East FiftyFive (Lamb Dev Corp/Hyde Park Homes) - Real Estate -

Not sure if this has already been asked, but any purchasers in this building on this forum? I'll be a resident on the 9th floor. Latest comm from Brad is everything is still on track for a September occupancy of the unit (which feels realistic).
 
menker said:
Not sure if this has already been asked, but any purchasers in this building on this forum? I'll be a resident on the 9th floor. Latest comm from Brad is everything is still on track for a September occupancy of the unit (which feels realistic).
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It’ll be tight. Builders always say they’re on track until.....that delay letter goes out.
 
menker said:
Not sure if this has already been asked, but any purchasers in this building on this forum? I'll be a resident on the 9th floor. Latest comm from Brad is everything is still on track for a September occupancy of the unit (which feels realistic).
Click to expand...

We are on 25 - and they said sept 2020.. but yeah I dunno if that’s realistic.
 
menker said:
Not sure if this has already been asked, but any purchasers in this building on this forum? I'll be a resident on the 9th floor. Latest comm from Brad is everything is still on track for a September occupancy of the unit (which feels realistic).
Click to expand...
I bought on the 11th floor. I think so far they are on track so even if it’s not ready by September, at least it shouldn’t be too much after. Also, they occupy by floor or a couple of floors at a time starting from the bottom...so since you’re on the 9th floor, you’ll likely be in the third pr fourth grouping of people to occupy...so likely a few weeks after occupancy starts.
 
Boo! Ok I know not related and the area is growing.. but still boo! 516CB2E6-CABE-4C9E-A032-1A80891E1E74.jpeg
 
NikoS said:
Boo! Ok I know not related and the area is growing.. but still boo!View attachment 233850
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I don't mind this - although I was surprised to see that it will use East 55's access driveway to gain access to their loading dock and parking garage elevators, so may get congested in there. According to the Planning Rationale, the easement for this shared driveway has already been acquired and registered to East 55's land title. I'm less happy with the 49 Ontario St proposal.
 
I was happy to see that they offered an electric vehicle charging station upgrade to parking spaces in this building. I wonder if this is typical now in new developments.
 
first time condo buyer here, or any property for that matter; this may or may not be a silly question, but i was wondering if anyone knew what the occupancy fee would be, or what values would be used to calculate it?
 
tortha said:
first time condo buyer here, or any property for that matter; this may or may not be a silly question, but i was wondering if anyone knew what the occupancy fee would be, or what values would be used to calculate it?
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Hi! I'm no expert but I went thru this before in another Brad Lamb building (The Brant Park) that I bought pre-construction and the occupancy breakdown was;

1. Monthly interest payment (it was 3.14%/year) on the total amount owing (purchase price minus deposit paid to date)
2. Estimated monthly property taxes
3. Estimated monthly condo fees

Add those three numbers up and that's your monthly occupancy fee!
 
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Received an email from Brad this afternoon:

"As you are aware of the COVID-19 Pandemic, we are in an unavoidable delay period. Currently we are unable to send your final occupancy date but would like to provide you with an update for your suite at East Fifty-Five. Construction is progressing well, and we are aiming to start occupancies early October and to finish mid January. We will be in touch with you in the coming months to schedule your Pre-Delivery Inspection (PDI) and firm up your occupancy date."
 
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