Thanks Solaris, so what you are saying is that they can force me to move in and delay the final closing indefinitely, all the while charging me rent when I should be paying off my mortgage? And I will be charged the condo fees on top of the occupancy fees/rent? Wow that sucks big time! Like I said I thought they were up into the 20th plus floor on both A and B so how could this happen? This is a year away!

Solaris said:
asiancolossus ... your "final" closing only happens after your initial occupacy (aka "interim" closing), which is also when you start paying the occupancy fee/rent ... and more likely than not, when you first move in the recreational amenities will not be ready yet (while you continue to pay occupancy fees/rent)
Click to expand...
 
indeed it sucks ... but if you read through your Agreement of Purchase & Sale, you'll find clauses that are along the lines of "the purchaser shall take occupancy of the suite upon notice of the vendor" ... no IFs nor BUTs

generally though, a builder wouldn't indefinitely delay the 'final closing' and make purchasers pay rent forever (generally 6 months... worst I've heard is 16 months), since the developer only collects your money in full at final closing ... I understand that during the occupancy period you only pay "rent" which already covers for the property tax, maintenance fees, and (maybe) utilities
 
Wait, but he shouldn't have to pay condo fees on top of those occupancy fees, should he? I mean, he's only paying the occupancy (rent) fees until the project is registered as a condo, correct?

asiancolossus: If this is your first letter noting that it will be delayed, you can probably expect it to be delayed a second time passed that date too. Having been on UT for nearing 10 years now (hmm, how long has it been anyways?), it seems that every project receives at least 2 major delays along the way. Some many more.
 
Thanks again solaris. I hope that they are reasonable and I can move in relatively close to the final closing. I hate the idea of paying rent, thats the whole reason I bought so I didn't have to anymore.

Solaris said:
indeed it sucks ... but if you read through your Agreement of Purchase & Sale, you'll find clauses that are along the lines of "the purchaser shall take occupancy of the suite upon notice of the vendor" ... no IFs nor BUTs

generally though, a builder wouldn't indefinitely delay the 'final closing' and make purchasers pay rent forever (generally 6 months... worst I've heard is 16 months), since the developer only collects your money in full at final closing ... I understand that during the occupancy period you only pay "rent" which already covers for the property tax, maintenance fees, and (maybe) utilities
Click to expand...
 
Hi cassius, from what I understand, there had already been a one year delay on Discovery 1 from December 2009 to December 2010, so this would be the second, I didn't buy until end of last year when they told me about the December 2010 date.

cassius said:
Wait, but he shouldn't have to pay condo fees on top of those occupancy fees, should he? I mean, he's only paying the occupancy (rent) fees until the project is registered as a condo, correct?

asiancolossus: If this is your first letter noting that it will be delayed, you can probably expect it to be delayed a second time passed that date too. Having been on UT for nearing 10 years now (hmm, how long has it been anyways?), it seems that every project receives at least 2 major delays along the way. Some many more.
Click to expand...
 
I actually had my agent call Concord about 2 weeks ago and they told me my unit (building e) was going to be delayed about 6 months from what they told me occupancy was (june 2011)...

but with pre-construction condos, there is no way to get around delays... its a fact of life...

however, thank goodness i got a relatively high unit (18th floor) in building e where they only have 19 floors (well, really its 15 cos they are skipping a couple of floors in the middle), we get to move in closer to when the building is actually finished since they start moving in the lower floors first...
 
Does anyone know of the future occupants of the commercial space for this project? Any some-what big names? What effect does having commercial space down below a condo development have compared to ones that don't?
 
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August 20 2010 update

Substantial progress has been made at Discovery @ Concord Park Place :cool:

Discovery 'A' + 'B' nearing completion - a complete 360
Click to Enlarge


Discovery 'A' podium townhouses


Discovery 'C' townhouses - not liking the brick colour


Discovery 'D' on 10th floor


Discovery 'E' on 10th floor


Balcony Glass Detail - with capped balcony edges :)


Recreation centre & staggered windows design (as per rendering)

Discovery_pool.jpg


Retail space fronting Esther Shiner Blvd


ps: MODs please note that Discovery 'E' has grown from 12s to 16s ... so technically this project is now 2x 28 + 16 + 12s :eek:
 
Great pics!!!

I am located in Building D. Since buildings A+B have been delayed till June 2011, I can only assume building D+E will be delayed till Dec 2011. Still wondering why it would take another 16 months to complete a building (D) when it only has about 12 floors.
 
AMAZING update. Thank you :)

I'm gonna sit with them for awhile and will then post my impressions.
 
thanks Solaris for the pics, I have the one of the podium townhouses in building A and frankly not that thrilled with the brick colour either. Its hard to tell but looks like its elevated? In addition are the windows on the second floor fully slideable so you can have a totally open window? I'm going to have to visit it soon. So it is surprising why the delay until closing in June 2011. It looks pretty well done to me.
 
rare occasion that we were up at Leslie and Sheppard today, no camera unfortunately, these buildings looked very attractive in the fall sunlight....never realized before that they are jet-black in colour....at least, that's the way they looked today...very sharp...
 
yyzer said:
rare occasion that we were up at Leslie and Sheppard today, no camera unfortunately, these buildings looked very attractive in the fall sunlight....never realized before that they are jet-black in colour....at least, that's the way they looked today...very sharp...
Click to expand...

One side is, the other is slightly green - it's interesting how the two colours meet on the sides of the building ... I very much like these buildings so far - at least from far away.
 
September 9 2010 update

Discovery 'A' + 'B' @ Sunset ~
IMG_5035.jpg
 
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