yeah ilofts does seem to have slow down...Im still hearing California is "borrowing" some of the crew and machines from iLofts to start on their base.They want the foundations of both projects to be almost timed together to save money.iLofts owners again getting short changed..I talked to a purchaser about iLofts and she bought in 2006!!..she had a chance to buy another condo it another part of the city but she loves this area.She waited this long so she decided to keep the fingers crossed it be completed by summer of 2010.
 
any iLofts owners want to guess at completion date?...%100 for sure it wont be completed before March 2010.I drop by Sunday and they are barely above ground level.
 
I have a buddy who purchased in iLoft and he said that they're expecting occupancy to be Summer 2010. Although he wishes it would occupy earlier, he bought to live in the building because he likes the area and offerings, and he can wait for the product that he truly wanted. He also said that he had heard that delays were caused by hitting water when they were excavating - probably a common hurdle when digging close to the water.

Here's my own 'two sense' - maybe a little biased because I work close by - approx. 10 mins from the development - but take from it what you wish.

Even though my buddy is not an 'Investor - with the intention of flipping his unit as soon as he can', he's a smart investor, especially now considering where the market has come to today.

He bought into the project, not because of any type of speculated hype, but rather he bought there because he: 1) Liked the location 2) Felt he got good value for the price 3) Trusted the builder by their work in that community and around the city 4) Saw good value in the neighbourhood as a whole.

I'm kinda bummed that I didn't get in on this at the time, but I'm still saving up for my new purchase. I do recall reading that "The Tides" was one of the top buildings for re-sale value in the city - I will dig for the source to back that up.

I think it's important, now more than ever, to buy to live in or invest in properties that have true value like how my buddy described, rather than reacting to hype and pressure because everyone else is making a poor decision.

Thoughts anyone?
 
Funkster exactly why I bought..its was a "sleeper" project,not to much hype except the occasional billboard or radio slot.The location was still pretty much bare with little sense of community.The Skylofts really blocked the view from the highway so drivers barely even notice it.The builder had a good reputation of offering value and the quality was good for the price.ALOT of brokers I know like the project and the area,the "by the sea" hype was a positive for iLofts because buyers were now noticing the location as the next "big thing on the shores".I was told iLofts there were very few speculators,most bought it for a home not a quick flip which is really great to know.In this area you should expect very few "student renters" and more of a working class age group of 25-40.From what I understand majority of buyers were between 25-30.I was told by very very reliable source first tenant should be in by April 2010.
 
That makes sense - my buddy bought on a high floor, so his occupancy will probably be a little later than the first levels.

On a side note, based on their ad in the Condo Guide, the pricing in general still looks attractive. I'm surprised, considering the other projects that are selling in the area. Maybe by the time I have all my $$ saved up, I will be able to get something in California Condos if they have any left.

Have you seen the podium in the summer? I checked it out last summer and it looked like a resort!
 
reason I bought was because of the extras..full gym..out door track,small but usable pool,picnic areas,theater,pool hall,squash court,patio,etc,etc..show me one condo project in the core of the city that has all of this at this price level.Quiet area,minutes from the shores,great area for pets.Cant wait until this place is completed.Tides value is really strong..a 4 year old two bedroom is still selling for about $345,000..not shabby at all......
 
^ Not shabby at all!! I'm sure your suite will get a good ROI. Do you work in Sales for the builder? If not, you should approach them as you did a good sell! hah.

I agree with you, the area is great for being just outside the city - you get everything you need at a fraction of the cost.

Construction there is moving along nicely...I'll keep better tabs on it once the weather warms up a bit.
 
ducati0000 said:
Funkster exactly why I bought..its was a "sleeper" project,not to much hype except the occasional billboard or radio slot.The location was still pretty much bare with little sense of community.The Skylofts really blocked the view from the highway so drivers barely even notice it.The builder had a good reputation of offering value and the quality was good for the price.ALOT of brokers I know like the project and the area,the "by the sea" hype was a positive for iLofts because buyers were now noticing the location as the next "big thing on the shores".I was told iLofts there were very few speculators,most bought it for a home not a quick flip which is really great to know.In this area you should expect very few "student renters" and more of a working class age group of 25-40.From what I understand majority of buyers were between 25-30.I was told by very very reliable source first tenant should be in by April 2010.
Click to expand...

how does a builder know if a buyer is going to live in the unit as opposed to renting it out?
 
cabbagetowner said:
how does a builder know if a buyer is going to live in the unit as opposed to renting it out?
Click to expand...

just say the sales staff knows whos going to live there and those who bought as a investment.I know for a fact that majority arent renters.Even at Tides about %90 those living there are owners.

hmm they are on the lobby levels now...a lot of work at the rear hasnt been complete though..they are taking their sweet time on this project,it better be worth it.
 
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Advice Anyone?

Hi all

I'm looking to buy my first condo.
Is mystic pointe a good and affordable neighborhood?
How far is it to let's say - the Eaton Center in the mornings?
Do you recommend buying pre-constructed or resale in the area?
Your views on Skylofts since there are a a few units I like.

Thanks in advance!

Q
 
cabbagetowner said:
how does a builder know if a buyer is going to live in the unit as opposed to renting it out?
Click to expand...

they can't... i know there's a lot of investors involved in this project which means once the construction is done there's gonna be like a hundred units for sale which will drop in price...

would never get a unit at this shabby place... :)) right ducati? :))))
 
I hear good things about Camrost Felcorp's products ... but never lived in one myself

I think the overall Mystic Pointe community was well developed and has established a true sense of community, specifically with regards to Skylofts I like the floor to ceiling 2 storey windows, I would only be concerned about proximity to + noise from the Gardiner (if the unit faces north) ... and as long as you like the semi-industrial exterior design, I think it is the right place to be ... it can only get better with time

borisp ... don't start battles now :D ... I'm sure that some like South Beach, some like California, and some like both .... its all a matter of personal preference :cool:
 
borisp said:
they can't... i know there's a lot of investors involved in this project which means once the construction is done there's gonna be like a hundred units for sale which will drop in price...

would never get a unit at this shabby place... :)) right ducati? :))))
Click to expand...

it's impossible to know for sure, but i've heard 30 - 50% of condos in t.o. are bought by investors. why would these condos be any different. wouldn't be surprised if some of the posters on this thread were originally intending to flip these units.

salespeople would never accurately know. sometimes the buyer doesn't even know. a lot can happen between signing the aps and the move in.
 
Solaris said:
I hear good things about Camrost Felcorp's products ... but never lived in one myself

I think the overall Mystic Pointe community was well developed and has established a true sense of community, specifically with regards to Skylofts I like the floor to ceiling 2 storey windows, I would only be concerned about proximity to + noise from the Gardiner (if the unit faces north) ... and as long as you like the semi-industrial exterior design, I think it is the right place to be ... it can only get better with time

borisp ... don't start battles now :D ... I'm sure that some like South Beach, some like California, and some like both .... its all a matter of personal preference :cool:
Click to expand...


Exactly my point... everyone has their own opinion of stuff... some people called them 'facts'... ;)
 
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ilofts or California

Whatever the choice, Its an excellant location for transport to either downtown toronto or into Mississsauga.

The traffic is congested at rush hour in both directions.

I would dearly like to see a LRT along the lakeshore that ran straight to Union Station
 
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