King West Life in Liberty Village (Plazacorp) - Real Estate -

A rental unit in #85 has popped up on MLS

guess occupancy has started.

Hope registration follows quick.
 
^^^
This weekend there were 3 townhouses that popped up for rent and they are all gone within 3 days with the 85 address.
They must be getting close on the 2nd floor and they are up to I believe 17th floor in 75.
I am apparently to close in 16 weeks on floor 12 so suggests they are finishing about a floor every week to 2 weeks.

Registration will occur likely by September.
 
interested said:
^^^
This weekend there were 3 townhouses that popped up for rent and they are all gone within 3 days with the 85 address.
They must be getting close on the 2nd floor and they are up to I believe 17th floor in 75.
I am apparently to close in 16 weeks on floor 12 so suggests they are finishing about a floor every week to 2 weeks.

Registration will occur likely by September.
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Ya they're up to the 17th floor or so for sure in 75 as I was originally supposed to close on May 1st but pushed it to the 30th myself.

As far as registration goes, as far as I'm aware, they don't need full occupancy to register. They need to have "substantially completed" construction which to me has already happened.
 
interested said:
I believe it is 80% occupancy.
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Not sure, but I was also reading something about "types of condo corporations" earlier today and it stated that a builder could register a corporation and add additional phases to it afterwards instead of registering them separately. I'll try to find that link.
 
I can't find it but this is from another builder's site:

What Is Registration?

Registration refers to the formal creation of the Condominium Corporation. The process is initiated when the builder submits plans and paperwork to the requisite governmental authorities, once all of the units and common elements within the project have been substantially completed. The condominium's declaration and description are ultimately registered in the land titles office, following their approval by the requisite governmental authorities. The entire process may take approximately two to five months following your interim occupancy.
 
I know that it is Plazacorps intent to close and register the building in September....at least that is what was told to me in the past. Whether it happens or not...remains to be seen.
Once they have closed 80% of the units they usually apply for registration though some builders drag their feet.
This building will close for 65/75/85 as one condo corp so it likely will happen approximately September.
 
interested said:
I know that it is Plazacorps intent to close and register the building in September....at least that is what was told to me in the past. Whether it happens or not...remains to be seen.
Once they have closed 80% of the units they usually apply for registration though some builders drag their feet.
This building will close for 65/75/85 as one condo corp so it likely will happen approximately September.
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The letter I received from Plazacorp a month or so ago says registration is expected in "Spring 2013". But I guess that can change and probably will.
 
^^^
Maybe they are a bit ahead of schedule. I believe the building probably is substantially complete and close to 80% completed or will be shortly.
Given they are starting to move in some people in 85 that would suggest that they are around 70% occupied. It may occur earlier however given that you said they moved back your occupancy date by 4 weeks, my September guess may be closer. Let's hope it is earlier rather than later.
 
My only concern with the occupancy was that I have 6 months to port my existing mortgage without penalty but I've cleared that up with my bank and they're willing to extend since it's new construction.

If it ends up being September I wouldn't be too upset but I'd prefer something that sounds more like JULY :)
 
^^^
I just got a notice postponing my occupancy by 2 days from Aug 20 to Aug 22 on Floor 12 in 85 East Liberty.
 
interested said:
^^^
I just got a notice postponing my occupancy by 2 days from Aug 20 to Aug 22 on Floor 12 in 85 East Liberty.
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Interesting...

I emailed a few people who listed units on Kijiji in your building. One of them was on the 8th floor and said occupancy would be in June.

Others on 3rd and 4th floor said occupancy was immediate.
 
2 days is insignificant.
I would think unless it is the end of June, the 8th floor estimate seems a bit rich to me. On the other hand, if they are filling the 4th floor, perhaps they can do a floor every week or 2.
 
interested said:
2 days is insignificant.
I would think unless it is the end of June, the 8th floor estimate seems a bit rich to me. On the other hand, if they are filling the 4th floor, perhaps they can do a floor every week or 2.
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Ya not a big deal...why 2 days though? They must have some kind of precise schedule that they're working off if they're pushing you 2 days.

How many units per floor? I've never really paid attention to that.
 
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