Nobu Residences Toronto (Madison Group) - Real Estate -

has anyone gotten a firm occupancy date yet?

I received notice on June 1 that our "Final Tentative Occupancy Date is Jan 25, 2024". Rather amusing because I'm sure its not accurate at all and is just fulfilling a legal obligation.

From the letter

"Please be advised that the roof slab of the Condominium project containing the your Home was completed on or about May 3, 2023, and in accordance with the provisions of the Tarion Addendum annexed as Schedule "TA" to the Purchase Agreement, you are hereby formally notified that your Final Tentative Occupancy Date is Jan 25, 2024.

The revision to your occupancy date is being made based on our review of the construction schedule and is unrelated to any unavoidable delay that we have already experienced (and may continue to experience hereafter) as a result of the on-going Covid-19 pandemic, which unavoidable delay you were first advised of in our correspondence in March 2020, entitled "the First Notice". Once the direct impacts of the pandemic have ended and we have determined the length of the unavoidable delay, if any, to your occupancy date and other critical dates as a result of the Covid-19 pandemic, we will immediately issue a Second Notice of the delay and identify therein the length of the total unavoidable delay period, among other things.

We would re-iterate that it is not possible at this time to determine how the COVID-19 pandemic will ultimately impact completion timelines in our suite. Accordingly, this letter is not the formal Second Notice re: Unavoidable Delay that will eventually to be provided pursuant to the Tarion Addendum and does not alter the content of the Vendor's prior First Notice letter.

Please do not make any final moving arrangements until we have confirmed and notified you of your "firm occupancy date" and whether or not there will be any unavoidable delay to same."
 
anyone get a PDI date yet? curious to see how the units have been shaping up. my occupancy is mid Jan.
 
Hi, I am thinking to buy a higher floor unit via assignment, I want to know that there is no possibility of builder default. Isn’t it?
 
Why would you think the builder is going to default?
Madison Group is a large company with many projects going on in the gta, including a recently announced huge development on Eglinton with renowned international firm, Rafael Viñoly Architects.
 
Why would you think the builder is going to default?
Madison Group is a large company with many projects going on in the gta, including a recently announced huge development on Eglinton with renowned international firm, Rafael Viñoly Architects.
Thanks. Bought one with confidence! Will close within a week.
 

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