Below is a link to a video that shows some of the construction footage and an article that ran on the front page in last Friday's Toronto Star Business Section on what it took to build Canada's Tallest 78 storeys Condo, Aura. Canderel set a record already for the tallest residential structure built in the country. This building has set engineering and construction precedents that will probably not be replicated for a long time.

Also, on Tuesday, October 22nd Canderel will release penthouse suites, one of a kind in the country, on 77th & 78th floor. These penthouse suites are starting form under $1 million. As a preferred Realtor for Canderal once again we have been given the first opportunity to share this info & exclusive discounts with our clients before the public opening. I will share some exclusive info on Oct 22nd.

http://www.thestar.com/business/201...st_residential_tower_reaches_for_the_top.html
 
Is this something new? The penthouse suites (4 each on the 76th & 77th floor) have been advertised on the Aura site for years, each for 3 million plus, the 2 suites on the 78th floor for even more. Are they restructuring them?
 
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^^^
Developers are interested in selling the property. They tried to get 11 Million or so for the whole floor. Failing to sell, the next solution is to reconfigure the floors to smaller units which may sell.
I believe that developers sometimes even deliberately put up a showcase penthouse to increase the prestige value of the building and to justify high prices on the floor below.
For e.g. in the case of Aura, I am selling exec floors at say $800K+ to say $1.5 million. To help sell it, I point out that you are 1 floor below an 11 million dollar penthouse. That adds prestige and makes the exec floor individual feel like he getting "a bargain". Now as the building approaches completion, and most is sold, they have to get the penthouse floor sold as well and whether you get 11 x 1 million or 1 x 11 million doesn't matter to the developer...he just wants his profit.
This is not unique to Aura but to other developments/developers as well. It is all part of marketing.
 
67Cup said:
Hanlansboy,, all the best with your treatment. Go safely and well!
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Thanks, it's surgery, radiation and chemo, not fun, but I'm kind of use to it, gives me lots of time to read all the fantastic posts here! (But fingers crossed just in case)
 
BrianSolo said:
Is this something new? The penthouse suites (4 each on the 76th & 77th floor) have been advertised on the Aura site for years, each for 3 million plus, the 2 suites on the 78th floor for even more. Are they restructuring them?
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I have been advised that new floor-plans will be released with some new exciting incentives which I don't think developer will appreciate me sharing them here. These penthouse collection are from 900 sq.ft to 1855 sq.ft.
 
I am interested in purchasing an assignment unit in Aura for one bedroom + den as a long term investment (5 years or more), but when compared to a fairly new re-sale unit such as 111 Elizabeth, the price is much higher when compared to 111 Elizabeth. Can a real estate expert comment if I should buy a new unit in Aura or buy a unit such as 111 Elizabeth for long term investment purposes.

Thank you
 
Johnzz said:
Hey Ka1, when is your estimated occupancy date now?
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Hey Johnzz,

In a letter dated February 14, 2014, I was advised that estimted occupancy date for my unit, on 62nd floor, now is August 1, 2014. No further news since then.

By the way, I had spoken to someone in AURA office on an unrelated matter. I was told that the expected condo registration is Spring 2015.
 
I wonder if that's the estimated registration for the top half of the building (there will be 2 separate condo boards). So maybe the bottom section registration will be this year.
KA1 said:
Hey Johnzz,

In a letter dated February 14, 2014, I was advised that estimted occupancy date for my unit, on 62nd floor, now is August 1, 2014. No further news since then.

By the way, I had spoken to someone in AURA office on an unrelated matter. I was told that the expected condo registration is Spring 2015.
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BrianSolo said:
I wonder if that's the estimated registration for the top half of the building (there will be 2 separate condo boards). So maybe the bottom section registration will be this year.
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I know that the occupancy date for one of the units on the highest floor of the lower condo corporation gets the keys on September 2nd, 2014 (according to the most recent builder's notice). I imagine it will be one or two months max after that until the registration. Based on that my estimate for the lower corporation is October or November of this year.
 
Larissa Doherty said:
I know that the occupancy date for one of the units on the highest floor of the lower condo corporation gets the keys on September 2nd, 2014.
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I wonder, could that unit be a "hoist" unit? Strange that it would have a later occupancy date then the top condo corp.

Thank you KA1. My unit is just shy from the top and I’ve received the same occupancy date. I guess they’ve issued that date for the entire top section (56th-79th). Next Spring seems like a very late registration date. I was hoping to arrange mortgage preapproval’s soon, but with registration a year away, I guess there’s not much point at the moment.

Thank you all for the info. :)
 
Johnzz said:
I wonder, could that unit be a "hoist" unit? Strange that it would have a later occupancy date then the top condo corp.

Thank you KA1. My unit is just shy from the top and I’ve received the same occupancy date. I guess they’ve issued that date for the entire top section (56th-79th). Next Spring seems like a very late registration date. I was hoping to arrange mortgage preapproval’s soon, but with registration a year away, I guess there’s not much point at the moment.

Thank you all for the info. :)
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Yes, it is a hoist unit. That probably explains it.
 
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