King West Life in Liberty Village (Plazacorp) - Real Estate -

Interest...

I am extremely surprised that there is not more interest in this project. The model suites were stunning and come fully upgraded. It includes parking and locker. If you subtract the parking and locker it comes out to about $380 / sq ft.

Area is nice as well, dominion, bank, lcbo. blockbuster etc just down the road.

Am i missing something here :)....lol
 
The deposit structure was extremly brutal. It comes up to around 25% within 6 months. That was the issue. If you can manage ten percent down, then you are able to arrange financing for the rest, but otherwise your out of luck.

Thats the real reason this one wasnt, lined up around the block....You need 25% up front
 
Project?

Thanks Jason!

I figured that had a big part to play...

What is your take on the project? I am really liking location, floorplans, price, area etc...

Thanks...
 
I've been there all week, trying to reserve units for my clients for Sunday. I like the project, everything you mentioned is great. There are over 120 floor plans which make it all very confusing. The more time I spend looking through them, the more familiar i get, and like the project.

The prices are great for the area. The builder is good. The high deposit structure and the fact that you cannot assign the unit at all after purchase, not even within the first ten days, really kept people out of the VIP event.

I love the free parking and locker.....with those prices, its really a great deal.

If anyone wants to preview prior to Sunday and reserve a unit the call 416 823 7078.
 
I thought about buying a unit there, but there are going to be over 1000 units in this project alone! What happens if the market turns? You and 500 other investors will be selling at the sametime. Plus, the price is not good enough you can rent it out and breakeven so you are not "forced" to sell when the project is finished.

If I was to buy there i will expect the price to be a lot better than this!
 
If the market turns so hard that 500 people in your building are going to have to sell, the least of your worries will be that there is a thousand units in your building.

Look what happened in the U.S. The market crashed and rents in major cities rose up to and around 12 to 16%. If you think that the market is goanna crash, you can still make some scratch, you just have to buy with the intention of renting out.

and 255 for a one and a den with parking and locker included is hardly a bad deal. You can't find a better deal in that neighbourhood. Pre or Resale.
 
Jason_Mycondonetwork.com said:
The deposit structure was extremly brutal. It comes up to around 25% within 6 months. That was the issue. If you can manage ten percent down, then you are able to arrange financing for the rest, but otherwise your out of luck.

Thats the real reason this one wasnt, lined up around the block....You need 25% up front
Click to expand...

Both of my clients were able to do a 10% deposit structure last Sunday as long as they got mortgage approvals for 90% so for them it was an easier sell. Let me know if you anyone here would like me to talk to the sales office about offering you 10% down. I have access all week to the project and I can bring you in on Sunday. PM me if interested.
 
i went to their site today thinking it was the public showing with the intent of purchasing two units. one to live and one to rent. i was quite bluntly turned away since i didn't have an agent with me despite having registered on their web site (no i didn't get an invite email)

long and the short is it turned me off the project due to the treatment i got. i do see the value in agents in selling and buying resale, hell even renting sometimes, but it amazes me how rude they were considering they wouldn't have to pay me a commission on possibly two units. i know it's business and i shouldn't take it personally but i think i'll pass on this and let the builder pay their stupid agent fee seeing they're intent on throwing money away. not like there's not good deals out there with the market the way it's heading.
 
You may like it or not but that's the way the initial sales at most new projects work. And I don't approve of treating a potential custoner rudely. But make your decision more logically, based on the merits of the project (price, location, amenities, etc.) as opposed to being turned away when you showed up prematurely.

As for the earlier comment about the large size of the project, this does not make it more likely or less likely that there will be problems, if the market turns downward. Projects, either large or small, would run into problems or not based on the market value they offer. You may fool yourself if you think a project offers more insulation against a market turn just because it's smaller. I know of no reason at all why that would be so.
 
stipe said:
i went to their site today thinking it was the public showing with the intent of purchasing two units. one to live and one to rent. i was quite bluntly turned away since i didn't have an agent with me despite having registered on their web site (no i didn't get an invite email)

long and the short is it turned me off the project due to the treatment i got. i do see the value in agents in selling and buying resale, hell even renting sometimes, but it amazes me how rude they were considering they wouldn't have to pay me a commission on possibly two units. i know it's business and i shouldn't take it personally but i think i'll pass on this and let the builder pay their stupid agent fee seeing they're intent on throwing money away. not like there's not good deals out there with the market the way it's heading.
Click to expand...

I was there yesterday and I am actually surprised you got turned away because yesterday was the opening for people with or without agents that registered on the Web and these people were given a VIP day to purchase. I was there with a client because she actually registered on the webiste and was invited to come. She asked me to accompany her to help her with the buying process, but she was already on the list so she would have been able to go in and purchase without me.

I have access all this week to go into the project so if you would like I can take you in anytime during the week. You can't purchase anything till next Sunday but at least you will have an idea of the finishes (which I have to say are absolutely amazing..all standard) along with prices and locations in the building.

Also I am in talks with the developers to provide an assignment clause so to make it more attractive to purchasers in this project.

PM me if you are interested in going anytime this week to see the project.

Don't be discouraged about what happened on Sunday, as Obersver Walt said, look to the merits of the project. I really like this project, the price per sq foot is great, the finishes are amazing and I may be biased because I live in liberty village, but I love the location.
 
King West Life...

Is there any updates as to the amendments anybody has successfully gotten approved by the builder for this project?

Thanks..
 
I was able to work something out with the builder that lets my client change title of the unit within the 60 day window before the unit closes. My client would still be on title until the day the unit closes, but after the closing date it would go under whoever took over the title....

There not advertising that thou.....If you want to have a look prior to the public sale, then pm me...
 
Architecture

This building is really starting to grow on me. It has a uniques design that sets it appart from all those cereal box buildings and fits the spirit of the area quite well. Any idea who is the architect? I haven't been able to find any information.
 
I think this building is decent, but not outright amazing ~

Plazacorp clearly got design cues for King West Life from West Harbour City as there are many similarities in the built form & massing. However, I think 3 connected towers (with first tower @ 400+ units) translating to 1100+ units in the entire complex is a bit too massive for pleasant living environment.

IMO would have been nice if they spent some more time to design it as two separate complexes with distinct architecture .
 
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