West Side Lofts: Thinking of buying - Tips?

[valves]

any buyers of westside lofts out there who have been affected by the recent changes

I bought one of the condos a while ago 'big mistake´and have been trying to get an straight answer for all the delays, changes, but the stuff there either are useless or have strict orders of not to say anything.

anybody has expericne on what a buyer can do to get a repsonse from the company.

I would appreciate the help

have you been into the sales office? they have changed the project completely and want all previous purchasers to cancel their deals or accept a new substitute unit...

 

[Jetta27]

I'm in the same boat. I bought a unit when the occupancy date was Nov 2008, then it changed to May 2009 and when I went over to the sales centre a couple of months (a bunch of teenagers are running the place..completely clueless of what's going on) and construction still hadn't started I did my own research. It was only then that I found out this project has been tied up in court all summer because of an activist group "Active 18". On October 30th the builders made a deal with the group, the city of Toronto and Artscape. The entire project has changed (to include rental units for low-income artists)and I wasn't notified by anyone about any of this. It was only last week that I received an email that a meeting will be set up to discuss changes to my suite. This whole situation is a nightmare. I brought my real estate agent into the loop and she went over there on Wednesday (Nov 21). Apparently they're giving buyers the option to either switch to the project that's going up on King street (the Bridge) or you can get your deposit back in full if you decide not to stick.

 

[bane60]

I just went to the westside lofts and it is a total disaster. The staff treated me like if i were a peace ofshXX and said that I only had a week to decide. worst than that i have to move floors, to a lower one or pay a 80 dollars difference per square feet. On topof that, the floors that were supposed to be 10 feet now are going to be only 9.

Is there any way one can make thier original contract binding. Can the developer do whatever he wants and go over the contract like that


anybody knows.

thanks

 

[Observer Walt]

^ $80 per square foot just as a premium for being on a higher floor? That's an outright ripoff. Just out of curiosity, may I ask how many square feet your unit is (or was)?

I suggest that you invest a bit of time and money in talking to a real estate lawyer. I knew that the project was going through a complete redesign, following the negotiations with the community group, but this is something else.

 

[bane60]

My unit is 500. What they told me is that there were no more 500 sq feet units in the 11 floor- the original one- and that i should eithr go the the 7th - in other words downgrading with no compensation or stay in the 11 by paying extra.

I am afraid the developer wants to get rid of all the previous bueyers so he can charge more.

To be honesti am seriously thinking about getting my moeny back, Urbancorp is the worst company andif they have delayed the condo for two years I doubt that after all this publicity things will go well for them.

I just want to see if there is anything I can do to protect or my contract and get the company to keep their word