Reunion Crossing (Diamond Kilmer) - Real Estate -

[sebajun]

Looks like they are installing a slew of Level 2 EV chargers right now in the parking garage: https://finance.yahoo.com/news/hypercharge-ev-charging-selected-toronto-133000574.html

Anyone have any idea if these will be for all residents' use, or whether you need to pay to get one installed for your specific spot?

 

[JonathonHooper]

New update posted on website:

Reunion Crossing Official Website

Reunion Crossing Official Website. At Reunion Crossing we're combining spectacular condominium residences, welcoming urban towns and dynamic convenient retail to create a whole new experience of home.

reunioncrossing.ca

 

[JenStclare]

New update posted on website:

Reunion Crossing Official Website

Reunion Crossing Official Website. At Reunion Crossing we're combining spectacular condominium residences, welcoming urban towns and dynamic convenient retail to create a whole new experience of home.

reunioncrossing.ca

I hope they can delay the occupancy to the end of next year, by then the interest rate might be much lower then now

 

[sebajun]

I hope they can delay the occupancy to the end of next year, by then the interest rate might be much lower then now

That's never going to happen 😅. Just lock in a variable rate or short-term fixed rate. Short-term pain. Still not too bad, since I think the value of what was purchased in 2019 is still higher than the current market value for similar units.

 

[mdim15]

Yeah value 2019 vs now is definitely still higher - I check sales daily and you never see 1 bedrooms going for less than 500. I’m pumped to move in so hope it happens sooner rather than later!!!

 

[idoq16]

I just can't wait to move in and start decorating. Can't wait for the pre-inspection visit!

 

[idoq16]

I hope they can delay the occupancy to the end of next year, by then the interest rate might be much lower then now

We don't have to worry about mortage and interest rate until we close. And we probably won't close until end of next year or early 2024

 

[librarian]

We don't have to worry about mortage and interest rate until we close. And we probably won't close until end of next year or early 2024

You think so?... I wish there was a way to know how long the interim occupancy will last, apparently it could be anything between two months and two years.

 

[sebajun]

You think so?... I wish there was a way to know how long the interim occupancy will last, apparently it could be anything between two months and two years.

Interim occupancy and closing can technically happen at the same time, although there is usually a few weeks or months between the two dates. I would be surprised if it takes very long in this case. I expect closing will be shortly after interim occupancy. Our interim occupancy is end of April. It looks like the townhomes/mid-rise are all getting done around the same time. All that would be left is the landscaping. Their incentive is to close as quickly as possible, and I am planning for closing to happen shortly after interim occupancy.

 

[idoq16]

Interim occupancy and closing can technically happen at the same time, although there is usually a few weeks or months between the two dates. I would be surprised if it takes very long in this case. I expect closing will be shortly after interim occupancy. Our interim occupancy is end of April. It looks like the townhomes/mid-rise are all getting done around the same time. All that would be left is the landscaping. Their incentive is to close as quickly as possible, and I am planning for closing to happen shortly after interim occupancy.

I actually planned for the opposite -- a longer interim occupancy.
Imo, the shorter the interim occupancy, the better it is for us. Because the rent payment to builder will likely have the current mortgage rates built in, so I doubt it will be any less monthly payment compared to after we close. Whereas after we close, at least we will get to pay down part of our principal (however little lol).
I did an 18-month lock on a 3-year fixed rate in case interim occupancy is longer than expected, so I don't risk scrambling for a new (and potentially higher) rate lock.
Happy to hear your thoughts.

 

[mdim15]

I got my firm closing date!

 

[sebajun]

I got my firm closing date!

Interesting! Do you mind providing details - i.e., is it your firm occupancy date or your firm closing date? If closing, when is your occupancy / when is your closing? What type of unit?

All that I have, so far, is a Final Tentative Occupancy Date.

 

[mdim15]

so my tentative occupancy was delayed to March 30 2023 earlier this year; and then last night I got a FIRM occupancy e-mail saying that they need a bit more time and pushed it to April 3rd 2023 (lol like 3 days later) - they mentioned that in the new year I'll get my e-mail to schedule my PDI - i'm on the 9th floor if that makes a difference

 

[librarian]

so my tentative occupancy was delayed to March 30 2023 earlier this year; and then last night I got a FIRM occupancy e-mail saying that they need a bit more time and pushed it to April 3rd 2023 (lol like 3 days later) - they mentioned that in the new year I'll get my e-mail to schedule my PDI - i'm on the 9th floor if that makes a difference

Thank you for sharing this! Considering that they are most likely going bottom to top, there must be dozens of people (who are not on this forum who got their dates.

 

[idoq16]

There is a handful of us who constantly monitor this thread lol. We should create a WhatsApp group and coordinate a housewarming party after we all move in lol

Edit: I created a WhatsApp group for us new owners. Please DM me if interested to join.