Forest Hill Condos, The (Lash Development, The Goldman Group) - Real Estate -

stellab said:
Any owner can get a copy of the budget and ask questions about the cost of some services. However, my experience with a previous condo -- an old apartment building with few amenities, a full time superintendent -- is that condos with low maintenance fees are setting themselves up for future problems. They may be underfunded and when something arises that isn't in the budget, the condo corp has to charge a special levy that can be thousands of dollars. Your condo must have been huge to have been able to afford your amenities on such a low maintenance fee.

Also, I would like to know more about how our 'part time property manager' works. What that means, I think, is that they expect to spend a certain number of days a week managing our property and we pay them accordingly. I have no interest in hiring and paying a property manager to be here 5 days or more a week if the job can be done in two. We should wait and see how responsive they are and what they can accomplish in the part-time hours we are paying them for.

The new board should review the budget with the property managers, understand what we are paying for and identify where we might save money -- or at least cap expenses -- in the future. But I don't think we should automatically assume that because we are paying more than we expected that we are being gouged. I think our concierge services are pretty good; I'm not so sure about the cleaning services. But I'm in favour of a careful examination of the budget and taking the time to make prudent decisions. If we are too hasty, one way or another we will pay for it.
Click to expand...

Not sure how you would quantify "huge". The previous development was definitely larger than this one - exceeded the density by 60% or so. But it also had far more expansive & impressive facilities and services. In relative terms, it was a better run operation right at the outset. I think it is dangerous to accept high maintenance fees at such an early stage as the new norm, particularly for a building such as ours that boasts only the bare minimum. Later on, condos such as ours will be very difficult to turn over. When I do the math on this, I am paying 62cts/sq ft on my unit - which is higher than most new developments out there that I have looked at.

I have doubts that 2 days/week on-site for a PM can work. This means the PM is not around to monitor issues with the building and is not easily accessible. For example, because I have not been able to locate the PM on-site, I've sent several emails to them to have one of the street level door secured. I would expect such things to be handled promptly but nothing has been done; same with some hygiene/sanitation issues in the gym. But, I guess we are going through growing pains so I am perfectly happy to give this time to work out - and I hope it will.
 
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Hi, I am new to the site. I bought a unit last year. Any recent updates on the construction. Are we on schedule, Oct 2012 ??
 
I swung by the area on Monday and they're a floor or two away from being at grade. I was sent a newsletter saying that they expect to be at grade by July 15 so I guess we'll see.
 
I just received a letter today about scheduling appointments to pick out finishings. I think they'll have the finishings at the sales centre ready to look at soon if not already
 
I visited the sales center last Sunday. They still say the completion date will be pushed to spring 2013. I asked why ? They blamed it on the weather ??Then I found that the completion date for the Rushton project is Fall 2012 and the builder will provide some rental units to compensate for the units lost on 530 St Clair.So there might be some truth that we couldn't move in until the builder fullfill the reqirement of the city for rental units.The waiting time as getting longer and longer.
 
No, you didn't miss anything. I just dropped by the sales center last week because I was in the vicinity. I went there just to educate myself what sort of interior finishings they have. No I didn't join the face group. is there one ?
 
To UT adminisrator,
What happened to the posts from Aug 9/2010 up to July 6/2011 on this thread. I have been reading them and found the exchange of ideas so informative.
chwong
 
Looking for some feedback from the residents of 500 St. Clair. Are you happy with the building? Any major issues or concerns. Noticed that there are 2 units with the large terraces on mls which are located on the 4th floor. Going to try and sneak a peek at these sometime this week. A little curious as to why both hit the market at roughly the same time...hmm.
 
Ended up purchasing a unit a few months ago and must say that the building is amazing and well as the amenities but the visitor parking is the only downfall to this building. From what I understand 530 is suppose to have more spots and will be shared by both buildings since the access to the parking area will be through the same underground garage. Can anyone confirm this? I'll be popping into the sales center this week for 530 and will be asking the question. TIA!
 
Did you attend the purchaser's meeting last Thursday evening June 14 ? Where did you get this info about 530 sharing the parking with 500 ? Did anyone raise this question ? I was not able to attend because of prior commitment. You know that the sales center moved to 40 St.Clair West. Please let me know the answer once you talked to the sales staff.
 
Just a quick update. I have yet to visit the sales center but the entrance to 500 will also be shared with 530. It will definitely work. Poor garage door will get a workout :)
 
How did the PDI go ? How long were you allowed to stay and check things out ?Did they do a good job ? My PDI is on Dec 20th. Getting a bit nervous.
 
Actually one of my friend purchased a condo at this location. But now he wants to move to another place because of its low quality.
 
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