L Tower Condos (Cityzen, Castlepoint Realty, Fernbrook Homes) - Real Estate -

Now the trick is to get people to know about the group. You can't get a list of residents so you need to chat people up in the elevator, maybe slip a notice under a few doors, talk to your neighbours ...
 
So is it true that the buyers are needing to pay 9500 in section 37 charges plus 2500 in increases in development levies
 
If I look at the staff report back in 2010, the city only proposed a section 37 charge for 1.5 million, which should work out to around 3000 per unit on average. How drive it bloom to over 9000? Does the city put any documentation for increases in section 37 charges such as this?

I find this extremely reasonable for the buyers.
 
Closing costs were not capped shoukd not come as a surprise. This is always the risk when you buy pre construction n no cap and the agreement doesnt say tjat it's cap. But people who bought in 2007 made good money here even with closing costs included. My closing costs for one bedroom was 15k. It's very high but my condo price was low too.
Youranthony1 said:
that sounds terrible. Were closing costs not capped?
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Ausaf_ansari said:
Closing costs were not capped shoukd not come as a surprise. This is always the risk when you buy pre construction n no cap and the agreement doesnt say tjat it's cap. But people who bought in 2007 made good money here even with closing costs included. My closing costs for one bedroom was 15k. It's very high but my condo price was low too.
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This is pretty sad. None of this should matter.. Some builders treat closing like open season.
 
KarmaPolice said:
I am not sure how to get people to sign but the only common platform that exists today with residents of L Tower is Bazinga. I don't think it is being utilized to its full potential so perhaps that can be tapped into to get people join the Facebook group. I am no expert in this but that is one way to get the community here involved.
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Great idea, but apparently only the builder and the property manager can post on Bazinga.... We will find other options ;)
 
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TheKingEast said:
This is pretty sad. None of this should matter.. Some builders treat closing like open season.
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Hey TheKingEast...I followed the King East thread for a while and so I heard how disgruntled many of the owners were about the building. Did you end up selling your unit there? If so, did you find that any buyers were leery or tried to bargain you down because they had read all the problems with the building on this site? I wonder sometimes if we should be airing all of our issues publicly and in so doing inadvertantly driving down our property values. I tried to message you but your mailbox was full, but I would truly be interested in your experience.
 
riley said:
Hey TheKingEast...I followed the King East thread for a while and so I heard how disgruntled many of the owners were about the building. Did you end up selling your unit there? If so, did you find that any buyers were leery or tried to bargain you down because they had read all the problems with the building on this site? I wonder sometimes if we should be airing all of our issues publicly and in so doing inadvertantly driving down our property values. I tried to message you but your mailbox was full, but I would truly be interested in your experience.
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Yes, I sold my unit within a week or so. If it's priced right, it will move no matter how many problems you think it may have. Seems like a lot of the LTower issues are specific to the builder dragging their feet to get the building finished and being dicks during the precon process. I haven't heard of any major issues with units yet. To be honest, resale purchasers don't care about all that stuff. As long as the place looks nice and there aren't any major issues. Most don't even know the name of the builder or urbantoronto. Just worry about how the building/unit looks, how it's run and make sure the financials look good. Those are the main things purchasers care about.

To be honest, the stuff I've read in here is normal. Which is sad...but I haven't read anything in here that has surprised me.

I think people don't speak out enough. Builders wouldn't be able to do the things they do if people made more noise about it.
 
Lot of.people on this thread seem to.me are new to condo industry and dont know about issues that are common to condo buildings and they think it's only l tower that has issues. My niece bought on assignment a unit at emerald park condos in may. She moved last week.and guess what - on day of her move only one of 3 elevators was working and till now after 2 weeks only one elevator works. The builder left scratches on bath room floor , the main condo.door doesnt close well so they have to pull hard each time n now their front handle is broken. They forgot to connect properly the drainage water pipe of miele dishwasher so the dishwasher got full of water n it didnt drain with all dishes inside!! Yucky. My last condo 7 year old building woukd have it's water pipe burst accidentally n we woukd not have water for 2 days. My cousin just did closing of his 1 bedroom condo in etobicoke n closing costs came out at 15k. Does any of these issues look similar to you guys?
TheKingEast said:
Yes, I sold my unit within a week or so. If it's priced right, it will move no matter how many problems you think it may have. Seems like a lot of the LTower issues are specific to the builder dragging their feet to get the building finished and being dicks during the precon process. I haven't heard of any major issues with units yet. To be honest, resale purchasers don't care about all that stuff. As long as the place looks nice and there aren't any major issues. Most don't even know the name of the builder or urbantoronto. Just worry about how the building/unit looks, how it's run and make sure the financials look good. Those are the main things purchasers care about.

To be honest, the stuff I've read in here is normal. Which is sad...but I haven't read anything in here that has surprised me.

I think people don't speak out enough. Builders wouldn't be able to do the things they do if people made more noise about it.
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Ok, Who? Other than Del or Brookfield?
PinkLucy said:
If you change your management company, do some searching. There are a lot more companies out there than just Del and Brookfield. We recently changed ours and interviewed quite a few. You have to know what you want and take time to talk to them to see who can best help with your needs. It's an extremely important decision.

Your first priority, though, is to elect the board. You can't do anything without one
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Ausaf_ansari said:
Lot of.people on this thread seem to.me are new to condo industry and dont know about issues that are common to condo buildings and they think it's only l tower that has issues. My niece bought on assignment a unit at emerald park condos in may. She moved last week.and guess what - on day of her move only one of 3 elevators was working and till now after 2 weeks only one elevator works. The builder left scratches on bath room floor , the main condo.door doesnt close well so they have to pull hard each time n now their front handle is broken. They forgot to connect properly the drainage water pipe of miele dishwasher so the dishwasher got full of water n it didnt drain with all dishes inside!! Yucky. My last condo 7 year old building woukd have it's water pipe burst accidentally n we woukd not have water for 2 days. My cousin just did closing of his 1 bedroom condo in etobicoke n closing costs came out at 15k. Does any of these issues look similar to you guys?
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Yes. Normal stuff. Precon scare the hell out of me.
 
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