Toronto Boutique Condos | 106.37m | 35s | Urban Capital | ZAS Architects

[aiekon]

I completely agree. I spoke with a construction worker on the site the other week and was told that they are only going to be hitting street level in December. I believe that they may intentionally be slowing down progress as ground breaking for phase 2 will begin very shortly.

 

[DZ2007]

Seems to be going super slow.

You're right, it's absolutely crawling. I think Phase 1 will be done at the time they're saying phase 2 will be done, April 2010. And as for Phase 2 ... I'm predicting a full two years after the initially-promised move-in date: November 2010.

 

[isittimetomoveyet]

Don't be surprised if their Malibu project is any indication. They take their time...

 

[DZ2007]

That's right. The sales office for Malibu opened on the site there in August 2003 ... and the first occupancies are just this week, almost five years later. Brutal.

 

[Condo Lover]

That's right. The sales office for Malibu opened on the site there in August 2003 ... and the first occupancies are just this week, almost five years later. Brutal.

Is this the Malibu on Bathurst and Lakeshore????? Ocupancy this week? Are you kidding? No way, if I have the wrong Malibu building I apologize, but if it it's this intersection, there's no way.

 

[Condo Lover]

The unit I looked at was 520/sq ft with the bare minimums. With the upgrades I looked at (some bathroom upgrades, cabinet upgrades - basically to have a similar unit to the model suite), it was going to come to nearly 600/sq ft.
I liked the idea of having a rooftop lounge and pool with the cabanas, but regardless, for those prices I could buy in Yorkville.

I don't know if you did the right calcs, I bought in Dec of 2005, a 761 sq ft unit for $397/sq ft and that includes one parking and locker, basic finishes with $8,000 in upgrades to be selected. Occupancy is now Sep 2009 unless changed in future.

I have the original price list and a revised one and the penthouses start at $433 sq ft and also at $457 sq ft, didn't find anything close to $600 sq ft.

If they were at 600, I agree I'd look in Yorkville, although they're heading way up now as well.

 

[isittimetomoveyet]

Is this the Malibu on Bathurst and Lakeshore????? Ocupancy this week? Are you kidding? No way, if I have the wrong Malibu building I apologize, but if it it's this intersection, there's no way.

You got it right. By the time I move in, I will have purchased just shy of four years ago, and will have been delayed over 2 years in total. Brutal. And not a damn thing the head office would do for any of us.

 

[Granny]

Brutal??

Five years from purchase to possesion?
What did it sell for then?
What willit it sell for now?
Sounds like an investors wet dream to me.

 

[urbandreamer]

Digger poised to begin phase two this week?

Today:

 

[DZ2007]

Is this the Malibu on Bathurst and Lakeshore????? Ocupancy this week? Are you kidding? No way, if I have the wrong Malibu building I apologize, but if it it's this intersection, there's no way.

Yes way. They are occupying the lower floors (up to 8th floor I believe).
It's still a mess there, obviously ... they're also trying to launch a new project at the same time, called LTD, which I don't understand why they didn't just call it Phase 2 of Malibu

 

[DZ2007]

I don't know if you did the right calcs, I bought in Dec of 2005, a 761 sq ft unit for $397/sq ft and that includes one parking and locker, basic finishes with $8,000 in upgrades to be selected. Occupancy is now Sep 2009 unless changed in future.

I have the original price list and a revised one and the penthouses start at $433 sq ft and also at $457 sq ft, didn't find anything close to $600 sq ft.

If they were at 600, I agree I'd look in Yorkville, although they're heading way up now as well.

Well some of the suites currently are at 600, that's a fact, check the current price list. But if you have the original one, would be really cool to see, I so regret discarding mine back in late '05. Is there any way you could possibly scan yours and upload it here?

 

[DZ2007]

Five years from purchase to possesion?
What did it sell for then?
What willit it sell for now?
Sounds like an investors wet dream to me.

Good point - I forgot to mention that the 400-sf units at Malibu were selling for a jaw-dropping $99,000 when they first started going on sale in late '03.

 

[interchange42]

... they're also trying to launch a new project at the same time, called LTD, which I don't understand why they didn't just call it Phase 2 of Malibu

They realized that the design of the LTD project just doesn't evoke Pacific breezes, surfers on crashing waves, and bikini-clad girls the way that the Malibu project just screams it!!!

Anyway, this is the Boutique thread. Why are we dissing/discussing Malibu here?

42

 

[aiekon]

Well some of the suites currently are at 600, that's a fact, check the current price list. But if you have the original one, would be really cool to see, I so regret discarding mine back in late '05. Is there any way you could possibly scan yours and upload it here?

I think I still have a price list from January 2006. I'll scan it when I have a moment

 

[Condo Lover]

I can't scan the Boutique price sheet onto here but I can retype it, so here is the price sheet I have when I bought my unit in fall of 2005:




Bachelor 430 sq ft from $132,400
Jr. 1 bedrm 424 sq ft from $137,400
1 bedroom 501 to 594 sq ft from $164,900
1 bedrm + den 644 to 715 sq ft from $211,400
2 bedroom 718 to 1,051 sq ft from $215,900
2 bedroom + den 1,071 sq ft from $455,900
Lower PH/Loft 606 to 1,405 sq ft from $259,900


SCHEDULED OCCUPANCY: SEPTEMBER 2008

MAINTENANCE FEES ESTIMATED AT APPROXIMATELY $.42 PER SQ.FT.
PROPERTY TAXES ESTIMATED AT APPROXIMATELY 0.92% OF PURCHASE PRICE
pARKING $27,000 AND LOCKER $3,500


Does anyone know what in the world is holding up this construction? It's been the same hole now for months. I am going to call tomorrow but just wondering what others know about the really slow pace of construction. Don't tell me they are waiting to start the tower now as well and have construction working in unison with the tower are they?????