250 Lawrence West (Graywood) - Real Estate -

msule said:
I was at the site yesterday. Tried to talk to one of the contractors. Said he couldn't share anything with buyers. My occupancy is in November and he expresesed confidence that they would be ready by then. I am a little doubtful of that timing. Not sure if anyone else has an earlier occupancy and then can see if there are any further delays.View attachment 478169View attachment 478170View attachment 478171View attachment 478172
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My occupancy is in October, are you a high floor ?
 
My occupancy is November 27 and am also on the 7th floor. Likewise, the correspondence I received from the builder is that by the end of August I am to be advised if there will be any further delay. Thanks very much for posting the latest photos.
 
Given that my Second Tentative Occupancy Date of Oct. 31, 2023 and Final Tentative Occupancy Date of November 27, 2023 is only a month apart I expect my Final Closing Date would be around beginning January or the end. Lower floors may just make it in before Christmas!!
 
Van Der Sluys said:
Given that my Second Tentative Occupancy Date of Oct. 31, 2023 and Final Tentative Occupancy Date of November 27, 2023 is only a month apart I expect my Final Closing Date would be around beginning January or the end. Lower floors may just make it in before Christmas!!
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Closing required the whole building to be complete and registered. So we’ll both be closing on the same day
 
My understanding is that new condos are occupied once nearly completed floor by floor and are in a status of Interim Occupancy with the building being Registered months or even a year later when it is totally complete and all the units are occupied. During that period one pays Interim Occupancy fees and pays for one's unit once it is Registered. Perhaps I am wrong.
 
GavinBilen said:
Closing required the whole building to be complete and registered. So we’ll both be closing on the same day
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Van Der Sluys said:
My understanding is that new condos are occupied once nearly completed floor by floor and are in a status of Interim Occupancy with the building being Registered months or even a year later when it is totally complete and all the units are occupied. During that period one pays Interim Occupancy fees and pays for one's unit once it is Registered. Perhaps I am wrong.
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1. Registration has nothing to do with, does not depend on the level of occupancy. Registration takes place once the developer has submitted all the required documentation to the City, the City has completed its reviews, the developer has remedied any deficiencies identified by the City, received City approval, and the City has submitted the required Registration documents to the land registry office. One development, the Berczy at Church and Front Streets was actually registered BEFORE occupancy started!. Other buildings have experienced extended, up to year long plus periods of interim occupancy because thei respective developers were unable to complete the necessaryt documentation to the City's requirements. Nothing at all to do with the actual level of occupancy,

2. Once a building has registered, closings typically take place on a progressive basis over a number of days - not all on the same day. It is a matter of logistics for the amount of legal work to be done by the Developer's lawyers and support staff. There is no way that the registration documents for scores or hundreds of units can be prepared and processed for submission to the new owners, signed and registered at the land title office on the same day. While much of the required documentation can be prepared in advance, the closing adjustments for each transfer of ownership have to be individually calculated for each sale as of its date of closing.
 
AHK said:
1. Registration has nothing to do with, does not depend on the level of occupancy. Registration takes place once the developer has submitted all the required documentation to the City, the City has completed its reviews, the developer has remedied any deficiencies identified by the City, received City approval, and the City has submitted the required Registration documents to the land registry office. One development, the Berczy at Church and Front Streets was actually registered BEFORE occupancy started!. Other buildings have experienced extended, up to year long plus periods of interim occupancy because thei respective developers were unable to complete the necessaryt documentation to the City's requirements. Nothing at all to do with the actual level of occupancy,

2. Once a building has registered, closings typically take place on a progressive basis over a number of days - not all on the same day. It is a matter of logistics for the amount of legal work to be done by the Developer's lawyers and support staff. There is no way that the registration documents for scores or hundreds of units can be prepared and processed for submission to the new owners, signed and registered at the land title office on the same day. While much of the required documentation can be prepared in advance, the closing adjustments for each transfer of ownership have to be individually calculated for each sale as of its date of closing.
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Thanks for posting! Much appreciated! That makes sense and is very clear. Interesting that the Berczy was registered before occupancy started.
 
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