Both. People I talk to are unwilling to buy condos now. It's not like before where everyone was doing all they could to buy one. They're a lot less affordable now. It's good to see these incentives though....but too little too late.Current phase 1 offers:
- Podium Suites : 6% CASH BACK
- Tower Suites : 3% CASH BACK
- FREE Assignment Fee
- Up to $28,500-$55,000 OFF the "Suite of the Month" Units
- 2 YEAR RENTAL GUARANTEE on selected suites ($1,420 TO $2,400 PER MONTH)
- 2 Years of FREE MAINTENANCE on all 2 bedroom suites
- As little as 10% down payment
- Extended Deposit Structure (20% in 450 days)
$2,000 on signing
Balance to 5% in 30 days
5% in 120 days
5% in 270 days
5% in 450 days
Looks like they're really looking to move units - sign of market saturation?
Ridiculous prices. This is going to be one disaster of a building if it's ever finished.The builder launched at $800 a foot and flopped the launch. They adjusted with incentives to get some suites in the 650-725 per foot range and blew out a good part of the building. The remaining suites are at about 800 per foot in the tower and 725 + per foot in the podium.
Would love to see this one flop and revert back to a Sutton Place hotel.They updated the banner on the south-facing facade.
-"Construction start" - but no start date noted LOL. The website says "construction underway". Really - where? They have nothing going on at the site.
-"Condos from the $270's" (Previously it was "from the $300's", so they appear to have dropped prices on the smallest units.)
You were right, they've abruptly delayed my occupancy date to July 2020. And it is not covered under Tarion, I'm not even eligible for any sort of compensation.From what I understand the building is not covered under Tarion warranty. Lanterra is providing a 2 year warranty. I would have concerns about purchasing in a building not covered under Tarion. There would be no governance process or anything to keep the builder honest. Some builders it is not necessary because of their commitment to service....