Solaris
Senior Member
Thanks UD .... interesting name: fuse condos
at $400 psf I wonder how it'll be be received given the location
at $400 psf I wonder how it'll be be received given the location
- Thread starter AlbertC
- Start date
hatfield
New Member
we got the call re: mortgage documentation as well last week.
To be honest, I wouldn't read too much into it. If anything its likely a positive sign that they are lining up all the financing now, and need to get all the documentation in order. Seems like progress. My guess is that if they are launching Phase 3 & 4 (Fuse) in the spring, Phase 1 NEEDS to be underconstruction - hard to sell their credibility if nothing has happened on the first phase when they're launching the 3rd and 4th.... So, likely we'll see some action on the site in the new year. Dec 2011 occupancy won't happen, but I'm hoping for early 2012. We all have to keep in mind that while its frustrating to have all the delays, this is the downside of buying prebuild. The upside is we get a huge discount in price, and will likely walk in the door making a nice return, let alone waiting 5 or 6 years for the neighbourhood to improve. We will have paid a 2008 price for a brand new condo in 2012. My unit, 844 sq ft 2 BD 2 Bath in phase 1, was $255k. Now, on the website its selling for $285k. Theoretically, I've made $30k already (i know this may play out differently in the real world, but the point is we will make money when we move in).
Another note, on the website it now says Phase 1 is 85% sold. I remember a few weeks ago and I'm sure it said 75%? Can someone confirm? If so looks like stuff is happening.
To be honest, I wouldn't read too much into it. If anything its likely a positive sign that they are lining up all the financing now, and need to get all the documentation in order. Seems like progress. My guess is that if they are launching Phase 3 & 4 (Fuse) in the spring, Phase 1 NEEDS to be underconstruction - hard to sell their credibility if nothing has happened on the first phase when they're launching the 3rd and 4th.... So, likely we'll see some action on the site in the new year. Dec 2011 occupancy won't happen, but I'm hoping for early 2012. We all have to keep in mind that while its frustrating to have all the delays, this is the downside of buying prebuild. The upside is we get a huge discount in price, and will likely walk in the door making a nice return, let alone waiting 5 or 6 years for the neighbourhood to improve. We will have paid a 2008 price for a brand new condo in 2012. My unit, 844 sq ft 2 BD 2 Bath in phase 1, was $255k. Now, on the website its selling for $285k. Theoretically, I've made $30k already (i know this may play out differently in the real world, but the point is we will make money when we move in).
Another note, on the website it now says Phase 1 is 85% sold. I remember a few weeks ago and I'm sure it said 75%? Can someone confirm? If so looks like stuff is happening.
benberly14
New Member
I've noticed that also that it went up from 75 to 85%. I also agree that they will get started before launching phases 3 & 4 Fuse condos because it would definatly look bad on there part. I'm very confident that we'll see some action soon
Matt0045
New Member
Hey all.
i guess i missed this money maker condo.
went to the sales office last week. interested in buying one of the last few left in phase 1.
think its still worth the 'new' prices.
p.s. Anyone will to sell
i guess i missed this money maker condo.
went to the sales office last week. interested in buying one of the last few left in phase 1.
think its still worth the 'new' prices.
p.s. Anyone will to sell
itchingtomove
New Member
When I went to the sales office to drop off my proof of mortgage, the sales lady (Amy i think) told me that they are now 90% sold for phase 1. She also told me that there are a few units in phase 1 that they haven't released yet. Remember the one they advertised that was 900 and something square feet? For some reason they are holding on to some of them and they are going to release them as 'special edition' units, some located on the mid-level terrace. They're really nice. Also, when i pointed out to her that the ground will soon freeze and digging will be impossible, let alone setting the foundation...and she cocked her head and said, 'oh yeah, i didn't even think of that'...lol, so I'm not sure if even she knows exactly what is going on.
Rikk
Active Member
Hey all.
i guess i missed this money maker condo.
went to the sales office last week. interested in buying one of the last few left in phase 1.
think its still worth the 'new' prices.
p.s. Anyone will to sell
LOL @ Matt.........................I will sell you mine hahahah...I think you will have a line up of selleres here.
But seriously I was taking to the sales office today following up on a few things......and the sales person did state anyone how bought early has made money......well I hope this is true........take your sqft x 400 plus the increase per level.....then you will have a good idea on how much potentially you could be making in profit......if you do ever flip it.
Anyone on the 14th jst add 11k to the calculation.
They could still do the foundations but when the temp goes below -10 then it startes to become diffecult......and as Bev pointed out in a posting the City of Toronto application status seems to have some issues for the permit to start the foundation....another delay.......
r.
nifty
New Member
Those who received the call about proof of mortgage, what number did it come from? I didn't receive any calls yet but I will check my caller ID. And if say you don't provide the mortgage approval, are they actually going to cancel your unit? Geez. Is this even normal practice for prebuilt condos nowadays?
Rikk
Active Member
Hi Bev,
I have chatted with Sam the engineer for Toronto who approves the permits for this location and all this means is that the city requiers more information so that they can approve a permit.
Today and yesterday there has been some activity;they uncoverd some pipes with an excavator and they were doing some messurements....
R.
benberly14
New Member
Application: Partial Permit Status: Permit Issued
Location: 816 LANSDOWNE AVE
TORONTO
Ward 18: Davenport
Application#: 09 199695 FND 00 PP Issued Date: Dec 9, 2010
Project: Apartment Building Partial Permit - Foundation
Description: FOUNDATION PERMIT FOR BUILDING F - Part Permit - Construct new 14 storey residential apartment building (Building F) on former lands occupied by American Standard containing 297 residential dwelling units complete with two levels of below grade parking. Refer to related permit for new apartment building located at 812 Lansdowne Ave-Building E.
PP Building Inspection Pt3
Inspection Weick, Alex
Finally!! permit issued, anyone hear anything as to when they may get started now? Kinda good to finally hear some good news for once lol
Location: 816 LANSDOWNE AVE
TORONTO
Ward 18: Davenport
Application#: 09 199695 FND 00 PP Issued Date: Dec 9, 2010
Project: Apartment Building Partial Permit - Foundation
Description: FOUNDATION PERMIT FOR BUILDING F - Part Permit - Construct new 14 storey residential apartment building (Building F) on former lands occupied by American Standard containing 297 residential dwelling units complete with two levels of below grade parking. Refer to related permit for new apartment building located at 812 Lansdowne Ave-Building E.
PP Building Inspection Pt3
Inspection Weick, Alex
Finally!! permit issued, anyone hear anything as to when they may get started now? Kinda good to finally hear some good news for once lol
Rikk
Active Member
yyzfa
Active Member
Thanks Ben for posting the info. Great news indeed while entering the weekend. Perhaps there's a slight chance that they can get the ball truly rolling before the ground freezes.
discomouse
New Member
In reference to people worrying about construction issues with the ground freezing: I was also curious about this and I asked a friend of mine, who is a professor in the construction program at George Brown College. He reassured me that nowadays they can put up buildings at pretty much any time of year, and have come a long way in terms of technology... He told me that last year he brought his students on a field trip to a condo construction site in Etobicoke -- It was -17 and they still poured the concrete foundation and stairs that day. They do take some extra precautions, but they know what they're doing, and if it's cold it's still business as usual. There was a time when construction workers were out of work in the colder months but now they work year-round, digging and pouring and doing just about everything.
I also asked if a condo can really go up that fast... I mean, they're still saying roughly Dec. '11 right? It's hard to believe that from a little patch of dirt that is there right now, will spring up a 14 story building in less than a year. Again I was told not to worry too much. Once they lay the foundation and the structual support for the first few floors, elctricians are sent in to work from the bottom floors up, while the construction is still working it's way up. Once the electricians are through then the plumbers come in, and so on and so forth. While delays are not uncommon for these sorts of things, they are able to put up condos faster than ever these days.... Hope he's right!
Hope that aleviates some anxiety for some people? I know it's a big investment and we are all worried that things will go wrong... It's best to try not to get too worried about things we can't entirely control. Just my 2 cents worth! Once there is more activity on site we will all feel better -- Hang in there folks!
I also asked if a condo can really go up that fast... I mean, they're still saying roughly Dec. '11 right? It's hard to believe that from a little patch of dirt that is there right now, will spring up a 14 story building in less than a year. Again I was told not to worry too much. Once they lay the foundation and the structual support for the first few floors, elctricians are sent in to work from the bottom floors up, while the construction is still working it's way up. Once the electricians are through then the plumbers come in, and so on and so forth. While delays are not uncommon for these sorts of things, they are able to put up condos faster than ever these days.... Hope he's right!
Hope that aleviates some anxiety for some people? I know it's a big investment and we are all worried that things will go wrong... It's best to try not to get too worried about things we can't entirely control. Just my 2 cents worth! Once there is more activity on site we will all feel better -- Hang in there folks!
Rikk
Active Member
Hi,
Update..........The sales office is now closed at that location and there is a sign stating they will be launching "FUSE" just as UbanDreamer mentioned. Also the note stated that there are a few unit available and to contact them if interested so this is very promising in my opinion.
I did have a chat with the sales person last week and she did say that this would be happening...but shd did not know when exactly and there is huge bin in the back for demolishing also.
R.
Merry Christmas
Update..........The sales office is now closed at that location and there is a sign stating they will be launching "FUSE" just as UbanDreamer mentioned. Also the note stated that there are a few unit available and to contact them if interested so this is very promising in my opinion.
I did have a chat with the sales person last week and she did say that this would be happening...but shd did not know when exactly and there is huge bin in the back for demolishing also.
R.
Merry Christmas
yyzfa
Active Member
Just wanted to take a moment and wish my future neighbours a Very Merry Christmas as well as Happy Holidays for those who don't celebrate Christmas, may 2011 bring you all great joy, peace, good health, and most important, great and positive moments that will last a lifetime. Looking forward to meeting you all soon.
mk2vr
New Member
I just found this forum the other day, and after skimming through all 23 pages have found some usefull info. As a phase 1 purchaser, i called the sales office several times asking about the delays only to be given the "run around" so to speak.. so just wanted to say thanks for the info.. now that the permits have been passed, are there any more updates as to when actual digging will begin?