If I understand it correctly, the builder still has another cushion to lay on, that is called the Outside Occupancy Date which is Oct 15, 2025. Don't feel optimistic when this date is mentioned in the email :(
Outside Occupancy is a date after which the buyer can terminate the deal (if property is still not ready). It's a Tauron requirement and has to be included in the documents, I wouldn't read too much into it. It's in the developer's best interest to close as soon as possible.
 
Yeah, just based on how far along the actual building is I would be incredibly surprised if it's not ready by 2023... That being said; these new delays being announced for condos in ontario are worrying me...is there a chance this could impact us, or is that more so for buildings that have not been started yet.
 
We drove by it a couple days ago and it looks like construction has resumed. It's looking pretty good.

And I think you are right. The news was referring to new projects.
There's slow down of developers selling new preconstructions in Ontario amidst the rising mortgage rates.
 
OK great... I have one of the smaller 1 bedrooms (unit 1C 520 Sqft) and looking at comparables in the area i feel the prices have already gone up so much so that is great
 
Does anyone know about the property management company recruitment process?... I don't know how that works for new condos. I guess it's selected by the board once the board is established?
 
Does anyone know about the property management company recruitment process?... I don't know how that works for new condos. I guess it's selected by the board once the board is established?

There are three stages involved.

Fiirst, during initial occupancy, prior to registration, the new building is managed directly by the developer. The developer (the proper term for this role is the Declarant) chooses and hires the initial property manager. There may also be special considerations provided by the property manager in exchange for the contract - assistance in preparing the condominium documents, in particular the declaration, and the table of unit fees and so on. The property management company may also pay a rebate to the developer (i.e. a door charge or fee for each unit in the building. Similar to what certain telecom companies are understood to do, in order to get an exclusivity on the provision of the initial telecommunications services in the building).

Secondly, after the building has registered, an interim Board, known as the Declarant's Board, is responsible for managing the building. The developer appoints each of the members of the board - typically staff members of the development company. Normally, the Declarant's Board does not make any changes to the operational management of the building by the developer, and the property manager company that was hired by the developer continues in place.

The third, and final phase, is after the Turnover Meeting, when the Owner's Board is elected. The new Board has the legal right, for one year from the turnover meeting, to terminate contracts entered into by the Declarant and the Declarant's Board, including terminating the property management company hired by the developer, and replacing it with on of the condominium corporation's choosing. It is important to be aware of this right, we were not advised of it by our first legal advisor, as a consequence of this, and some other missteps, we parted ways with him very quickly.

The unilateral right to cancel contracts, including those of the property management company, does come with some restrictions under the Condominium act. The restrictions primarily pertain to services in which a third party has made some investment in the building - such as the aforementioned telecom services. I am not sure of the specific requirements with respect to provision of and billing by the energy sub-metering systems or third-party installation of EV charging systems - the new act may have changed some of these terms. You will need to check with your new corporations legal advisor once the new Board has been elected, and an independent legal advisor has been retained.
 
I'm looking at the floor plans that are included in the purchaser agreement documents for floor 7 and the top floor of the condo - on floor 7 it looks like there's a public terrace? (a door opens to it from the hallway) and on the top level, there's a giant terrace but I cant tell if it's connected to a unit, of if that is public as well? does anybody know?
 
I'm looking at the floor plans that are included in the purchaser agreement documents for floor 7 and the top floor of the condo - on floor 7 it looks like there's a public terrace? (a door opens to it from the hallway) and on the top level, there's a giant terrace but I cant tell if it's connected to a unit, of if that is public as well? does anybody know?
Sorry to be the bearer of bad news… but the giant terrace at the top level is indeed connected to a unit 😅 not sure about the floor 7 one though
 
I'm looking at the floor plans that are included in the purchaser agreement documents for floor 7 and the top floor of the condo - on floor 7 it looks like there's a public terrace? (a door opens to it from the hallway) and on the top level, there's a giant terrace but I cant tell if it's connected to a unit, of if that is public as well? does anybody know?

Could you please post a picture? Then we can see if we can match it with any of the penthouse floor plans.
 
I believe he is referring to this terrace.
5CF15C16-1568-424D-BF96-5675C35628BB.jpeg
 
the day i purchased my unit I got an email with my suite number, called Agreement of Purchase and Sale & Condominium Documents - in that email theres a link to condo documents and one of the sections in that link is "floor plan"
 
The development website doesn't list rooftop patio on the list of amenities. Some real estate sites mention "Rooftop Terrace with BBQ's" but I don't know where they took it from, possibly misinterpreting the info about rooftop patios on townhouses. The top level area, that must be the patio of Suite 2HH: outdoor space is listed at 1259 sqft.

The thing on the 8th floor, I don't know, though. That might indeed be a common element patio?... It's pretty large and I don't see any 8th floor-floor plans with wraparound patios.
 

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