiner .
Both existing homes, stately but much more modest based on available Google Street View images , were demolished and fully replaced with new ones by 2019.
In 2021, Risley sought the city’s permission to connect the properties with “an enclosed structure allowing internal access between the dwellings ,” but was denied because the city ruled it contravened the neighbourhood’s land-use bylaw.
He appealed directly to the Halifax and West Community Council, explaining that he hoped to have one home with two kitchens — one private and the other for entertaining guests and hosting fundraisers.
“If you were to, for some reason, say no to our request, then we would have to consolidate the properties,” Risley told council over the phone, as reported by the Examiner . “We would have to go to great expense to tear out one of the kitchens, which is obviously not something we want to do, and then we wouldn’t be able to use the property as we had intended it because we’d only have one kitchen.”
While none of his neighbours seemed to object, Risley and his team were ultimately unsuccessful in winning over enough of the council, which voted 4-2 against his request.
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