Massey Tower Condos (Mod Developments) - Real Estate -

cdr108

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wow, what a deal - 440 sq ft for $325,000 - that's just under $739 psf for a bachelor unit ... oops, a jr. 1 bedroom - even better !
all that hall space - approx 50 sq ft - dedicated for a personal gallery ... such a great feature


///////// end sarcasm
 

metroTO

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Anyone spending over $700/sq.ft. for a awkwardly designed unit with standard cookie cutter finishes and features must be nuts, especially in this market.
The investor market is going into hibernation.

You could do much better in a much nicer neighbourhood.
 

Sunny Batra

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Massey Tower won the 4 top awards last night at the BILD!

Best Project of the Year!
Best Building Design!
Best Sales Office!
Best Model Suite!

Way to go MOD!!!
 

motime

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Any idea on how much the value would have gone up at this building since the opening prices? My father purchased a 566 sqft unit on a mid 40th floor facing towards the lake for 420k back in 2012. I don't have any idea what the price would be now.
 

AHK

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When will turnover take place?
Turnover takes place after Registration.

Anticipating your next question - When will Registration take place?

Registration takes place once the Developer (otherwise known in condominium terms as 'The Declarant' completes all the necessary documentation required for registration of the condominium, to the satisfaction of the City's review process, at which point the City registers the condominium corporation. The registration process is not tied to any specific level of occupancy - in fact the Berczy Condominium, at the corner of Church and Front Streets was registered prior to the start of occupancy. One of the documentation requirements is a finalized site plan application accepted by the City. If there are still final details outstanding preventing acceptance by the City of the site plan agreement - no registration can take place - can be outstanding for many months.

Also note - after handover, all that changes is the condominium corporation legally exists, has its own bank accounts and Board. But the Board consists or representatives appointed by the developer (The Declarant), and is known as the Declarant's Board. The Turnover Meeting, at which the owner's Board is elected takes place several months later - to give time for the owners to legally close on their units, which starts once Registration has happened. The new owners are identified as their registrations take place, and the Turnover Meeting is scheduled by the Property Manager (who was appointed by the developer), with sufficient time for the notice of the date, time and place of the Turnover Meeting to be communicated to the new owners. The Turnover Meeting should take place around three to four months after Registration.
 

AHK

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When is registration?
Did you even read the post above this one of yours? It provides a reasonable explanation of the process to get to Registration, and why it is not possible to know that much in advance. It even anticipated your question - 'Anticipating your next question - When will Registration take place?'

Registration is dependent on:

1. The Developer preparing and submitting all the required documentation to the City, and fixing any errors or omissions the City staff might find in their review, and:

2. The City staff completing their review and acceptance of all the documentation required for registration, and then submitting the approved registration request to the local Ontario Land Registry office (which is at 20 Dundas Street West) for formal registration of the Condominium Corporation.

If you - or anyone else - can predict in advance how long it will take to complete Step 1 and Step 2 for any individual condominium project - then you would know when registration will take place.
 

AHK

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I was trying to explain that what you are asking for is not known at this time - it is simply unknowable. Obviously you were expecting something else - some magic answer. I tried to provide some insights into the process, so that you would both understand, and be able to judge for yourself when registration might be anticipated, should you follow the developer's progress. Obviously, my comments were a bit beyond what you were expecting, and perhaps what you are able to process.
 

Seakan298

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Hi,

Does anyone know when this building will be registered, like to have my closing done. No one is really giving me an answer I’ve been told it could be up to Jan 2020. Thanks
 

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