Toronto L-Tower | 204.82m | 58s | Cityzen | Daniel Libeskind

Yep - someone in the real estate posted about the issues
 
Welp, building code simply isn't good enough and IMO builders don't always meet them yet still pass inspection. This is what happens when you have this mad rush to build, build, build, build. Instead of havign 10+ year professional trades people working on projects, you have kids with limited experience. Builder is rushing through projects in order to meet deadlines so they can finish and move on to the next project. Then throw in the atrocious Tarion and how it has sided with builders for so long. It has been a giant middle finger to the buyer.

These shoebox condos will not age well. This one though is going to get a reputation kinda like Cityplace. But I think the demand for condos is so strong it probably won't that much of an effect on property values.
 
Everything can be fixed if there's an economic rationale for it. A building this close to the Financial District and Union Station will likely always have the demand to justify making the right investments.
 
junctionist said:
Everything can be fixed if there's an economic rationale for it. A building this close to the Financial District and Union Station will likely always have the demand to justify making the right investments.
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Yes, but often 'fixing something' is extremely expensive and it's often easier/cheaper to just move on and build a new building. Leaving behind those who own Units in this one.
 
DSC said:
Yes, but often 'fixing something' is extremely expensive and it's often easier/cheaper to just move on and build a new building. Leaving behind those who own Units in this one.
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My expectation is the legal requirement of a Reserve Fund will over time ensure needed monies will be there to repair/replace the crap mechanical, life safety and windows that plague so many condo towers. It's been a straightforward and darn near criminal transfer of cost and risk by the developers onto the unwitting shoulders of buyers, with the blessing of Tarion and the wilful blindness of the City and Province. Any suggestion these faulty towers will deteriorate is shaky. More likely, at the expense of the today's and tomorrow's owners they will actually improve. Who knows if the required extraordinary allocation to the Reserve Funds will affect property values. What's truly sad is the reputation of the host of really bad developers putting up the Chevy Vega quality towers seems to remain unaffected outside this forum. Thats wrong. The mainstream Press would do the GTA world and themselves a favor by calling out the bad characters, loud and clear.
 
Christopher Brown said:
My expectation is the legal requirement of a Reserve Fund will over time ensure needed monies will be there to repair/replace the crap mechanical, life safety and windows that plague so many condo towers. It's been a straightforward and darn near criminal transfer of cost and risk by the developers onto the unwitting shoulders of buyers, with the blessing of Tarion and the wilful blindness of the City and Province. Any suggestion these faulty towers will deteriorate is shaky. More likely, at the expense of the today's and tomorrow's owners they will actually improve. Who knows if the required extraordinary allocation to the Reserve Funds will affect property values. What's truly sad is the reputation of the host of really bad developers putting up the Chevy Vega quality towers seems to remain unaffected outside this forum. Thats wrong. The mainstream Press would do the GTA world and themselves a favor by calling out the bad characters, loud and clear.
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I’m thinking of downsizing to a condo in five to ten years, but I’m concerned about building quality. Any thoughts on which builders I should avoid and which ones produce decent quality?
 
pman said:
I’m thinking of downsizing to a condo in five to ten years, but I’m concerned about building quality. Any thoughts on which builders I should avoid and which ones produce decent quality?
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5 to 10 years is a long time and developers/builders change but in general you should avoid a totally new building as almost all have SOME problems (L-Tower - Cityzen - seems to be particularly bad. Best to have the wrinkles worked out by others in my opinion!
 
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