Occupancy date

Hi guys,

:) I just got a letter from GGH stating that my occupancy date should be in March 2011, I'm on the 42th floor; one and a half year to go..
 
WOW!... that's kinda weird how occupancy should take that long... It must really suck to have to wait THAT long considering the building is pretty much topped off...

CMON PEOPLE!... WORK FASTER!... jks :D
 
Could it be possible that they have a limited work force in place in order to cut costs and also prolong the process in order to make a significant amount in phantom rent?

Not to be a downer or anything...
 
I got my letter

March 21st, 2011 and I am on the 43rd floor.

Not very happy about that but hey what are you gunno do.... I am really suprised the occuapancy starts in June/July and goes all the way to end of March. Does anyone know if that is normal?

Good thing is people can save more but down side is mortage rates might go up!
 
Downtowner_1980 said:
I got my letter

March 21st, 2011 and I am on the 43rd floor.

Not very happy about that but hey what are you gunno do.... I am really suprised the occuapancy starts in June/July and goes all the way to end of March. Does anyone know if that is normal?

Good thing is people can save more but down side is mortage rates might go up!
Click to expand...

If they are doing occupancy one floor per week, then it sounds realistic.
 
MattR said:
Could it be possible that they have a limited work force in place in order to cut costs and also prolong the process in order to make a significant amount in phantom rent?

Not to be a downer or anything...
Click to expand...

The builder doesn't get paid until the building registers....I would think that they would be interested in getting their money as quickly as possible, rather than worrying about how much they can make on phantom rent....I don't see it.
 
MadMax said:
The builder doesn't get paid until the building registers....I would think that they would be interested in getting their money as quickly as possible, rather than worrying about how much they can make on phantom rent....I don't see it.
Click to expand...

agreed. maybe... just maybe we're going to get the '9T6' treatment!
 
kennyx said:
agreed. maybe... just maybe we're going to get the '9T6' treatment!
Click to expand...


IIRC, 9T6 was registered within 2 months of the first owner moving in.

so far, we have owners receiving occupancy dates from July 2010 to March 2011.
 
Downtowner_1980 said:
I got my letter

March 21st, 2011 and I am on the 43rd floor.

Not very happy about that but hey what are you gunno do.... I am really suprised the occuapancy starts in June/July and goes all the way to end of March. Does anyone know if that is normal?

Good thing is people can save more but down side is mortage rates might go up!
Click to expand...

Yes, the staggered deliver is pretty normal. Remember, its like over 400 units, each with "custom" finishes. Imagine that on a suburban scale - sprawled out over several blocks of a subdivision.....it sort of makes sense.
 
X Condo Value?

I'm curious to what the general consensus is as to what the going rate $PSF is in this building?

I thought X2 served as a good barometer for a price benchmark and since it was so popular and since X is essentially sold out, I'd be curious to get your thoughts on what the going rate is (without parking and obviously depends on your floor and any upgrades if/any)

I personally thought originally that the going rate was around $500-$550 PSF but I'm now beginning to think that it could be around $550 - $600 PSF given the current market, demand for the building, and possible appreciation due to Great Gulf's growing reputation (One Bloor, X2, X, Bayside and 18 yorkville)

What do you think?
 
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The same week that X2 launched (about 3 wks ago), an assignment sale in X was listed on the mls. It was a one plus den, with east view.

I do not recall the specifics of price and size, but remember calculating it to be about 550 psf, parking not included.
 
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