Toronto 300 Front Street West | 156.05m | 49s | Tridel | Wallman Architects

whatever said:
Cool. That's kind of nice to see a question get answered that quickly. Usually an off-handed reference to a structural steel frame could lead to 20 pages of bickering. Too bad we don't have more developers with a presence here
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That reminded me of Casa
 
300 Front Street Maintenance Fees

AKS said:
Is that really true? o_O 35 cents psf maintenance? The estimate seems really low.
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The maintenance fees shown are for dwelling only for now. When construction nears completion total maintenance will be shown (usually adds a couple of cents). Energy rates on occupancy will be one of many factors to determine final maintenance fee. Check the condo act for the builder's responsibilities when quoting maintenance fees preconstruction and the amount they can be raised by. We are constantly calculating this fee to make sure it is as accurate as possible. Also, adding parking spaces and lockers can increase the fee as well.

One reason for the lower fees in Tridel buildings is Tridel's commitment to building to LEED standards for better energy efficiency and the large scale of our projects. Generally 40% of the maintenance fee is for the building's energy requirements (heating, ventilating, cooling and lighting common areas and the garage etc.). So any savings in energy can significantly lower your maintenance fees. If there is a savings of 10 cents/ft2, the savings amounts to $720 a year on 600 sq ft condo. Quite a savings that can be applied to mortgage principal :).

Anyone with questions or interest can visit a Presentation Centre. Our sales reps are quite knowledgeable and would be happy to answer all questions.
 
I just thought it's odd. Ice is showing 50 cents psf and it's LEED and facilities are shared between 2 tall towers. But 300 Front is showing 35 cents psf and one tower. The difference seems wide.
 
AKS said:
I just thought it's odd. Ice is showing 50 cents psf and it's LEED and facilities are shared between 2 tall towers. But 300 Front is showing 35 cents psf and one tower. The difference seems wide.
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does ICE have separately metered hydro, heating, and air conditioning as well? I believe new Tridel condo meter EVERYTHING seperately, which helps individual owners to control their own costs (as opposed to central AC/heating, where there is a lot of wasted energy consumption ... and that jacks up maintenace fees :))
 
Solaris said:
does ICE have separately metered hydro, heating, and air conditioning as well? I believe new Tridel condo meter EVERYTHING seperately, which helps individual owners to control their own costs (as opposed to central AC/heating, where there is a lot of wasted energy consumption ... and that jacks up maintenace fees :))
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Well, I think all new condos have separate hydro bills. Hydro would include anything electric or heating. Heating, A/C, hot water, dishwasher, washer and dryer. Water usage is shared. I think all new buildings have a temperature controller for heater and A/C as well. Even in buildings built from a few years ago have that. By sometime 2010, the by-law requires all buildings to be separately metered.
 
That's not true ... by mid-2010 the provincial legislation only requires that electricity (hydro) be separted for all condos/apartments ... there's no legislation that REQUIRES separate heating + cooling + water, in which the first 2 items account for a big portion of condo fees due to wasteful usage

even in today's new condos being marketed, I often see separated hydro only... but central heat + A/C (even though A/C uses electricity) ... exception applies to condos by Tridel, Minto, Menkes (the 'green' builders :))
 
Well, in the condo I lived at in scarborough, there was a heat and a/c control ensuite. So owners can control their usage. The a/c and heating was part of the maintenance fee as well as hydro. Then they installed the meters. I'm not sure if after installation of the meter if they a/c and heating is within the hydro bill or not. After moving downtown. WestOne has ensuite a/c and heating control as well. Hydro was already separately metered. I thought the ensuite a/c and heating control is included in the hydro bill?

One example, my sister's unit was sitting empty, listed for sale. Hardly any electricity was used so the bill was low. No A/C, no heating, no light etc. Only the fridge and stove plugged in. The usage was low. The hydro billed up to one day after the new owners moved in. Within one day, the electricity usage spiked it seems comparing the monthly usage. So I assume they must be blasting their A/C on high.

Regarding Ice, their booklet says "individually controlled heat pump and heating and cooling system" I assume the heating and cooling is included in the hydro bill?

BTW, there's central heating and a/c in common areas. That's given. I think they do control when the heating and a/c gets turned on. If the main switch isn't turned on, even if you turn a/c or heating in your suite, it won't turn on.
 
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AKS said:
Is that really true? o_O 35 cents psf maintenance? The estimate seems really low.
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The developer sets maintenance fees until the condo corporation takes over, and they're only a rough estimate. The condo corporation will undoubtedly raise the fees significantly as soon as possible once they complete their audits and assess the cost of running and maintaining the building and building a reserve fund.

I think the developer's advertised PSF maintenance fee is irrelevant unless you plan to live there and move out before the building registers because they are usually unrealistically low.
 
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grey said:
I think the developer's advertised PSF maintenance fee is irrelevant unless you plan to live there and move out before the building registers because they are usually unrealistically low.
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Tridel actually has a very good reputation of being very realistic in their estimates (they are much better than most other developers at keeping the fees in check as advertised).
 
Condo Act

Developers are governed by the Condo Act by how much they can raise fees prior to occupancy. They can only do so within a narrow range without paying penalties. That is why we constantly monitor costs and try to be as accurate as possible.
 
Tridelwebmaster said:
Developers are governed by the Condo Act by how much they can raise fees prior to occupancy. They can only do so within a narrow range without paying penalties. That is why we constantly monitor costs and try to be as accurate as possible.
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The add to those comments - IIRC if overall common expenses outlined in the first year budget increase by more than 10% prior to occupancy, it is considered a "material change" as defined in sec 74(2) of the condo act - consumers are entitled to unilaterally rescind or terminate the transaction. This is going to be a big issue next year as once HST kicks in - condo fees are going to go up by 8%, leaving developers virtually no wiggle room to keep under that limit - this could potentially result in a large number of consumers walking away from their deals.
 
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