Emerald Park Condos (Bazis International, Plaza, Metropia) - Real Estate

[Auraz]

Well,... I've been posting on Tridel's HullmarkCentre main Construction & Project thread since before they were approved,... and as folks been saying for years I've been too negative on EmeraldPark and too positive on HullmarkCentre,...

RZ12,... if someone brought EmeraldPark with an agent,... then how would that agent have protected the buyer from all these delays that we're seeing now?

Be upfront and tell them that the "developers time" is unrealistic but you'll still make "XX" amount of dollars. Our industry gets a lot of flake from part-timer agents and greedy agents. I've been nothing but loyal and honest with my clients and it has gotten me far in this business.

 

[chanmr]

Looks like that might be the case. Just got my letter and new move-in is for March 24th (from March 2nd). I'm on 26th floor of the West Tower, mind you. Seems like this is not a "real date" either.

Did they give you the same reason?

 

[sunnyraytoronto]

There's no way the retail component will be finished by March 24. Attached photos were taken today. First 2 West Tower lobby. 3rd is Retail on Yonge is drywall stage. Retail on Poyntz is shell with duct and piping. 4th and 5th is retail on Beecroft Food Court is shell with duct and piping and starting framing. Retail on 2nd floor is mainly shell with duct and piping, some framing and maybe a bit of drywall. Does all this retail space look like it'll be ready in 6 weeks?,.... more like 6 more months!,... Canada Day if lucky.

Like I said, all this talk about not being able to move in until retail is done is bull (but hey, what do I know, I'm not an agent!),.... look at HullmarkCentre across the street - south tower condo moved in Dec 2013 and retail is just finishing up now. Look at GibsonSquare, condo have moved in months ago,... retail still not finished and won't be until the Fall.

My suggestion,... call city planning or the local councillor office to find the real reason for delay.

 

[sunnyraytoronto]

This developer and builder needs to give everyone a firm date and stick to it,... instead of constantly jerking everybody around by 2 weeks here, 3 weeks there, another 4 weeks here,... repeatedly,.. over and over again,... Think about it, 567 condo units with an average of 2.5 people per unit,.... that's about 1,400 people with their lives on hold because these clowns can't figure out how to deliver what they promised on time.

 

[moon2n]

My suggestion,... call city planning or the local councillor office to find the real reason for delay.

check the sale contract you signed word by word then you'll realize delay is always allowed, not for your interest.

do anyone know the developers (Bazis/Plaza/Metropia) 's and the builder (TMG)'s previous closing delay? I don't think 4-year delay as RZ12's understanding is normal.

lack of experienced labour?

 

[Auraz]

check the sale contract you signed word by word then you'll realize delay is always allowed, not for your interest.

do anyone know the developers (Bazis/Plaza/Metropia) 's and the builder (TMG)'s previous closing delay? I don't think 4-year delay as RZ12's understanding is normal.

lack of experienced labour?

Stolen construction equipment, lack of experience, financing bank loan delays, lack of construction supplies. You name it. Realistically there only really delayed is one year.

 

[TheKingEast]

This developer and builder needs to give everyone a firm date and stick to it,... instead of constantly jerking everybody around by 2 weeks here, 3 weeks there, another 4 weeks here,... repeatedly,.. over and over again,... Think about it, 567 condo units with an average of 2.5 people per unit,.... that's about 1,400 people with their lives on hold because these clowns can't figure out how to deliver what they promised on time.

welcome to buying pre-construction. There is nothing going on here that is out of the ordinary aside from needing the retail to be finished before allowing occupancy.

The constant delays are normal and should be expected. Only way to get some change is to complain to the right people or just stop buying condos off of spec.

 

[UD2]

it looks like the retail units share the garage entrance with the condominiums. could move-in be delayed because the garage entrance and loading area is still being used as a staging area for the retail construction?

This in a way may be good for the residents. The more closer to being completely finished the condo is on move-in, the less rent owners need to pay.

btw the East tower still doesn't seem to have its boilers yet, does this mean dry wall painting of the units haven't yet began?

 

[sunnyraytoronto]

it looks like the retail units share the garage entrance with the condominiums. could move-in be delayed because the garage entrance and loading area is still being used as a staging area for the retail construction?

This in a way may be good for the residents. The more closer to being completely finished the condo is on move-in, the less rent owners need to pay.

btw the East tower still doesn't seem to have its boilers yet, does this mean dry wall painting of the units haven't yet began?

UD2,... Retail loading docks does NOT share garage with condo residents. On Bogert, there are three separate garage doors,... middle door for condo residents & commercial parking, west door for inbound trucks into retail loading docks area and east door for outbound. Last month, there was a minor variance change to allow Metro better access to loading docks.

As per my previous postings, images of EmeraldPark towers with paper on windows,... about 80% of condo units in West Tower seems to be done and about 40% of condo units in East Tower seems to be done.

During construction without heating an entire building, portable propane space heaters are usually used to heat rooms if needed for painting and other work.

Stolen construction equipment, lack of experience, financing bank loan delays, lack of construction supplies. You name it. Realistically there only really delayed is one year.

RZ12,... Really,... Keep in mind when Bazis was marketing EmeraldPark in 2008, Bazis CEO Michael Gold was promising November 2011 delivery date with multiple shifts, weekend and overtime work to ensure that 2011 delivery date holds. See post# 58 from 2008 for tentative delivery date of November 2011,... yes, EmeraldPark is already 3 years and 3 months late,... and counting!
http://urbantoronto.ca/forum/showth...ternational-Plaza-Metropia)-Real-Estate/page4

The only thing Bazis managed to do by 2011 was to start digging a hole! In UD2 post# 580 on EmeraldPark Construction & Project thread, posted when construction digging was about to start on EmeraldPark in May 2011, the promised move-in date was revised from November 2011 to November 2013 and you acknowledged a 5 month delay would be expected to April 2014
http://urbantoronto.ca/forum/showth...s-Metropia-Plazacorp-40-32s-Varacalli)/page39

When it became clear, Bazis couldn't keep this *revised* November 2013 delivery date, Loblaw's T&T supermarket bailed from being anchor tenant on 2nd floor retail.

For comparison, look at Tridel HullmarkCentre across Yonge Street (45 storey north tower wih 12 storey office base and 33 storey condo above / 35 storey south tower / 5 storey podium) VS EmeraldPark (40 storey east tower / 32 storey west tower / 4 storey podium)
- HullmarkCentre and EmeraldPark was being marketed at the same time in summer 2008
- HullmarkCentre and EmeraldPark both had same delivery date of Nov 2013
- HullmarkCentre site demolition started Aug 2010 and digging started Nov 2010 VS EmeraldPark May 2011
- HullmarkCentre south tower opened Dec 2013 (1 month late)
- HullmarkCentre north tower opened Dec 2014 (1 year and 1 month late) - late due to redesign of tricky subway connection (pedestrian tunnel over northbound Yonge to eastbound Sheppard subway turning tunnel) which delayed north tower construction by 1 year - let`s be clear, this delay was a rare exception where delay was more on city planning and TTC side as the original design was faulty and they needed to double check everything on redesign and well,.... everybody knows how lightning fast the TTC is,...
- HullmarkCentre retail started with WholeFoodsMarket opening Sept 2014, Rexall opened, RBC soon and GUU soon

EmeraldPark *revised* Nov 2013 promised date is well over a year late already,... and counting,... If this bull about city not letting EmeraldPark allow condo move-in until retail is finish have any truth to it,... you`ll be looking close to a 2 year delay from the *revised* delivery date,... add that to the 2 year delay from original Nov 2011 delivery date,... and you're now looking at 4 years delay!

 

[moon2n]

this is going too far - 4 years delay. is anyone able to list a project or more worse than this Emerald Park?

 

[TheKingEast]

this is going too far - 4 years delay. is anyone able to list a project or more worse than this Emerald Park?

In terms of delay? LTower and Fashion House come to mind.

 

[Auraz]

In terms of delay? LTower and Fashion House come to mind.

Pier 27, Ice Condos, studio on Richmond

 

[UD2]

Sunnyray

That was a dictional error in my part, when i said condo garage I actually meant condo loading dock and garbage collection entrance.

 

[moon2n]

But do you think the condo loading docks and garbage collection entrance will be done for the new date of March 24 being sent out, or are we actually looking at a huge delay in reality?

Like Sunnyray said before, it's ridiculous the minor date changes they keep doing - 3 weeks here, 4 weeks there. If they won't finish until fall, then they should really at least let the buyers know so they can plan their lives...

it reveals that the developers are weak planners, poor in communication, strategic target and insight, just make complainers happy....

 

[chanmr]

Not sure if anyone has read the latest Bazis blog, but they indicated that "everything is right on track at our various sites", is that true?

http://bazis.ca/blog/bazis-builds-sustainable-buildings/