Fortune at Fort York (Onni) - Real Estate -

Full Metal Junkie

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So here are my back-of-the-napkin projections for you. I am basing these solely on Westlake Encore building, the last project completed in Toronto by Onni Group. A very similar project, same architect, build form, etc.

The building was just above grade around July 2016, similar to where Fortune is at now:
More of Encore, from yesterday evening:

View attachment 81621

This is the ground floor pad for the retail low-rise on Park Lawn. It butts up against the Key West low-rise to the right of the pic. There was some talk a chain like Earl's or The Keg or some such would go in here.
View attachment 81622

The wall beside the road is temporary while Encore is under construction. When it's done, the internal roadway will continue across the concreted area just beyond the wall, and up to Key West.
View attachment 81623View attachment 81624View attachment 81625View attachment 81626

That last shot shows cars lining up on the driveway that goes up to Park Lawn Road. It seems the timing may need to be adjusted. Encore is under construction just behind the cars.

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Now, Encore is a 45 storey tower, while Fortune is only 25, so we have to somehow adjust for that in our projections. Here are some milestones for Encore:

So, my projections for Fortune based on Encore are:
  • The building should top off in about 9-10 months, end of 2019
  • PDIs should begin about 4 months after that, April 2020
  • First occupancies a couple of months after that, around June 2020

Please keep in mind that this is pure speculation though :)
 

PinkLucy

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Different people will get different dates. Can’t have everyone moving in at once
 

arkman

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Hi guys, I need some advice. I'm looking to rent a place while waiting for this condo to be finished. If you were in my shoes, what kind of lease would you look for?

Is there a lot of risk with a one year lease (starting Feb or March) in terms of having the condo occupancy before the lease ends, and having to pay both. Or should I look for a 6 month lease with option to do month-by-month after? Since it is non-standard, it may be harder to find places, or they may want to charge more or something.

I'm in the July batch of occupancies.
 

Full Metal Junkie

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Hi guys, I need some advice. I'm looking to rent a place while waiting for this condo to be finished. If you were in my shoes, what kind of lease would you look for?

Is there a lot of risk with a one year lease (starting Feb or March) in terms of having the condo occupancy before the lease ends, and having to pay both. Or should I look for a 6 month lease with option to do month-by-month after? Since it is non-standard, it may be harder to find places, or they may want to charge more or something.

I'm in the July batch of occupancies.
July is definitely not happening. At the rate they are going, they might top off by July, and occupancies probably won't start until early 2021. But if I were you, I'd still look for a month-to-month rental agreement. There is a chance you'll have your move-in date before March 2021
 

legogirl

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I just received notification from Onni that the revised tentative move in date is now September 15, which I'm sure translates to early 2021.
 

Full Metal Junkie

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Umm, the notice 6 months from the occupancy is already getting to be fairly accurate. Having moved into their last project in Toronto, my occupancy date didn't change after the 6 month's notice. They finish the interiors very fast after they install the exterior cladding. The tower is close to being topped off. Sept. 15 is not unrealistic for lower floors. That being said, no way to say how this will be affected by the shutdowns due to the health crisis.
 

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