I am considering buying at casa..i have not signed on the dotted line but here are my reasons:
1. i compare the price of the condo to flats here in london (UK) and you cannot even get a studio for that price (ok..toronto is not equivalent to london but it is a major city --which i love...being canadian myself)
2. proximity to subway
3. proximity to bloor street west designer shops restaurants ...
4. cresford has delivered in the past although it may be late but if you are investing then as the market increases, your investment increases
5. i like the building--the glass and the top
If you look at BSN and then look at the finish of Casa,you can understand why they havent started--they probably cant sell the remaining units--whereas casa which is across the street is selling very well. BSN looks awful and the finish is terrible. I will call cresford today to get some explanantion before i sign the dotted line.
no answer but this was posted in globeandmail.com 6/1/07
"The project is now under construction -- the foundations are being excavated -- with a promised occupancy date of December, 2007. Maria Athanasoulis, vice-president of marketing and sales for Cresford, says a variety of issues have contributed to the delay. "There are multiple factors that contribute to this kind of project, from timing of a launch to weather," she says. "I can't pinpoint it on one factor." "
ok, i spoke to someone and they are telling me that bsn was not cresford originally and that the project was bought from another developer that couldnt finish it. They then decided to change the building and add another 5 floors but this required planning permission which is why they did not start the construction in the interim. Any of this make sense...i'm sitting here in the UK so i have no clue.
Additional floors were added. I don't know the history of who was involved with the development originally.
Cresford has also been slow to start Mode as well. I had considered purchasing there, but I'm glad I didn't as a year has gone by with no start to construction.
When buying a new condo it's sometime best to wait until construction actually starts - you'll then have a rough timeline with respect to occupancies.
I looked at Casa as well and it really is a great project. But I would be concerned about when/if construction will actually start. A year ago I had been told spring 2006. This is a large project and the developer will need to hit about 70% sales prior to construction. Casa isn't being as aggressively marketed as some of the other product in the area, so I suspect sales volumes are lagging.
Over the past few weekends they have been having promotions where the were offering 3 years maintenance at closing during one weekend and the following weekend they were offering $10k off at closing. I have been told that they are now closing their sales office on site to start construction from this weekend.
I dropped by Cresford's sales office today (Sunday, Feb. 11, 2007) for Casa and the Bloor Street Neighbourood and was told that this was their last day. The model suite was closed. The sales office is to be relocated on Yonge Street but no-one seemed to know where. (No kidding!)
A sign in the door says the sales office has moved to 876 Yonge Street (corner of Scollard and Yonge). Co-incidentally, Great Gulf just closed their sales office for the X-Condo. Looks like both projects will go up at about the same time.