M City (Rogers/Urban Capital) - Real Estate -

Hi, I am to occupy one of the higher floors in M1 - Unit 04 with a wrap around balcony in Aug. Would appreciate if someone who has already occupied a 04 unit in lower floors, pls share window measurements. There is a good offer for roller blinds ongoing at Ikea but it will last only until 30 Jun.
 
If anyone has any info as to the occupancy of these buildings I would be grateful:

What occupancy fees are you paying?

What have you been told re. closing dates?
 
My interim occupancy for M1 - 53rd floor is scheduled in 2 weeks from now. But no communication on anything / updates on PDI yet.
 
makaveli said:
If anyone has any info as to the occupancy of these buildings I would be grateful:

What occupancy fees are you paying?

What have you been told re. closing dates?
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A very ridiculous amount of pretty much $3k monthly as a lump sum which doesn't include utilities. No word yet on final closing
 
SoSheSpeaks said:
A very ridiculous amount of pretty much $3k monthly as a lump sum which doesn't include utilities. No word yet on final closing
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They look at it as roughly the cost a typical owner would pay (mortgage, maintenance, property taxes) or a typical tenant would pay in rent.
 
From what I'm hearing it sounds like there is little communication about occupancy, PDI, closing etc. One realtor expects further delays to occupancy and another is saying closing periods will be early next year-ish.

For those that booked a unit in the last couple of years, how are you faring in the current economic climate?

Appraisals are likely to come in much lower than what the purchase prices were in 2022, 2021, and probably even 2020. It's a long shot but I'm wondering if the builder is willing to renegotiate the purchase price in these scenarios.
 
makaveli said:
That's stupidly high compared to rental market value. What's your sq footage/bedrooms?
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Including balcony, just shy of 850 sqft for a 2 bed + media + 2 full bath. Inside square footage just under 700 sqft

Correct - what Khaldoon mentioned, for interim occupancy rent it's a calculation of estimated common expenses + estimated realty taxes + interest on the unpaid balance of your purchase price. Utilities are not included
 
Andy2109 said:
My interim occupancy for M1 - 53rd floor is scheduled in 2 weeks from now. But no communication on anything / updates on PDI yet.
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You'll get an automatic email about PDI from Customer Care the week before PDI is scheduled. They book it for you and the date cannot be changed. PDI should be scheduled 2 weeks before your occupancy date. I'm in M1 on 44th floor and had my PDI 7/14 and Occupancy 7/28. Your lawyer should've already received closing package and once M City lawyers confirm that 1st Month Occcupancy Funds have been received, you'll get an email from someone in Customer Care to schedule a day for key pickup. I hope this helps. Also, they pushed out my closing by 2 weeks and gave Purchaser Credit on Interim Statement of Adjustments. Your closing date may change. Best to contact Customer Care and they should be able to give you an update.
 
Also if anyone is curious about the gifts in closing package: Mini Replica of M1, $25 Presto Card, Amazon Echo and some Dulux Paint Coupons. Lol. At least the internet is free
 
beygood904 said:
Also if anyone is curious about the gifts in closing package: Mini Replica of M1, $25 Presto Card, Amazon Echo and some Dulux Paint Coupons. Lol. At least the internet is free
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Internet isn’t free. It’s included as part of the condo fees (at a discounted rate)
 
beygood904 said:
You'll get an automatic email about PDI from Customer Care the week before PDI is scheduled. They book it for you and the date cannot be changed. PDI should be scheduled 2 weeks before your occupancy date. I'm in M1 on 44th floor and had my PDI 7/14 and Occupancy 7/28. Your lawyer should've already received closing package and once M City lawyers confirm that 1st Month Occcupancy Funds have been received, you'll get an email from someone in Customer Care to schedule a day for key pickup. I hope this helps. Also, they pushed out my closing by 2 weeks and gave Purchaser Credit on Interim Statement of Adjustments. Your closing date may change. Best to contact Customer Care and they should be able to give you an update.
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Thanks. This helps. Had my PDI yesterday and closing next week.
 
beygood904 said:
Also if anyone is curious about the gifts in closing package: Mini Replica of M1, $25 Presto Card, Amazon Echo and some Dulux Paint Coupons. Lol. At least the internet is free
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They are adding $70.00 on to each months maintenance fees and commiting us for years of payments in the future for internet. Far from free.
 
RTM said:
Any other purchasers here? Just going through their legal docs and saw a water heater rental contract for $169.99 plus HST/month for TEN yrs! Buy out is just over $23k!!! That can’t be right?!?
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Hey - I dealt with this extensively in the spring as it does include a few other systems besides hot water. This was the response I received: I have the information for you for a buyout of your units rental equipment, specifically the hot water heating system, the air handling system, the air conditioning system and the energy recovery ventilator system. The cost would be $7,500 + HST, payable upfront (not rolled into closing costs or mortgage).

There is a formula to calculate the buyout the takes into consideration the monthly rental payments. However, I'll agree with BuildRight. Developer has been a joke. Almost at the finish line... I just want to unpack my damn boxes at this point 😅
 
shehabhai said:
Hey - I dealt with this extensively in the spring as it does include a few other systems besides hot water. This was the response I received: I have the information for you for a buyout of your units rental equipment, specifically the hot water heating system, the air handling system, the air conditioning system and the energy recovery ventilator system. The cost would be $7,500 + HST, payable upfront (not rolled into closing costs or mortgage).

There is a formula to calculate the buyout the takes into consideration the monthly rental payments. However, I'll agree with BuildRight. Developer has been a joke. Almost at the finish line... I just want to unpack my damn boxes at this point 😅
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Super helpful! Thank you!
 
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