East Construction Update
November 30, 2009
To All Purchasers of Units at 275 King Street East, Toronto, Ontario
RE:
East Lofts – Construction Update
275 King Street East
Dear Purchaser;
We wish to provide you with another update on the construction progress at East.
Elevators are complete, inspected and certified.
All services have been installed and thus all utilities, including sewer, water, gas, Bell, and Rogers are
now complete.
All exterior work, including glass, roofing, brickwork, exterior aluminum railings, and decorative
aluminum cladding are now essentially complete. (We are awaiting some material at the north west
corner of the building, which is basically esthetic and does not affect the building envelope).
The sidewalk and rear lane have been fully restored.
Final suite interior drywall installation, taping and sanding will be essentially completed this week.
Final painting, tiles, and flooring are complete to the 10th floor and being installed on the 11th floor
and kitchen installations are completed to the 9th floor and progressing to the 10th floor. Further all
materials, including flooring, tiles and kitchen cabinets are on site or in Toronto area warehouses.
Please note that the corridor carpet will not be installed until the majority of the suites are occupied.
This is to prevent damage during move-ins.
The parking garage is substantially complete.
All major pieces of equipment are hooked up.
Life safety inspection and certification has begun and fire marshal and building inspectors have been
lined up for mid-December.
OCCUPANCY
We are confirming occupancy on January 15 for floors 3 to 7, and February 1 for floors 8 to
penthouse.
Beginning December 1, we will be conducting Pre Delivery Inspections (PDI) of each purchaser’s
suite. You will be called about two weeks ahead (beginning November 16th) to arrange a date and
time convenient to you to walk through your suite and inspect for deficiencies. Our PDI contact and
the person who will call you is Myron Feshanets. If you are unable to personally attend, you may
make arrangements for someone else to do your PDI.
You will receive a “Home Owners Manual†which will contain information about the appliances,
warranties, controls, materials used, such as flooring and tile, and their care. The package will contain
contact numbers for telephone and cable providers. A contact number will be provided for the
Building Manager. Purchasers should contact the manager for reservation of the elevator for move-in.
Also on this visit, parking and locker locations will be assigned, if applicable.
We will endeavor to rectify all deficiencies before your occupancy. After occupancy, you will have
30 days to send us a “30 Day Deficiency Listâ€. We will then come in to do any minor adjustments,
which we missed or may have come up. On moving, there are always some nicks and scratches. On
our 30 day visit, we will do touch-up painting, including any minor repairs due to moving.
After the PDI, your lawyer will be sent an accounting of the Interim Occupancy Fee. (This fee is
composed of three parts; 1) property tax, which is assume at 1% of purchase price, and will be
adjusted to actual tax on closing; 2) interest, essentially a mortgage based on the remaining
outstanding balance of the purchase price after initial deposit; 3) common fees, which are your
proportionate share of the operation of the condominium as given to you in the “Disclosure†when
you purchased the unit.) You will be required to provide post-dated monthly cheques, including a
certified cheque for the first month’s occupancy. On receipt of these cheques, our lawyer will inform
the building manager, and instruct him to release keys, garage clickers and key fobs. It is our
experience that confusion is caused because the legalities are not completed at the appropriate time,
resulting in the Building Manager being unable to release keys, etc. Further inconvenience is caused
by late or untimely arrival of movers, which disrupts access to elevators for others. Please give
yourselves comfortable windows for both these activities.
Please note that the mailing address will be: 138 Princess Street, Toronto, Ontario, M5A 0B1.
We have been able to secure discounts for Purchasers of units at East, from several local furniture
stores. Myron will be able to provide you with names of stores if this is of interest to you.
Please continue to check the website for updated photos and our next written update, which we will
post in early January. At that time we will try to outline the procedure and timeframe until final
closings.
We again thank you for your purchase in East.