OK so they have demolished the existing structure and put up a crane.. but I'm a bit worried since this was announced in 2014 and seems to be moving slowly. I think construction was supposed to start Feb 2016 if I recall correctly?
Any ideas on how many (%) units were sold and still remaining? I am not convinced this building is 100% sold which is a bit concerning.
Anyone know the original timeline vs the current one? When is the expected complete date now?
Asking since it seems that this building is taking way longer than planned.. I'm hearing rumours that the builder is inexperienced and may be running into trouble (funding? sales? not sure.) so I'm wondering if there is a real story on what's going on. Anyone who has purchased a unit.. what are you hearing?
wdygwygds - I am from the builder's side (I'm Adit Kumar).
Not sure who would have told you the building is 100% sold as we would never sell any of our building 100% pre-construction.
I believe we are over 80% or so.
That said, whether or not we have sales really makes little difference to us on staring construction. We start when we receive the approvals
Building took longer than anticipated due to the longer than anticipated approval process (construction started in October 2016)
Experience - We've been around for 60 years operating in the construction industry.
Funding - The last thing we need funding. Just as an aside, we also lend to other builders in the GTA.