Luna Condos (Concord CityPlace) - Real Estate -

Tuscani01 said:
As a result of the issue I mentioned months ago (Risers), maintenance fees will be increasing each year for the next 3 years in order to top off the reserve again.

The board was also undercharged for water for several years and now has a massive water bill to pay - but is being covered within the increases mentioned above. They are now about to replace all of the toilets in the building with low flush toilets too.

Overall, it’s still one of the best buildings in CityPlace in terms of management and maintenance.
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Thanks, appreciate the info! Im considering buying a 2 bedroom there and i was getting a little worried with what would happen to maintenance fee. Do you by any chance know or have an idea what the percentage increase in maintenance would be over the next 3 years? I know you've been a resident there for a while, would you recommend buying a unit now seeing the building is almost 10 years old?
 
Sammie003xx said:
Thanks, appreciate the info! Im considering buying a 2 bedroom there and i was getting a little worried with what would happen to maintenance fee. Do you by any chance know or have an idea what the percentage increase in maintenance would be over the next 3 years? I know you've been a resident there for a while, would you recommend buying a unit now seeing the building is almost 10 years old?
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12% each year for the next 3 years. The first 12% took effect this year, so really just 2 more years. (Works out to a $50 increase per year for my unit, bringing fees to 65 cents/sqft) It's still a pretty good building. If you are looking in CityPlace, the only one I would avoid is Parade. Nothing but problems in that complex of buildings.

Full disclosure - I no longer live in the unit. I have friends who have since moved into the building though and seem to love it.
 
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hi
i read your thread for 25 capreol. please advise asap.
i am also a prospective buyer but i am concerned about
"court case (sueing) going on for fan coil riser piping and expansion compensators that prematurely failed."
will maint fee increase agin for this after 2020.
also since maint fee is going 100cad up in 2 years , are there chances that it can come down??
do u like it so far?
please suggest.
 
Maintenance fee almost never comes down. At worst it will stay the same, but it doesn't drop. It goes up over time.
 
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