RE4WealthCreation

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Yes this area is a great investment opportunity, With the way the toronto market is going, the value of units per square foot in these condos are very attractive. Cash Money is a tough one because they purchased the land so its not a lease I believe. Jesus Saves just needs a good offer I think.

The price per square foot on the towns were at low as $700 which is lower than the condos in the same development and lower than the two condos in the area that are being built (scoop, etc.).

I'm curious to see how that plays out. $700 just seemed so low but I'm coming from downtown where new condos can be 1400/sqft or above!

If that smart track stop ever gets built, this development will be only 20 mins from the core! That will change the income demographics of the area for the better.

Let's just hope we don't get an '08 financial crash before then!
 

mdim15

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Something I noticed just by looking at the building floor plans is that the unit I purchased is directly connected to the elevator shaft on the 9th floor. I was wondering if anybody with experience on living in a condo has any advice on when I should bring this up to the builder in regards to sound proofing? Do you think this is something I need to worry about?
 

DavidCapizzano

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At the most you’ll hear the ding of the elevator through your hallway door. I’ve lived in units abutting cores before and the elevator itself makes very little noise.
 

sebajun

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I am guessing that they are reluctant to start excavation during COVID-19. It is probably difficult to mobilize workers/equipment during this time. I would expect excavation to be delayed for a few months. I have no inside knowledge into what's actually happening, but that's just my guess.
 

mdim15

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So I'm assuming it's definetley delayed at this point right? Excuse my paranoia as I'm a first time home buyer but there's no way it will be canceled because of this right?
 

sebajun

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So I'm assuming it's definetley delayed at this point right? Excuse my paranoia as I'm a first time home buyer but there's no way it will be canceled because of this right?

Me as well - so fingers crossed for the best. Kind of hoping they send an update soon to purchasers to see what the impact will be.
 

mdim15

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Spoke to someone at the sales center over the phone in regards to a deposit payment and I also asked if we now fall under the new approved construction list and was told that we do not
 

AnthonyMatt

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When we signed for the unit there was a cap of 12000 for developer fees...has anyone gotten this lower or higher?just curious to know and was this a better deal then what other preconstruction projects are getting in this area?
 

sebajun

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When we signed for the unit there was a cap of 12000 for developer fees...has anyone gotten this lower or higher?just curious to know and was this a better deal then what other preconstruction projects are getting in this area?

We had the same. For us, it was $12,000 (development charges and levies) + $3,000 (public art levy). When I looked around in the area I thought this was on the average to low end of caps.
 

AnthonyMatt

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We had the same. For us, it was $12,000 (development charges and levies) + $3,000 (public art levy). When I looked around in the area I thought this was on the average to low end of caps.
I don’t remember seeing a public art levy but that’s good to know it’s on the low end
 

mdim15

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Love seeing construction starting! I'm not naive and know to expect delays, but I made the mistake of reading reddits view on preconstruction condos and they make it seem like anyone that does a precon made the biggest mistake of their life...
 

mdim15

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Question - this is my first ever preconstuction purchase. In a building like this that is so close to transit does having a parking spot add value when it comes to resale / rent ability?
 

Berlin

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I would say its more valuable if there is an actual subway station around but this is not the case. I mean until smart track station ever is built but that would like 10 years at least at the rate of the city projects. Either way im sure with all the condos in that area anyone who has an extra car will need to buy/rent a spot so of course its in demand.
 

sebajun

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It looks like the upgrades/colour selections should be coming soon (based on recent emails). Has anyone received their customization link yet? If so, any insight into what upgrades are available?

I am looking forward to making our selections!
 

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