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Which projects are most likely to get cancelled?

Chromeboy007 said:
Next time you lose your job, don't apply for EI.
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Sorry to hear about your job loss ... been there.
EI is not a bailout since one has contributed towards it.

Propping up PRIVATE businesses that are not economically fundamentally self-sufficient is a different matter.
 
The business lobby has persuaded local politicians to increasingly shift the tax burden to residential property tax payers to do just that.
 
Urban Shocker said:
The business lobby has persuaded local politicians to increasingly shift the tax burden to residential property tax payers to do just that.
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Not quite. The 'business lobby' was ignored and only when they expressed their disgust with the current imbalances by leaving or setting up shop elsewhere did the city decide to do anything.
 
and really if the people of Toronto want their city to maintain their economic powerhouse status, they have no choice.
 
What thoughts about Monarch projects? Since there are worries about its parent company having some financial challenges (as if they are the only ones having issues with finance ;), What do you guys think is the future for projects like Ultra at Heron hills whose occupancy was initially slated for 2012 !?
 
This project is on Sheppard and Yorkland (very close to Fairview mall) over the previous location of Monarch headquarters, Monarch is saying there will be 3 phases first being Legacy and second being Ultra at Heron hills. (they have not done good marketing about this project at all as compared to how El-Hadd is doing for Emerald City Condos which is just a few blocks away) across fairview on Sheppard and Donmills
 
Rocky,
The fact that I hadn't heard of it orried me a bit. But if you say the marketing hasn't been good, well that explains that. Monarchare fairly solidly backed I think. That being said, I believe the parent company, Taylor Woodrow in the US is probably suffering badly in the home crisis. I think the Canadain arem has cash, however, they never market any of their sites properly I find. Its a trend with them. However, all that said, if they're located where you say they are, its a good solid location now that the TTC links up to Fairview Mall. So that should help sales on a regular day. The reality is though that we are in a recession. So if they're original date was 2012, I'd tack on at least anohter year to that date if you're buying.....
REG
 
Rocky said:
What thoughts about Monarch projects? Since there are worries about its parent company having some financial challenges (as if they are the only ones having issues with finance ;), What do you guys think is the future for projects like Ultra at Heron hills whose occupancy was initially slated for 2012 !?
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i think it is very likely that the project may be cancelled. Builders in general will be required to have higher percentage of firm deals before banks will provide the loan (e.g., from 50% to 75% net sales, however, the exact figures will vary from builder to builder depending).

I totally agree with their poor marketing. To me it seems like they're are spending a lot (e.g., inserts) on ads but are not necessarily very effective. The Highrise Sales and Marketing Team is to be blamed. I've also noticed a lot of mistakes in their ads that have taken couple of months to be corrected. Btw, i think the Monarch's Manager of Sales and Marketing is now featured in Condo Guide, with her own column.

It will be interesting to see what will happen to Ultra. Better yet, i would like to see what would happen to Monarch.
 
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argos said:
i think it is very likely that the project may be cancelled. Builders in general will be required to have higher percentage of firm deals before banks will provide the loan (e.g., from 50% to 75% net sales, however, the exact figures will vary from builder to builder depending).

I totally agree with their poor marketing. To me it seems like they're are spending a lot (e.g., inserts) on ads but are not necessarily very effective. The Highrise Sales and Marketing Team is to be blamed. I've also noticed a lot of mistakes in their ads that have taken couple of months to be corrected. Btw, i think the Monarch's Manager of Sales and Marketing is now featured in Condo Guide, with her own column.

It will be interesting to see what will happen to Ultra. Better yet, i would like to see what would happen to Monarch.
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Hey Argos, Monarch said the initial occupancy will be 2012 for Ultra, lets say if it gets can celled or may be delayed for another year or so - I was wondering at point would the buyers be told ? can the builder be insane enough to try and strech it till the last minute ( assuming they will be hopeful that market might get better). At any point should the buyer be contacting the builder to find out the status of the project ?
 
If you are a buyer I would say that you have every right to contact them at any time to ask a straightforward question. Hopefully you would get a straightforward answer.

I don't have any inside info pertaining to Monarch, but in general, once the project is a "go", there is little or no incentive for the developer to delay construction. Carrying costs for these projects are very significant, and the sooner they can get built and sold, the sooner the financing costs come to an end.
 
I dunno. Was he handling the financing for these two projects?

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urban -- i have also heard that trump is going to be capped. they have affectionately dubbed it the "trump stump".
 
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