News   May 10, 2024
45 Storeys Proposed to Replace 10 Storeys in Islington Village
 830     0 
News   May 10, 2024
Crane Comes Down at Menkes' Festival Condos as Phase 2 Breaks Ground
 1K     0 
News   May 10, 2024
LCH Developments Launching Cliffside Condos Above the Scarborough Bluffs
 970     0 

Mode Lofts Condos (Cresford Developments) - Real Estate -

30k that's it eh? actually that is around what i was expecting... well the prices had gone up so much now, even with 30k discount, we are still quite a bit worse off... besides, i don't see any other cresford projects i would be interested.. with the exception of casa.. but that cost quite a bit more than Mode...
 
mode area is the place

Your right, I bought into the area more than the building. The other sites suck so the 30k credit means nothing to me.
 
The 30K credit, is this what everyone is getting? Shouldn't it be proportional to how much you spent? How much was the unit you bought/got cancelled on to get a 30K credit?
 
i got the guy to scan the letter and send it to me......

What does the release say ? ( I only have the letter)
As much as they are complete idiots - they would not offer us the 25 (or 30K) credit for no reason.

They are not doing it to be 'nice' - their lawyers might have advised them that they would be on the hook this - and they are trying to parlay it into increased sales for their buildings..

Personally, I do not like the locations fo any of their projects -

We should all get together and discuss the situation - clearly, many will take the credit - if the release includes something to the effect of 'no further legal action, I would be hesitant to do so.
 
i am going to run home for lunch to check my mailbox and i will let you guys know what i got! i will for sure consult my lawyer before i take any action...Just called CASA sales office and they are all about 450 per sqft and more and i only paid 330 per sqft.. damn...
 
Just to save everyone time, I just called Casa as well, here's what I found out. For more than the price I paid at Mode, I have to downgrade almost 200sqft and lose a bedroom!

I'm going to ask for more credit stating it's an insult what they are offering us. 50-60K at least in my opinion. At least put me in one of your other projects within 10% of the price I paid for the same size.

CASA Info:

20% remaining
Parking is $35000

734 sq ft - 1 BR - 344900 - High Floor
807 sq ft - 2 BR - 423900 - High Floor
840 sq ft - 2 BR - 388900 - 11th floor
 
Just got my letter too.

States that you must use the credit by the end of the year and is non-transferable. Also states that they are in the process of re-designing the new building and apologize that they cannot offer us a unit in this new building. Now that is a hunk of crap, the least they could have done was offer us that. But they know they can get so much more money for it now. Who wants to bet they release the new building in January of 2008 after our 30K credit expires?

I think this is really bad faith on their part, I think we may have a court case if they design a building of similar height but market at higher prices. Anyone speak to their lawyer yet on what are options are as a group? If we sign the release, I think we'll have no more legs to stand on.
 
I agree with the above - We need to form a group that finds this proposal unacceptable, and proceed. We must have a case, else they would not offer this.

We definately need to speak to a lawyer - DOES ANYONE KNOW OF A GOOD ONE - ??


Again, if we do not work together, it will be more costly and less effective.
 
condo price

SUMBODYHELP said:
The 30K credit, is this what everyone is getting? Shouldn't it be proportional to how much you spent? How much was the unit you bought/got cancelled on to get a 30K credit?
Click to expand...

I paid 310k for almost 1000 square ft on the 3rd floor. The other locations suck (as I previously stated). If there is any way we could screw these Aholes I'm all for it. I would like to 30k cash ,no credit on a crappy location and condo.
 
Did anyone hear back from the CBC reporter, we should send her an update. Honestly, the only other property that I would consider would be the MYC condo, but this project isn't even out, not even sure it will be out by the end of the year.

How about this as a plan, one of us should book a meeting with Jerry Cino, the person in charge, we should all show up to this meeting as a group together, power in numbers. But we still need a plan of attack, at least have threats with substance if we want more. At the minimum, I want a credit for the new building, the location I chose in the first place. This can't be right. They must have screwed up somewhere.
 
I have been keeping in touch with the reporter - We spoke very briefly, but I think the best course of action is to see what is available to us before we speak to the reporter.

I am taking next week off and will be around the city - I am happy to do a lot of the legwork - I think we should all meet first and discuss what we hope to accomplish -
I will contact everyone who has emailed the gmail account I have set up (about 10 people so far) to set up a suitable time -

I am hoping all of you are around the city - I suggest an hour or two on the weekend
 
I don't have a letter yet, but I just found out about all this shite news. I'm very upset. I'm glad to have found a forum that has others going through this. Screw Mode!

Bloody hell. :mad:
 
yup got the letter. All I see is blah blah blah... blah blah, its not our fault..blah blah.. blame on OMB, blame the city just don't blame us! OH, sorry about that, here's 30k just don't sue us...
 
SUMBODYHELP said:
Just got my letter too.

States that you must use the credit by the end of the year and is non-transferable. Also states that they are in the process of re-designing the new building and apologize that they cannot offer us a unit in this new building. Now that is a hunk of crap, the least they could have done was offer us that. But they know they can get so much more money for it now. Who wants to bet they release the new building in January of 2008 after our 30K credit expires?

I think this is really bad faith on their part, I think we may have a court case if they design a building of similar height but market at higher prices. Anyone speak to their lawyer yet on what are options are as a group? If we sign the release, I think we'll have no more legs to stand on.
Click to expand...

Can someone please post the letter and sharpie out the address name please?
 
You must log in or register to post here.

Back
Top