346 Davenport (Freed) - Real Estate -

They finally started digging this week! (Drove by - no pic).

So those of you who purchased a unit in 2015 will be able to take possession in 2023. Just eight years ...
 
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shotgun2020 said:
They finally started digging this week! (Drove by - no pic).

So those of you who purchased a unit in 2015 will be able to take possession in 2023. Just eight years ...
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Why do you say that possession will be in 2023? Is this sarcasm on your part? Did you buy a unit? Are you as frustrated as I am? We would never recommend pre construction to anyone unless of course one doesn’t mind waiting 8 years until completion of a project. I was almost hoping for this project to be cancelled as there are so many nice condos out there!
 
gccb1224 said:
Why do you say that possession will be in 2023? Is this sarcasm on your part? Did you buy a unit? Are you as frustrated as I am? We would never recommend pre construction to anyone unless of course one doesn’t mind waiting 8 years until completion of a project. I was almost hoping for this project to be cancelled as there are so many nice condos out there!
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There are more than enough examples here of precon taking a long time. 5-8 years...no matter what any builder says.
 
Completion here really depends on how steady the excavation and construction process goes from here on out. There's been larger (wider) projects like the J.Davis House at Davisville & Yonge that were completed in around 2 and a half years or less, after the previous buildings on site were demolished.

This is a relatively smaller site. Under standard consistency and circumstances, a building of this scale should be completed in about 2 years. But again tougher to gauge on the follow through considering the amount of time this has been dragging on already.
 
When do you think people will be able to move in? I cannot believe I’ve already been renting almost 4 years since I sold my house. It’s really sickening how slowly this project is moving!
 
Really? That is sickening! How do you know? I think it’s horrible how the builder does not give us any updates! We cannot make any plans!
 
End of 2022 would be sooner than I anticipated. When I signed in late 2019, I was expecting maybe 2023/24 occupancy. At that time, they hadn't broken ground yet.

This would be my 3rd pre-con, so I'm used to the delays and had set my expectations accordingly. But if you aren't, then it is indeed very frustrating. On the bright side, the price/sqft in the area has probably gone up 50-80% since you signed. Look at 321 Davenport. That's pretty good ROI, especially when you only had to put down 20%.
 
Agreed...prices have definitely increased! I always look at the pricing for 321 Davenport but their amenities are way over the top! I’m frustrated because I originally bought Freed’s “Keewatin” project, waited two years for them to break ground only to find that they had canned the entire project! I was almost unable to get back into the Toronto market. I found the Davenport site and bought immediately (knowing their lies about move in dates). So, basically I’ve been trying to move back into the city since 2015. If I’d known I’d be waiting this long, I never would have sold my house. I see rental buildings going up overnight but this little building is taking pathetically long! It will be my last pre construction purchase ever! Sorry for the rant!
 
This project stalled around quite a bit until substantial activity on site begin last year around ~July 2020. The pace that this has been moving since then has been pretty steady though. End of 2022 seems like a reasonable estimate for completion. They should at least get the concrete shell of the 9 storey structure done within this calendar year.
 
gccb1224 said:
I always look at the pricing for 321 Davenport but their amenities are way over the top!
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I prefer buildings that are light on amenities. Amenities that require staff-hours (like valet parking) are expensive due to the human labour costs. And when that is divided over such a small number of units, it results in very high maintenance fees. To change the amenities requires a super-majority vote, so they're not easy to scale back to control costs.

So, the minimal amenities at 346 Davenport was for me an attractive selling point.
 
I agree 100%. I was also looking for a place without amenities! I have friends paying $1500 in maintenance fees. I belong to a club so I didn’t want any amenities. This was just what I wanted.
 
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