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M1 + M2 + Metropolis + Parkside Condos (Liberty Development) - Real Estate -

mrl14 said:
Rogers is coming to install internet for me in M2 on Aug 22nd. Spoke to Sandra and she took care of everything. You will have to give her the 55 De Boers address, as that is what seems to be throwing them off.
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Weird that you'd need to give them the De Boers address even though you're in M2 - hope the technicians don't get confused... Glad the problem with M2/Rogers is solved now though - Free Cable/Internet for all!

mrl14 said:
Also, I was told we don't need our mortgage setup until the building registers...is this correct?
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That's correct - your mortgage doesn't kick in until the unit actually becomes yours (i.e. when the building registers) so you have the time in between to still shop around for your mortgage.

On a similar note, for those using their RRSPs I know there's a T1036 form from the government that we're supposed to fill out (http://www.cra-arc.gc.ca/E/pbg/tf/t1036/)... has anyone gone through this process yet? I assume this also doesn't need to be done until the just prior to the building getting registered...
 
no_joke said:
hey - been lurking on this for a while, so i thought it was time to chime in. i've purchased in M1.

GPalltheway - thanks for the pictures, really helps brace me for the situation. over all i think your unit looks relatively well put together (hardwood floors look great!), but i think the adjustment to your kitchen is rather unfortunate. Its a pretty sleazy move on Liberty's part. in your unit the kitchen design was very tight already. i hope it all works out for you, and you find it manageable.

i'd love to get some feedback on people's views regarding the location. when i bought (about 15 months ago), the location made a lot of sense, as i worked right in the area, and i could picture myself hoping on the subway to go into downtown to socialize. also, i was led to believe that the neighborhood was a hotbed of future development, as was ready to explode in value and density. in a truly unexpected circumstance, my location of employment has changed, and the sheppard/allen area is not as practical for me to live in anymore. plus, i now have mixed feelings about the safety of the location. since no other developments have been announced, it looks like the population density is not about to rise-up anytime soon. i've tested out taking the subway to downsview late at night, and i have found it to be kind of creepy, as the cars and station are basically empty at night.

i know i might just be having pre-occupancy jitters, so i would certainly love to hear from people who may have a more upbeat take on the situation.

also, does anyone have any measure on re-sale value / lease opportunities? i know we won't really know for sure until people start selling their units. my original plan was to sell in 3 - 5 years, but if i find i'm not happy in the area, i may look to lease, or sell earlier. does any one have any thoughts or knowledge in this area?
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Well first off I think location is great. It's a 2 minute walk to the subway and a 5 minute drive to the 401. I actually went to high school at W.L Mackenzie which is about a 5 minute walk from allen and sheppard. My girlfriend's dad and grandparents also live on Waterloo and wilson heights, which is also a 5 minute walk, so I am very familiar with the area. Population density is definately expanding quite rapidly, at least on the east side of the Allen. 6 or 7 years ago non of those new condos along sheppard were there. Now there is about 6 of them with a bunch more getting ready to be built or already being built, plus our complex. I think in terms of an investment the location has great potential to appreciate in value. Do I think when I go to sell in 5 or 6 years I'm gonna get 15 offers and sell $50K above asking like they do ot yonge and sheppard (had this happen to a friend last year)...NO but I do think there is a lot of potential.

As for the area not being safe, I think it is really safe. It's a residential area with a good high school right next door. I would agree that Downsview station at night can feel creepy, but that's just because it is the last stop on the side of the line that isn't used that much, especially at night. But that should be changing once we all move in and M3 and M4 are completed. I'm sure a lot of us will be using the subway. 4 condo's = a lot of people. Not to mention the fact that the subway is expanding north from Downsview so in 5 years (fingers crossed) when it is ready Downsview will no longer be the last stop and the trains will be more full.
 
coldstudios said:
On a similar note, for those using their RRSPs I know there's a T1036 form from the government that we're supposed to fill out (http://www.cra-arc.gc.ca/E/pbg/tf/t1036/)... has anyone gone through this process yet? I assume this also doesn't need to be done until the just prior to the building getting registered...
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I believe you can withdraw from your RRSP so long as you make your qualifying purchase with one year. Don't quote me on that. Your bank should have all the form and should be able to answer any questions.
 
Congrats on the purchase and welcome :)

I kind of understand how you feel - especially if your location of employment has changed, I can see how you might feel it's not the best location for you anymore. But I still have hope that there will be lots of new developments in the future - I remember reading that the plans for some new things in Downsview Park are already underway, and although the subway extension has been put on the back burner for a while, we are still on the subway line and the highway is nearby so the convenience is still there. It might take a few years but I'm sure there will be lots more happening around here.
 
col. forbin said:
ya that would be great. i'm taking off the friday/monday of the weekend i move in so i can pre-arrange for the monday i guess. they won't come weekends i assume
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Lucy is in charge of the M2 condo (I think). She can be reached at: 416.649.4355. She is really good and she will return your call ASAP once you leave her a voice mail. "They" are coming to install everything on the Sunday - 2 days after my official move in date, so YES they do work on weekends. Choose a day/date that works best for you and they will work around your schedule!
 
coldstudios said:
On a similar note, for those using their RRSPs I know there's a T1036 form from the government that we're supposed to fill out (http://www.cra-arc.gc.ca/E/pbg/tf/t1036/)... has anyone gone through this process yet? I assume this also doesn't need to be done until the just prior to the building getting registered...
Click to expand...

I did mine this week and cashed my cheque yesterday. An easy one page process. You have one year to use the funds for the downpayment without any reprocusions.
 
coldstudios said:
I remember reading that the plans for some new things in Downsview Park are already underway, and although the subway extension has been put on the back burner for a while, we are still on the subway line and the highway is nearby so the convenience is still there. It might take a few years but I'm sure there will be lots more happening around here.
Click to expand...

They are continuing to dig on chesswood for the subway station. Thats going strong.
 
no_joke said:
hey - been lurking on this for a while, so i thought it was time to chime in. i've purchased in M1.

GPalltheway - thanks for the pictures, really helps brace me for the situation. over all i think your unit looks relatively well put together (hardwood floors look great!), but i think the adjustment to your kitchen is rather unfortunate. Its a pretty sleazy move on Liberty's part. in your unit the kitchen design was very tight already. i hope it all works out for you, and you find it manageable.

i'd love to get some feedback on people's views regarding the location. when i bought (about 15 months ago), the location made a lot of sense, as i worked right in the area, and i could picture myself hoping on the subway to go into downtown to socialize. also, i was led to believe that the neighborhood was a hotbed of future development, as was ready to explode in value and density. in a truly unexpected circumstance, my location of employment has changed, and the sheppard/allen area is not as practical for me to live in anymore. plus, i now have mixed feelings about the safety of the location. since no other developments have been announced, it looks like the population density is not about to rise-up anytime soon. i've tested out taking the subway to downsview late at night, and i have found it to be kind of creepy, as the cars and station are basically empty at night.

i know i might just be having pre-occupancy jitters, so i would certainly love to hear from people who may have a more upbeat take on the situation.

also, does anyone have any measure on re-sale value / lease opportunities? i know we won't really know for sure until people start selling their units. my original plan was to sell in 3 - 5 years, but if i find i'm not happy in the area, i may look to lease, or sell earlier. does any one have any thoughts or knowledge in this area?
Click to expand...

What unit/floor?
 
no_joke - can understand your disappointment having your employment move away from the area. really you went from super convenient to inconvenient

but it seems like the rest of your points are just you trying to justify the way you feel.

the neighbourhood is safe, there is PLENTY of development under way and selling now, IMO would be a huge mistake.
 
From what I've seen, our condos have already appreciated at minimum $25k. It's a no brainer that the biggest ROI is where we are. The Yonge side has already reached its maximum value IMO. Any increase is simply due to market trends/inflation, which we will benefit from as well.



GPalltheway said:
Well first off I think location is great. It's a 2 minute walk to the subway and a 5 minute drive to the 401. I actually went to high school at W.L Mackenzie which is about a 5 minute walk from allen and sheppard. My girlfriend's dad and grandparents also live on Waterloo and wilson heights, which is also a 5 minute walk, so I am very familiar with the area. Population density is definately expanding quite rapidly, at least on the east side of the Allen. 6 or 7 years ago non of those new condos along sheppard were there. Now there is about 6 of them with a bunch more getting ready to be built or already being built, plus our complex. I think in terms of an investment the location has great potential to appreciate in value. Do I think when I go to sell in 5 or 6 years I'm gonna get 15 offers and sell $50K above asking like they do ot yonge and sheppard (had this happen to a friend last year)...NO but I do think there is a lot of potential.

As for the area not being safe, I think it is really safe. It's a residential area with a good high school right next door. I would agree that Downsview station at night can feel creepy, but that's just because it is the last stop on the side of the line that isn't used that much, especially at night. But that should be changing once we all move in and M3 and M4 are completed. I'm sure a lot of us will be using the subway. 4 condo's = a lot of people. Not to mention the fact that the subway is expanding north from Downsview so in 5 years (fingers crossed) when it is ready Downsview will no longer be the last stop and the trains will be more full.
Click to expand...
 
mrl14 said:
FYI, the Spadina subway extension is well under way. Ready in 2014 right now.
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That's good news - I thought it was put on hold because the government backed out on it's promise to fund a certain amount and was only commiting to a fraction of what was originally planned. I just remember hearing those "save transit city" announcements on the TTC. Good to know!
 
Hey guys, thanks for the responses. I certainly appreciate enthusiasm for the buildings and the sense of community present in this thread.

I kind of understand how you feel - especially if your location of employment has changed, I can see how you might feel it's not the best location for you anymore. But I still have hope that there will be lots of new developments in the future - I remember reading that the plans for some new things in Downsview Park are already underway, and although the subway extension has been put on the back burner for a while, we are still on the subway line and the highway is nearby so the convenience is still there. It might take a few years but I'm sure there will be lots more happening around here.
Click to expand...

Yeah, when I purchased, I felt that the area had a lot going for it, and it would certainly be ready to be a nice little condo hub in some time. Centrally located, with immediate subway access and right by the 401. Seemed like a no brainer to me. I certainly hope that once this apparent condo over-supply situation sorts itself out, more action happens in the area. That to me is the key here. I guess I thought that by now there would be more evidence of that. More projects ramping up to finish around the time the subway expansion is ready.

What unit/floor?
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Its a 1 bedroom in M1 on the top floor. Apparently they had trouble selling some of the larger penthouse suites, and split up a few to create several 1 bedroom units.

no_joke - can understand your disappointment having your employment move away from the area. really you went from super convenient to inconvenient

but it seems like the rest of your points are just you trying to justify the way you feel.

the neighbourhood is safe, there is PLENTY of development under way and selling now, IMO would be a huge mistake.
Click to expand...

Well, I don't want to give the impression that I'm not excited, because I am. I just wanted to know if anyone had the same concerns I had with respect to location. I would love to know what these other developments are you are referring to. I haven't seen or heard anything nearby. But perhaps I wasn't looking at the right spot. At any rate, I have no intention to sell before i could at least break even on the place.

From what I've seen, our condos have already appreciated at minimum $25k. It's a no brainer that the biggest ROI is where we are. The Yonge side has already reached its maximum value IMO. Any increase is simply due to market trends/inflation, which we will benefit from as well.
Click to expand...

Thats really encouraging. What is your basis for that? How long ago did you buy?

Thanks again!
 
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