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Feather Factory Lofts (Roncesvalles/Dundas, Plazacorp)

monty76 said:
they havent actually got the residential approval, the Ontario Municipal Board Hearing is on May 25-26. Cant believe they are already advertising before actually getting approval.

BTW URBANADREAMER, how do you know the prices are lower? Did you get some of the new pricing info?
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After the fiasco last time I would be shocked if they tried to pull something like that again. I suppose they scheduled the reopening for after the OMB hearing so they can just cancel it if it doesn't go their way. I have a friend renting in this area who's looking to buy something and I had initially thought this might be a good building for him but he's totally skeptical of the developer now after I told him what happened. I wonder how many previous buyers will be interested again or if everyone who had been interested will be scared off from the last time.
 
One thing that confused me when I looked at the pricing last year was the maintenence. IIRC they were charging 49 cents per sq. foot which is bascially on par with some condo developments. Strange considering there are basically NO common facilities in this bulding.

One question, over the past year how much do you think the real estate value in this building will have fallen in relation to the market. I would guess it at -3% to -5% or so.
 
monty76 said:
One thing that confused me when I looked at the pricing last year was the maintenence. IIRC they were charging 49 cents per sq. foot which is bascially on par with some condo developments. Strange considering there are basically NO common facilities in this bulding.

One question, over the past year how much do you think the real estate value in this building will have fallen in relation to the market. I would guess it at -3% to -5% or so.
Click to expand...

hard to say, hard loft conversions typically weather the ups and downs better than the rest of the condo market.
 
Im guessing prices haven't changed since its still starting 199,900. Unless they decided to keep the smaller units the same price and reduce on the larger units.
 
So the OMB hearing must have happened now since it was supposed to be May 25-26 right? Does anyone know what happened?
 
im guessing the OMB hearing decided in their favour since i just got like 4 e-mails advertising their grand opening next weekend
 
I just got three exact same email notices myself! Hope they don't have a virus. First they try to scam buyers with lofts that are not zoned for residential use, and then when they relaunch they kill all potential buyers' computers with viruses. Anyway, I love the building itself, so I will try to make it to this grand opening next week to "walk through 44 finished lofts!"
 
Excuse my ignorance but what does "IIRC" stand for?

monty76 said:
One thing that confused me when I looked at the pricing last year was the maintenence. IIRC they were charging 49 cents per sq. foot which is bascially on par with some condo developments. Strange considering there are basically NO common facilities in this bulding.

One question, over the past year how much do you think the real estate value in this building will have fallen in relation to the market. I would guess it at -3% to -5% or so.
Click to expand...
 
riley said:
I believe it means "If I remember correctly"
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thank you riley for the answer (and N.E. for asking) ... I never figured out what that meant and didn't want to ask
 
So what are they going to do? Take deposits this weekend and return them if they dont get the OMB to decide in their favour?

OR are they just trying to pull the wool over peoples' eyes and try to get them to purchase units that are illegal to live in?

If it's the later, i dont see how they will succeed as real estate lawyers will catch this immediately and it will be the same situation that happened last year.
 
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