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Concord Developments being sued

Not really. They lost (well, settled) before and it barely did a thing.

I know the big issue with Matrix/Optima is going to be the foundation, as it is apparently cracking like crazy due to a construction technique that was new to Concord that was determined to be a failure. Buildings west of Spadina have since been built to different standards. Im only assuming Park Place is also built to a higher standard.

It really sucks for people who want to sell in the buildings that are suing Concord, as every offer will pretty much get turned down by the banks while the case is in court. But, you gotta do what you gotta do. Tarion covers these defects up to 7 years, after that its up to the owners. Hopefully Concord steps in and does the work at no cost to owners, as these 3 buildings seem to keep coming back to haunt them.
 
I can't speak on behalf of the Matrix complex, but I can of Optima. I own a unit there.
The CBC got it wrong, the lawsuit is not for 20 million, ( it is much lower than that around 1million ) and there are no problems with the foundation. The problem lies within the windows in the penthouse level with water issues, and they need to be replaced. It is too bad Concord is not stepping up to the plate and being a responsible builder and fixing their mistakes.
 
Flux Capacitor said:
I can't speak on behalf of the Matrix complex, but I can of Optima. I own a unit there.
The CBC got it wrong, the lawsuit is not for 20 million, ( it is much lower than that around 1million ) and there are no problems with the foundation. The problem lies within the windows in the penthouse level with water issues, and they need to be replaced. It is too bad Concord is not stepping up to the plate and being a responsible builder and fixing their mistakes.
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Foundation is a completely separate issue that is currently being examined by engineers in your building, as well as a few others East of Spadina. There are large cracks, as the land which CityPlace was built on is still settling. It may become an issue in the near future for owners of these buildings.
 
hawc said:
Just out of curiosity, what do you do if there are cracks in the foundation and you've got an entire apartment building sitting on top?
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Tear it down and build a building that isn't built cutting corners! Seriously though, best of luck to the owners.
 
My buddy lives in the building with the foundation issues. I don't know how you fix the foundation of a 40 storey building. I'd be selling. Doesn't Concord have issues with their buildings in Vancouver too?
 
cracked foundations from settling would be a serious issue for a 40s tower ... i don't know if something like that is repairable.

how does one jack up the condo to shore up the foundation to make sure it wouldn't settle more ?!?!?
 
Tuscani01 said:
Foundation is a completely separate issue that is currently being examined by engineers in your building, as well as a few others East of Spadina. There are large cracks, as the land which CityPlace was built on is still settling. It may become an issue in the near future for owners of these buildings.
Click to expand...


Just out of curiosity, how do you know this? This is the first I'm hearing of this...The CBC didn't report of any foundations issues, I own a unit there, i go to every AGM and read the mintues of the board meetings and I haven't heard anything about foundation issues.
 
cdr108 said:
cracked foundations from settling would be a serious issue for a 40s tower ... i don't know if something like that is repairable.

how does one jack up the condo to shore up the foundation to make sure it wouldn't settle more ?!?!?
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Maybe something like what they're doing under Union Station?
 
Something similar happened with a fairly new condo up in Richmond Hill a few years back that began to sink and had foundation problems. I don't remember the details but it seems to me that it's fixable, but it's not cheap. Many older 60's & 70's apartment towers have been through similar issues with foundations beginning to deteriorate (not sink though). The cost can run into a million or two to shore up the foundations and supports but it's doable and becoming somewhat common now as the older highrise stock ages.
 
Flux Capacitor said:
Just out of curiosity, how do you know this? This is the first I'm hearing of this...The CBC didn't report of any foundations issues, I own a unit there, i go to every AGM and read the mintues of the board meetings and I haven't heard anything about foundation issues.
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I heard it from Councillor Vaughan. I don't know for sure that your foundation is cracked, but all of the buildings East of Spadina used the exact same construction method, so he has said they will all run into the same problem eventually.
 
Tuscani01 said:
I heard it from Councillor Vaughan. I don't know for sure that your foundation is cracked, but all of the buildings East of Spadina used the exact same construction method, so he has said they will all run into the same problem eventually.
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Well then, you don't know for sure. I have been to every AGM meeting, I read all the minutes in the board meeting. I even made a call to one of the board members of our condo. Even the CBC did not say we have foundation issues. I can assure you, there are NO FOUNDATION issues. It's amazing how rumors start from a simple reply on a forum like this.
 
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