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Mode Lofts Condos (Cresford Developments) - Real Estate -

I went to check out some of the other developments this weekend and had no luck. Below is what i thought of the three buildings I went to see.

Windermere by the lake - is going to be ready in 2010 and therefore of no use for me.

26 SHuter - this place was a joke. The sales centre (located in an apartment building) no longer exists and all you are given from the security guard is the persons contact info. I tried giving him a call on Saturday and am still waiting for a call back.

CASA - Beautiful but Waaaay too expensive.

The thing is, I really liked the location of Mode. I would be a lot happier if they at least offered me a 20k credit toward and left it up to me to decide if i wanted to wait another 3-5 years for it to be built.

This sucks!!
 
Hi Saturn,

Glad to hear you made some nice money on your sale.

Just curious, with their PDI fixes, did they do a entire new re-tile, completely replace front doors, or cabinetry?

These certainly don't look like patch it fix jobs, it just looks done wrong.

I.E.
http://www.quadloft.com/quadpics/posted_jan04-06/Falling tiles.htm

http://www.quadloft.com/quadpics/posted_may25-06/crooked_tub_tile.htm

Anyhow, I'm sure Mode Loft buyers would be curious of your opinion and the sentiment of others in your building of Cresford through the whole process of purchase to occupancy..
 
Quad Lofts

beaconer said:
re: http://www.quadloft.com/quadpics/index_pdi.htm

Wow, that's some horrible workmanship. It looks so second rate. Especially the tiling and cabinetry work.
Click to expand...

Well, not everything is so doom and gloom over there. My friend lives there. Her unit is quite stunning, with high ceiling and good layout. She did mention the poor workmanship in the beginning (same falling tiles in the bathroom), but everything's been fixed. Except the floor, I'd say that her unit is now in good conditions.
 
After looking at those images, one has to wonder if some serious headaches were not only caused by this cancellation, but prevented as well.
 
Saturn said:
By the way casaguy I can show you examples of the kind of work excellent work you will expect on your new home.

http://www.quadloft.com/quadpics/index_pdi.htm
Click to expand...

I feel your anger, I really do. Their shoddy standards (well documented) are an embarrassment to Cresford. There are no guarantees that Cresford won't create a piece of crap with Casa. I can only hope they don't. But it's possible their horrendous reputation could be their downfall, especially if they've got lazy idiots running the company. Or, they can learn from their disasters and ensure it never happens again. Time will tell.

I've said it before, I'll say it again: IMAGE IS EVERYTHING. If there is any kind of brain power there, they know this. Their image translates to $$$.

I knew going in that I was buying something from plans and that anything could happen (they are already at least a year and a half behind). But I decided the investment was worth the risk. (A 2 bedroom corner unit near the top with an awesome view of the CN tower, the lake, downtown, 250 sq ft of wrap around balcony, 2 blocks from Yonge/Bloor subway seemed like a no-brainer. I still think it's a no-brainer.

I haven't heard of anyone who's ever bought a house or condo brand new that didn't have problems with incredibly horrible workmanship and just plain stupid decisions by the builder. Unfortunately you and your posse got screwed and it should never have happened. But it did.

I hope they settle fairly with you and if not... ABSOLUTELY SHOP YOUR STORY AROUND! Marketplace, The Fifth Estate, W-FIVE and any local news outfit would love to take on your story (especially if there is a large group of you who are organized, outspoken and have everything documented). TV stations wouldn't care if they pissed off Cresford since they're not an advertising threat to them. Yours is a "buyer beware" story that audiences love and could seriously hurt Cresford. (Although of course I don't want them to go under until AFTER I move in).

As for me, I'm well aware of the problems with this company. Now, I can only watch Casa slowly rise and hope they just complete it competently. I'm sure they know by now everyone else is watching too.

One more thing, be careful what you say on here. Don't give too much away.... I am sure they are reading these posts since this forum always comes up whenever you search "Cresford Developments". (Which is how I found this forum to begin with).
 
Good point, since this forum does come up on searches, at some point, we should list all of their projects and make sure this forum pops up on the search for everyone one of their projects. Doing this depends how they handle the current situation of course. Angry people do angry things.
 
Cresford & Mode

To all Mode Lofts Buyers,

First of all please make sure you all take legal advice from your lawyer, before signing anything.

As a realtor who has had clients purchase at Quad and Mode I can confidently say I will never sell any of my clients a Cresford project again. They have treated realtors and purchasers terribly. I've never had such a problem with a developer like this before.

The courtyard area is still not finished a year after both Quad buildings registered.

No one returns calls and no one seems to know what they are doing. If you want to re-buy with Cresford again, then go ahead.

I feel Cresford knows they can resell at a much higher price than what they sold Mode for.

As an owner and investor in the neighborhood this is the only project that has had these type of problems on King West - all other projects have been selling well and close to being on schedule.

If anyone needs any help or advice from a real estate perspective feel free to contact me. I feel so bad for buyers at Mode and this is such great neighborhood and they have lost a lot of appreciation value.

Alex Moloney
Sales Representative
THE TORONTO CONDO TEAM
www.torontocondosandlofts.ca
RE/MAX Condos Plus Corp.
C: 416.418.4910
 
Cresford developments

Hey so...

How about an SEO strategy?

I.E. If someone types key words searching for Cresford in Google, rather than the first result being their corporate website, wouldn't it be satisfying to have this thread or a page designed to inform potential customers about Cresford Developments come up first? For example, the page can have experiences like yours, or others from Quad Lofts, and other buildings and properties related to Cresford.

Or how about this page coming up first,second, third,etc,etc as well?

How Google works
----------------------

On a very high level, sites/pages that are returned at the top of a search result are:

1. Linking

Those that have a lot of websites linking to them using the key words that are used in the search engine, like this:

<a href="http://www.urbantoronto.ca/showthread.php?t=6464">Cresford Developments</a>

2. Content

Pages that have a lot of relevant and related content to the key words you are searching. (FYI, Google is smart enough to know the difference between non-sense key word stuffing and content, so writing Cresford developments 1000 times on a page can actually bring your result down).


Using the Google toolbar application, you can see the six most popular key word combinations used to search for Cresford are:

1. Cresford developments
2. Cresford development
3. Cresford Toronto
4. Cresford developments Toronto
5. Cresford builders
6. Cresford properties

Right now, not this thread but another on Urban Toronto:

http://www.urbantoronto.ca/showthread.php?t=2559

Appears as the #8 result for a search for "Cresford developments". With very little co-ordinated help of getting sites to link here with the above key word combinations, it would be easy for it to be #1, surpassing the Cresford developments corporate website, which I think would be a great public service.

Anyhow, just an idea. Perhaps this thread can be renamed to help in those efforts ( I would suggest "Cresford developments Toronto -Mode Lofts properties" as a good title for search engines), and perhaps this thread and Urban Toronto can prevent a lot of future purchasers of Cresford developments from going through what you are going through now.

FYI, you'll notice in this post I put a lot of the key words in contextual sentences So perhaps it will get kicked up the search result ladder.

There seems to be a little bit of ground swell, so best of luck, and I hope you guys achieve your goals.
 
The fun doesn't end. I did manage to get through to Jerry Cino at one point on Sunday, to see if this credit could be applied to the Shuter site, since there are some units being sold by the builder available in there. First response was that it only applies to Caca and Nxt - but that he would look into it and call me back Monday. I'm still waiting. I've left him a few follow up messages, and no response. I'm starting to think that offer of a credit was just a PR stunt and they don't really plan to honor it - but it looks good in the letter.

I did talk to my lawyer. He said they had until Nov 1 to pull out of the project using that clause they put down as the reason. Even by their own admission, they've known this was blowing in the wind since at least April. Guess they had fun with our money. That interest rate they gave us was pitifully low compared to even a standard savings account. So nada we can do on that front from the sound of it. Best option may be just to warn anyone we can off of Cresford by detailing our experiences.
 
Mode buyers..

I'm not a realtor or anything, but I would never put my money on another Cresford project given it's reputation. I realized the loss of appreciation affected everyone but if you'd invest in another Cresford disaster, you'd never have a place till 2015.
I bought into Boutique Condo (corner of Nelson and Simcoe), just 1 street West of University Ave. The prices are pretty decent. It's a 2 building, phase 1 (16 floor) and phase 2 (18 floor). Construction started a few months ago (digging away). They also applied to increase phase 2 level to 35 floors and recently just been approved (just this week). They're going to begin marketing the increased floors any day now. I bought into a 2 bedroom on the 7th floor on Phase 1, was only $299.900 with parking 1-1/2 years ago.
Don't know about the price now, worth a look I think considering it's one small block west of Shangri-La

Fool me once, shame on you, fool me twice..
 
As a non-condo buyer I am curious: why exactly do you folks want a $300,000+ condo? While it sure is fun watching new attractive buildings go up around the city, I'm puzzled how any of these buildings are perceived to be good value and why young people are buying them. Is it because they want to be just like their friends?

As a condo observer: those Quad photos weren't that bad. I mean seriously folks, several were questionable but most were easily fixable. If you knew the serious lack of quality labourers in this town you'd possibly understand why they'd let stuff like that pass. As well, Quad began selling years ago--2001?--the start of the boom; it was really Cresford's first downtown "loft" project so mistakes were inevitable. But then I'm used to living in rundown 200 year old homes....and love them for their flaws!

Ok, answer some of my questions and I won't trouble you much in your lottery ticket to domestic bliss....
 
urbandreamer said:
As a non-condo buyer I am curious: why exactly do you folks want a $300,000+ condo? While it sure is fun watching new attractive buildings go up around the city, I'm puzzled how any of these buildings are perceived to be good value and why young people are buying them. Is it because they want to be just like their friends?
Click to expand...

Maybe because some people want to own what they live in. They might not be interested in handing over their money to a "landlord." Regardless, they can do with their money what they wish - regardless of what other people think is best.

What's with the borderline loftier-than-thou approach to this topic? If you want to mock people, come out and mock. Just be prepared to get back what you are wanting to give out.
 
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