Upside Down + Fuse Condos (Channington/Brownstone, 14s x2, 26s x2, Burka)

jim99 said:
Rik,

Any explanation as to why the entrance on Lappin can not be used? I know for a fact that the builder's model of the community has an open access entrance on it from Lappin, which I'm assuming you've seen??
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This is what has been told by Rob Falus to me.

The factory owner on Lappin did not want to have the access because it will interfear with his driveway. It went to the city and they sided with the owner, the driveway can only be used by emergency like fire services
 
Rikk said:
This is what has been told by Rob Falus to me.

The factory owner on Lappin did not want to have the access because it will interfear with his driveway. It went to the city and they sided with the owner, the driveway can only be used by emergency like fire services
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so why does 1 entrance provoke higher maintenance fees?
 
realestatedreamer said:
so why does 1 entrance provoke higher maintenance fees?
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Well the higher traffic using only one entrance, not to mention the exsisting driveway has been in place for 6 years now and this will be used by the condos. The condition of the driveway is not great now, and when does need to be replaced guess who will be forking the money over to the Standard. The builders warrenty will only cover the boundries of the condo if there is any repairs that need to be done, and since the properties will be using that driveway any needed work done will come out of the corporation.
 
Rikk said:
Well the higher traffic using only one entrance, not to mention the exsisting driveway has been in place for 6 years now and this will be used by the condos. The condition of the driveway is not great now, and when does need to be replaced guess who will be forking the money over to the Standard. The builders warrenty will only cover the boundries of the condo if there is any repairs that need to be done, and since the properties will be using that driveway any needed work done will come out of the corporation.
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wow that really sucks, oh well what we can do, all this always happens after the fact, who would know this buying at a sales centre. anyways i just hope they finish by summer 2012 so I can sell and invest elsewhere.
 
well if you bought on a higher floor like myself then your looking at a spring 2012 occupancy date. i just want to see them get start asap so i know my investment is secure and that it wont take longer then that to move in
 
benberly14 said:
well if you bought on a higher floor like myself then your looking at a spring 2012 occupancy date. i just want to see them get start asap so i know my investment is secure and that it wont take longer then that to move in
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What is your facing, and when did you make the offer to purchase.....? There are only a few units left and all the ones on 14th I think are gone.....
 
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Rikk said:
What is your facing, and when did you make the offer to purchase.....? There are only a few units left and all the ones on 14th I think are gone.....
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we bought on the 13th floor east facing and i purchased in october the 608 unit? what about you if you dont mind me asking
 
benberly14 said:
we bought on the 13th floor east facing and i purchased in october the 608 unit? what about you if you dont mind me asking
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Hey,

We bought in 2008, 14th SE facing 735 sqft ( it was not listed in the floor plans) there were only 3 units of this size, there are windows in teh den, and windows on 2 walls in the bedroom.
 
I wonder if it would be possible to sell now and just take the money. Looking back, maybe it would have been smarter to buy a condo unit somewhere that was already built and just swallow the 'used' feeling when moving in without all the new bells and whistles of a brand new unit . I bought on the 6th floor, corner lot facing north/west at 866 sq. feet. Know anyone buying? haha!
 
Application: Partial Permit Status: Under Review

Location: 816 LANSDOWNE AVE
TORONTO

Ward 18: Davenport

Application#: 09 199695 FND 00 PP Accepted Date: Oct 1, 2010

Project: Apartment Building Partial Permit - Foundation

Description: FOUNDATION PERMIT FOR BUILDING F - Part Permit - Construct new 14 storey residential apartment building (Building F) on former lands occupied by American Standard containing 297 residential dwelling units complete with two levels of below grade parking. Refer to related permit for new apartment building located at 812 Lansdowne Ave-Building E.


PP Zoning Review Oct 7, 2010 Closed
PP Code Review Nov 5, 2010 Deficiency
Plan Examination Sarkhosh, Sam
so what exactly does this mean? Nov 5 2010 Deficiency?
 
mortgage approval request!

not sure what that foundation permit means but...

In other news, i got a call the other day asking for proof of a mortgage application approval. I went into the office and overheard her saying that because of the economic downtown they are requiring confirmation from everybody that they can pay for their condo. I assume others have received this call as well. This might indicate that things are moving along but it also indicates uncertainty on the developer's part in being able to profit from this development.

I'm assuming that most condo's don't end up doing this because if anyone defaults on their contract (i.e. aren't able to get a mortgage) they can simply sell to someone new, quickly. Requiring this indicates to me that they are less confident in being able to quickly sell units once the condo goes up.

As a worst case, (and this is just pure speculation), the developers are having trouble securing financing and their creditors have asked them for more security on their investment.

any thoughts?

rob
 
bermybob said:
not sure what that foundation permit means but...

In other news, i got a call the other day asking for proof of a mortgage application approval. I went into the office and overheard her saying that because of the economic downtown they are requiring confirmation from everybody that they can pay for their condo. I assume others have received this call as well. This might indicate that things are moving along but it also indicates uncertainty on the developer's part in being able to profit from this development.

I'm assuming that most condo's don't end up doing this because if anyone defaults on their contract (i.e. aren't able to get a mortgage) they can simply sell to someone new, quickly. Requiring this indicates to me that they are less confident in being able to quickly sell units once the condo goes up.

As a worst case, (and this is just pure speculation), the developers are having trouble securing financing and their creditors have asked them for more security on their investment.

any thoughts?
rob
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Hi Rob,

As from what understand from talking to Amy i that all buyers must have an approved mortgage if not then the purchaser would be in in jeperdy of being in default.

I am not sure why they would be requesting it at this time but it does make sence that the builder would need to have a proof. I am not too sure if this is positive as in the starting of the building phase..but it does sound promosing....as some mentioned ealier....If I had know this would been an issue as in the length of time to build I would have thought twice, but then again it has given me lots of time to save for a larger down payment.

But I have been told that Tom Falus had the funding ready for phase one about 4 months ago, it was pase two which he was going to a bank to secure the funding to build.....phase one is ready to be built...its just waiting on the permit....but again I think the developer has been slow in getting the documents into the city......this should have been started now. Also I have chatted with the lawyer who is representing the developer...and he thinks if they had not started now then the move in date of 2011 Dec. is not going to happen.

R.
 
Hey Everyone,

Thanks for the info that everyone has posted. Sorry that I haven't said much as I've been out of town with limited net access, but I'm back. If anyone is planning on sending an email, I too am interested in part-taking. As for where I bought, I bought on the 3rd floor, facing west.
 
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