215 Lake Shore East (Greenland) - Real Estate -

Anyone know if any construction going on at the site as of now?

When do they need to provide explanations to us by?
 
DSC said:
Either you believe them or you don't - that's your call. Constantly asking for answers is not likely to provide any until they want to respond!
Click to expand...
Remember, they are sitting on PRIME Real estate in one of the hottest markets in the world! They may have to pony up or make less from Phrase ONE (Which is where we all are!), they may make it back in their other phrases. The good part is that this company is favored by the Chinese government by helping them to meet their loan obligations. That is all good news in light of WHAT IS!!! Samy
 
SamyChong said:
Remember, they are sitting on PRIME Real estate in one of the hottest markets in the world! They may have to pony up or make less from Phrase ONE (Which is where we all are!), they may make it back in their other phrases. The good part is that this company is favored by the Chinese government by helping them to meet their loan obligations. That is all good news in light of WHAT IS!!! Samy
Click to expand...
Favored might be a stretch. They haven't been left out to dry yet but the government certainly isn't jumping to bail them out either.

This project is a long ways off from actually starting and rest assured to those who keep asking, as soon as something comes up or there appears to be any signs of progress here, someone will document and post it.
 
There has been some assignment sales here at favourable pricing. Looks like some purchasers are slyly bailing out while/if they can.
Either their agents don’t know anything or not disclosing nor acknowledging the delays and difficulties of the developer — essentially screwing over the new buyers, but these buyers and their agents should know better and do their due diligence before buying anything on assignment.

It’s a shame as Greenland is a big and reputable international developer, but couldn’t get over the financial issues in China. They did a good job completing King Blue after taking it over from the troubled Gupta Group. I was looking forward to seeing Lakeside being built.
 
Last edited:
Hi everyone! Hope you’re all doing well!

Tomorrow (April 26th), they’ll have to send another notice regarding the occupancy delay.

I notice that some people have been messaging the city. Any updates? I find it very concerning that the city and Canadian bank(s) are allowing Greenland to sell Phase 2 units when Phase 1 is years behind schedule, with no progress in sight.

I think it’s important for purchasers to form an alliance to prevent them from cancelling or forcing us to pay more. I’ve heard of other developers making that attempt, but purchasers hired lawyers and won.

Of course the hope is that the developer can do their job, make some money and get us into our homes, but that outcome is looking a bit less likely with each year that passes. If they take longer than Aug 26, 2026, we’re entitled to delayed occupancy compensation, a refund (plus interest).

Is this the only group chat going or is there a discord, Facebook group, or something else? Just want to ensure that we do what we can to get our condos for the price we paid.
 
You must log in or register to post here.

Back
Top