[someMidTowner]

Thread for real estate discussion about The Sher Corporation and Dream's Ivy Condos

 

[Momin]

UT update: http://urbantoronto.ca/news/2016/12/32-storey-mutual-street-tower-hits-market-ivy-condos

 

[willwu]

None. The vacated houses are still fenced off, and demolition hasn't started yet.

I just called the sher and they said they would continue instead of cancle.is it possible to cancel?some worried.

 

[Chopper1953]

Yes, I can see why they would like to cancel... prices are up 40% in 2 years.

 

[lenyado]

oh my! the redesign removed the balcony - big reason i considered buying it. is it now a fraud they've completely removed it?

 

[mkcui]

Yeah it's ridiculous, all balconies are replaced with Juliet balconies. Assuming, all the purchasers got an letter in the mail from Dream/Mutual St Inc. to either continue or terminate the contract without any sort of compensation to its purchasers...

 

[KJ123]

Also received the registered mail from IVY Condominiums. Why was there no explanation for the sudden cancellation of the balconies? How can there be no compensation for this?

 

[taichimaster1234]

From what I understand from the revised submission (letter to the City), it appears that it is based on "efficiency". What that means is anyone's guess.

I don't think I saw anything in response to the city that the balconies were an issue that had to be removed.

 

[karledice]

My friend bought here! He's planning to discuss with a lawyer about this change. I recommend the owners get together and speak in unity on the balconies cancellation!!!

 

[lenyado]

exactly. that's ridiculous... many new condos around and balcony was one of the important factors i considered buying it (wouldn't even consider it if i knew there would be no balcony). I am extremely upset by this, i hope something can be done about this.

 

[Subrinamia]

My friend bought here! He's planning to discuss with a lawyer about this change. I recommend the owners get together and speak in unity on the balconies cancellation!!!

Yes,agree about that!

 

[pianiel]

I wish you guys good luck.

But at least it seems they will finish the project. This one was at high risk in my opinion.

Dollar per sqft range from $690 to $900 depends when you purchased. That's a lot lower than today's market.

 

[willwu]

Because the price has risen sharply, this project has been very fortunate not to cancel. The balcony seems to be a revision of the government. They only gave two options, cancel the refund and interest or accept. Cancellation, modification of the clauses in the construction contract. Fighting is not significant unless you are willing to cancel your money back.

 

[Ahwil]

Does anyone have additional update on the project since the last received mail?

 

[lenyado]

What mail you guys received? I haven't seen any mail so far...