canderson
New Member
Last I heard the buildings occupancy date was set for November 15th, this seems quite impossible to me, any thoughts? if there were to start moving in then, I would think it's likely just the lower floors, no?
Waterworks (MOD Developments) - Real Estate -
- Thread starter canderson
- Start date
innsertnamehere
Superstar
like as in 9 days? nobody is moving in in the next year, let alone 9 days.
IZbuda
New Member
I think canderson means November 15, 2020. I will be moving into Waterworks myself. My occupancy date that was provided was October 29, 2020.
AlbertC
Superstar
IMO, it's unlikely that this will be ready for occupancy in approximately one year. Winter months are coming up so it'll be the standard slowdown period for construction developments all around.
Waterworks is also a more complex project in terms of the YMCA and Food Hall at the base. Which will require more dedicated time to complete. I'm predicting that the overall project to be finished around Spring of 2021.
Waterworks is also a more complex project in terms of the YMCA and Food Hall at the base. Which will require more dedicated time to complete. I'm predicting that the overall project to be finished around Spring of 2021.
cmd uw
Active Member
I don't post that often on this site but I lurk a lot. Anyways I really, really love this project. With regards to completion, given that they are now a few floors above the 'tough part' they should be able to move fairly quickly. I'd say January 2021 isn't that unrealistic. Residential occupancies can take place well before tenant fit outs in the food hall and commercial spaces.
watermelon
New Member
I know someone waiting on a unit in this building and they had a few questions, hoping someone might have some answers.
On mixed use projects like this do they usually finish the condominium portion first?
For registration do they only consider the condo portion or the whole building?
Looks like they will be done going up by end of May any guesses how long the interiors would take?
On mixed use projects like this do they usually finish the condominium portion first?
For registration do they only consider the condo portion or the whole building?
Looks like they will be done going up by end of May any guesses how long the interiors would take?
AHK
Senior Member
Yes, normally the residential portions are finished first. A good recent example is Minto Westside, in which the residential units have been occupied for many months, but the commercial is still being completed. Many other buildings are similar. In the odd exception, where the commercial leasing has gone well, some of the commercial areas may be occupied earlier, such as in Aura, but that is quite rare.
Registration is based on the condo portion of the building only. While it is possible that some none residential portions of the building may be held within the condominium corporation, other than the residential parking area, that is rare. Registration is not based on occupancy of the units, but when the developer (technical title the Declarant, as they are the ones responsible for submission of the Declaration to the City), has completed all the proper paperwork. The longer it takes for the complete paperwork to be submitted, the longer it will be until the condominium is registered. On the other hand, the Berczy, at Church and Front streets, was very fast - it was registered prior to any residents taking occupancy.
This can vary widely building by building. All the electrical, mechanical, and life safety systems have to be suitably complete, tested, certified, operational and accepted by the City inspectors, in addition to interior construction of the individual suites themselves. For a small building - six months or more after topping off could be reasonable, for a larger building can be up to a year before the builiding is in a ready enough state for the initial residents can move into the lower floors - upper floors are normally longer. Normally a building, with a custom footprint such as the Waterworks could be more towards a year after topping off, even though it is only thirteen floors. Construction of the Waterworks building is going very quickly though - the construction crew is working long hours, and frequently on the weekend as well. If they keep up the same pace on the interior, they may bring this building in at the shorter end of the standard time frames for a building of its size and complexity.
We overlook this project from a couple of streets away, and can see it from our windows - have been watching it for a while.
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kozak
Active Member
I believe I read that something like 10% of the commercial space in Waterworks will be part of the condominium.
cmd uw
Active Member
As in the Condominium Corporation will own 10% of the commercial space? I wonder why the developer would do that?
DSC
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Or there will be a Condominium Unit as part of the Condo Corporation? In our (1980s) condo corp we have 51 residential units and one (subdivided) commercial Unit. We all have votes etc. I think this was the common thing then as developers wanted out of a building once it was finished. Now it is more common for the commercial units to be retained by the developer and for there to be some sort of agreement concerning maintenance etc.
kozak
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DSC
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Our situation (a commercial Unit as part of a residential condominium) seems to work fine. I know of another condo where the commercial is NOT part of the Condo Corp and it works fine too, in that case you need to be sure the legal agreements are fair!
Brandonschaus
New Member
Does anyone know details about the estimated completion/occupancy dates?
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ash_p
Active Member
I bought a unit on the 4th floor and my "final tentative" occupancy date is March 10th.
karledice
Senior Member
Congrats! How much per square feet was it on average?