[tc416]

Sounds like approx 1/3 sold then? Doesn't seem to be very fast seller considering the goldrush market.

yes. it's probably slow in such 'gold rush' market.. but then they hardly did any promotion unlike other monster lofts projects... I was at Printing Factory's grand opening weekend... they had TV camera crew and all... I couldn't get out of there fast enough honestly.

 

[tc416]

apparently an on-site sales center is being considered as well as new floorplans to be released for one of the two buildings in the project.

 

[cabbagetowner]

i heard you can now rent the lot for parking...

 

[gryffin]

Abode Lofts

Clean up work has begun on both sites.

 

[Thesb]

My brother bought a unit in this development in May of 2007. I think the original occupancy date has come and gone, and there hasn't even been a shovel in the ground yet. He is understandably nervous, having ponied up 20 grand cash for upgrades a few months ago on top of the original deposit. The developer keeps telling him construction will start "soon" - whatever that means. Before he goes to his lawyer for advice, does anyone have any insight or is it basically a case of "shut up and wait"?

 

[gryffin]

My brother bought a unit in this development in May of 2007. I think the original occupancy date has come and gone, and there hasn't even been a shovel in the ground yet. He is understandably nervous, having ponied up 20 grand cash for upgrades a few months ago on top of the original deposit. The developer keeps telling him construction will start "soon" - whatever that means. Before he goes to his lawyer for advice, does anyone have any insight or is it basically a case of "shut up and wait"?

Hey Thesb,
I also bought into this development but have paid no upgrades yet - last word was that shovels would hit the ground in July so I'm waiting to see if it happens first.

 

[Suzette13]

Hi Thesb and gryffin,

I've heard that the project's completion date is now winter 2011. In addition, the building permits have yet to be issued and can't be issued during the city strike. The wait continues ...

 

[tc416]

Abode Lofts Cancelled

Hi Thesb and gryffin,

I've heard that the project's completion date is now winter 2011. In addition, the building permits have yet to be issued and can't be issued during the city strike. The wait continues ...

I bought one too... but got the letter today that the project has been canned.

the hunt begins again....

 

[gryffin]

Yes - RIP Abode Lofts - I got the same letter. Very disappointed.

 

[Suzette13]

I got the letter yesterday too. I'm sad the project failed but am relieved I can now move on. The thought of waiting til 2011 was not a pleasant one. Best of luck finding a new place.

 

[cabbagetowner]

good for popper for returning the cash instead of limping along to the 2011 date.

 

[tc416]

what is the provision on the deposits paid... interests wise?

 

[Thesb]

Whoa. Anyone know what the law is regarding upgrade money - is that held in trust as well?

 

[tc416]

Whoa. Anyone know what the law is regarding upgrade money - is that held in trust as well?

hm... if the upgrade + base deposit is stated in your purchase contract then the total amount should be covered as per contract agreement.

But I didn't realize they were accepting payments for upgrades this early?!

 

[gryffin]

Abode Lofts Cancelled

Has anyone experienced the process for cancelling the Home Buyer's Plan past the deadline? With Abode cancelling, I need to reinput to my RSPs to draw again for HBP later but the CRA and my RSP person are telling me different things in regards to being able to do that without a penalty. Any help would be appreciated!