Toronto King West Life Condominiums | ?m | 25s | Plaza | Gabriel Bodor

My info is the same as Carturo's, Gooner.
I have been told that they are at about 70% of phase 3 sold, 75% of phases 1 and 2. some may have come back on phase 3 as they were in recision when I was advised.
Latest plans though not confirmed is that the developer is looking for financing to get going hopefully with dig starting in May 2010. You may well get a letter extending the EV yet again even though it will be proceeding as they have nothing to loose and cover themselves in case the unexpected happens. By all accounts, this has been one of the hottest developments in the city. A reflection of the "standard high quality finishings Plazacorp offers" as standard and price point given what is available in the city and given the Liberty Village location.
Hope this info helps.
 
interested said:
My info is the same as Carturo's, Gooner.
I have been told that they are at about 70% of phase 3 sold, 75% of phases 1 and 2. some may have come back on phase 3 as they were in recision when I was advised.
Latest plans though not confirmed is that the developer is looking for financing to get going hopefully with dig starting in May 2010. You may well get a letter extending the EV yet again even though it will be proceeding as they have nothing to loose and cover themselves in case the unexpected happens. By all accounts, this has been one of the hottest developments in the city. A reflection of the "standard high quality finishings Plazacorp offers" as standard and price point given what is available in the city and given the Liberty Village location.
Hope this info helps.
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Actually for those of us that have been waiting from the beginning they cannot (under my interpretation) extend the EV again without offering people their money back in February...

Am i reading this contract right?

Thanks..
 
Gooner said:
Actually for those of us that have been waiting from the beginning they cannot (under my interpretation) extend the EV again without offering people their money back in February...

Am i reading this contract right?

Thanks..
Click to expand...

I just read my contract. I think you are correct. I apologize. May 31 2009 is the cut off date and they can't extend more than 3 times for 90 days each bringing them to the end of February.

I believe this will proceed which I assume is the result you are looking for.
 
interested said:
I just read my contract. I think you are correct. I apologize. May 31 2009 is the cut off date and they can't extend more than 3 times for 90 days each bringing them to the end of February.

I believe this will proceed which I assume is the result you are looking for.
Click to expand...

Thanks!

Actually at this point (im interested in another area now) I am either looking to get my money back or assign the unit....
 
good luck with the assignment.
I believe you will be in a good position, esp. if you have one of the smaller units as I understand they have been mostly sold. If you have a larger unit, may be a bit more difficult. You might ask Plazacorp themselves since if you bought early (in phase 1) I suspect they may well let you out of the contract as I think there have been some price increases but i don't really know how the builder would respond.
 
Out of curiosity, would you mind to share what size unit you bought? If you go to Kingwestlife.com web site, you will see most 1 bedroom/1bedroom+den/2 bedroom and 2bedroom and 1 bedroom Soho styles are sold out so they may well let you out.
 
interested said:
good luck with the assignment.
I believe you will be in a good position, esp. if you have one of the smaller units as I understand they have been mostly sold. If you have a larger unit, may be a bit more difficult. You might ask Plazacorp themselves since if you bought early (in phase 1) I suspect they may well let you out of the contract as I think there have been some price increases but i don't really know how the builder would respond.
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Yeah it was one of the fastest selling units (2 bedroom / 2 bath SOHO in phase 1) with a completely unobstructed view on the 10th floor facing west. (738 sq ft) so i am sure there would be some decent demand for the unit....

Thanks Again...
 
Gooner said:
Yeah it was one of the fastest selling units (2 bedroom / 2 bath SOHO in phase 1) with a completely unobstructed view on the 10th floor facing west. (738 sq ft) so i am sure there would be some decent demand for the unit....

Thanks Again...
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I know the unit. In fact, I looked and initally held a 10th floor west facing SOHO. Decided to go up a couple of floors and get a small 2 bedroom but with the 2nd bedroom having a window with the same West face. If I am correct as to your unit, you will have no trouble assigning it and I am quite sure the builder will take it back if he has sold all his Soho styles in phase 3 which I don't know yet but the web site says they are gone in phase 1 and 2. He may well take it back from you anyhow. You should check with an agent to get an idea of the value but I think it is worth more than you paid (and no, I am not an agent so I don't know the comparables but have heard that likely $450-475/sq. ft. would be market value which I know is more than you would have paid early on.) As I recall, they came in around $410 to $420/foot.
 
interested said:
I know the unit. In fact, I looked and initally held a 10th floor west facing SOHO. Decided to go up a couple of floors and get a small 2 bedroom but with the 2nd bedroom having a window with the same West face. If I am correct as to your unit, you will have no trouble assigning it and I am quite sure the builder will take it back if he has sold all his Soho styles in phase 3 which I don't know yet but the web site says they are gone in phase 1 and 2. He may well take it back from you anyhow. You should check with an agent to get an idea of the value but I think it is worth more than you paid (and no, I am not an agent so I don't know the comparables but have heard that likely $450-475/sq. ft. would be market value which I know is more than you would have paid early on.) As I recall, they came in around $410 to $420/foot.
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Yes i think you are thinking about the right unit. I would have loved to get the 2nd bedroom window but it was out of my price range at the time!

I am looking to strike up a bit of a profit....

Did you get an assignment clause in your contract?

THanks
 
Gooner said:
Yes i think you are thinking about the right unit. I would have loved to get the 2nd bedroom window but it was out of my price range at the time!

I am looking to strike up a bit of a profit....

Did you get an assignment clause in your contract?

THanks
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I did not ask for an assignment clause. I have the standard contract. Without rereading it, was there one in there and if so, do you know on what page?
 
interested said:
I did not ask for an assignment clause. I have the standard contract. Without rereading it, was there one in there and if so, do you know on what page?
Click to expand...

Actually you needed to add it to get the assignment clause....

I requested it and it was approved...
 
Gooner said:
Actually you needed to add it to get the assignment clause....

I requested it and it was approved...
Click to expand...

Smart.

I bought with the intent that my daughter might move in. If not, I shall rent it out. I plan to keep it in any event. the problem is that so much changes between 2008 and 2013 when it should be ready.

Gooner, you said you are looking at a different area. Is there something about King West Village or Liberty Village that changed or did you just feel there are better areas to live in?
 
interested said:
Smart.

I bought with the intent that my daughter might move in. If not, I shall rent it out. I plan to keep it in any event. the problem is that so much changes between 2008 and 2013 when it should be ready.

Gooner, you said you are looking at a different area. Is there something about King West Village or Liberty Village that changed or did you just feel there are better areas to live in?
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I actually cant wait until 2013 to move (this has been quite delayed) so I purchased at another Plazacorp project....

I will probably actively look for an assignment purchaser in the very new future and see what happens..
 
I am guessing you bought at West Harbour City. Nice looking buildings at least in my opinion.

so it wasn't that there is something bad about Liberty village then. that is reassuring since I would not want to place my daughter in an area that wasn't safe/liveable.
 
interested said:
I am guessing you bought at West Harbour City. Nice looking buildings at least in my opinion.

so it wasn't that there is something bad about Liberty village then. that is reassuring since I would not want to place my daughter in an area that wasn't safe/liveable.
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No the area was perfect! Close access to a lot of different things (in fact more than WHC). The King West area is still developing too! I am sure it will be great...
 
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