Toronto Emerald Park Condos | 128.92m | 40s | Bazis | Rosario Varacalli

constructo said:
TORONTO STAR ARTICLE ON POYNTZ TUNNEL:

By MEGAN DOLSKI Staff Reporter
Thu., Jan. 12, 2017 Years after it closed for construction, the tunnel entrance to the Yonge-Sheppard subway station facing Poyntz Ave. still hasn’t reopened.

Belovich said the work was done by “TTC approved” contractors and is complete, but under inspection by the city and the TTC for safety purposes. In an email sent last week, she said the tunnel is slated to open in February of this year.
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https://www.thestar.com/news/gta/20...trance-remains-closed-as-delays-continue.html

NOooooo,.....

Mint said:
And it's officially scheduled to open in FEBRUARY now? My god.
Guess sunnyray won.
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NOooooo,.....

NOooooo,..... When Bazis is in agreement with my February 2017 delivery date,.... That means I'm going to lose!!! NOooooo,.....

NOooooo,..... I've been monitoring Bazis EmeraldPark project prior to Bazis marketing/selling and development application on EmeraldPark,... and I know that once Bazis promise a delivery date on anything,.... Bazis will miss that delivery date by a mile!!! My sweet valentine February 2017 delivery date prediction has now been cursed! NOooooo,.....

NOooooo,..... How can all my analysis, observations and calculations be soooo wrong,...... NOooooo,..... I can't be in agreement with Bazis,.... NOooooo,..... Worlds are colliding,.... NOooooo,..... Oh, the humanities,......
 
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Automation Gallery said:
Lol:D, what are you smoking
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I'm not a drug-user. Only a drug-user would be delusional enough to believe everything Bazis says and constantly defend Bazis like,.... oh,.... hmmmm,....

AutomationGallery, in case if you haven't noticed,... it's really not a good idea to disappoint me and my neighbours,... unless you want a TorontoStar news article exposing your incompetence!
https://www.thestar.com/news/gta/20...trance-remains-closed-as-delays-continue.html

Hopefully, that Toronto Star article will finally knock some sense into Bazis,.... and get Bazis committed to delivering a higher quality built product on time as promised,... so that their other projects now under various stage of construction will turn out better. The architectural design of Bazis' towers by architect Roy Varacalli are amongst the best in not just Toronto but NorthAmerica, like:
- peeling flair top EmeraldPark dual towers (built with partner Metropia & Plaza)
- messily stacked white cubes of Exhibit (built with partner Metropia & Plaza) - almost complete
- black towers with protruding red amenity floors and pool in the sky for E-condo (built with partner Metropia & RioCan) - above ground construction stage
- aluminum twisting fin exterior of 1 Yorkville (built with partner Plaza) - foundation stage, etc,....
But Bazis' poor business practice of consistently cutting so many corners, using cheaper poor quality material, screwing over their own customer, contractors, city staff, etc,.... results in a poor quality built product that doesn't do justice to their architectural design.

Look at EmeraldPark, one of the first interaction anyone have with EmeraldPark is the doors,.... for most of the last 2 months, 3 out of the 5 EmeraldPark mall doors are half blocked with plywood covers or large pylons,.... it's simple to fix to replace the doors, it's not rocket-science,... just do it. It should never get to the stage where doors are blocked off creating fire hazards that put people's lives at risk. And they're still not fixed!
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-146#post-1177609
 
I would also like to add that the Toasty is suing the developer for damages to their unit.

Its been a few weeks since the flood in my retail unit and the wall paint under the sign is still not fixed. Not only is the developer incompetent but also the management. The maintenance crews are fine hard working people but the management is incompetent and a waste of money. It is a mystery what they do in their offices all day. Every single email has them replying earliest 2 hours later. Usually what they will do is reply your email at 5:55PM or 5 minutes before they go home then make you wait until the next day or god knows when to receive a reply. They used to have 1 set of managers (Tanisha & Vesna) for the entire building commercial and residential. Now they have hired a "welcome coordinator" named Bonnie to manage the commercial spaces. Now Bonnie, for some reason, only works on Tuesdays and Thursdays so if you send her an email on Friday you will receive a reply earliest Tuesday. Even if you send one on the day she's working she will either ignore you or reply hours later. This I believe is the main reason repairs take so long to make in this building. It's week 3 and my wall is still not fixed. They apparently have sent an "insurance adjuster" to my unit and he says everything is fine which is questionable because there is obvious damage to my wall. Just yesterday Bonnie says there is nothing further to be done on the issue. You pay maintenance (of which insurance is part of) every month for stuff like this and such a simple task such as just sanding the wall and repainting it is too much for the insurance to cover...Just exactly what am I paying for here? I have absolutely no confidence anymore in management and will look towards legal action like the Toasty unit. Something like this no matter how minor cannot just be swept under the rug, it is essentially theft.

Anyways the Allwyn's is now the Anchor Tenant. They have almost single handedly doubled the malls traffic. There was a huge lineup today for it during the lunch rush. The food is very cheap and delicious, perfect for the struggling Canadian economy. I tried the Jerk Pork yesterday, it was ok I've had better but they are most known for their Jerk Chicken (#1 in Toronto) so I will try that today.

The subway tunnel they will just delay and delay and delay like they've always done. There's nothing "Final" to any final date they announce and it would be foolish to trust them on these terms. They've misled us time and time again. Just today I realize they've been charging us HST on the estimated property tax on the phantom rent we paid for a year. They are not supposed to be doing this and have probably pocketed the 13% which is around 1-2K per unit. Multiply that by 75 retail units plus 60 office units you have them stealing at least 135k worth of bogus HST of which they have still not informed us about. There is not a day that goes by that I am not surprised at how low a level people in real estate will swoop to to make a fast buck.
 
Bill123 said:
Just today I realize they've been charging us HST on the estimated property tax on the phantom rent we paid for a year. They are not supposed to be doing this and have probably pocketed the 13% which is around 1-2K per unit.
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That's not actually true. HST does apply to commercial rentals, and if property taxes are charged separately then they still have to pay HST. See page 8 in this link.

"Property and business taxes paid by the property owner to the municipality are generally not subject to GST/HST. The property owner includes an amount that represents a recovery of such taxes from the lessee either as part of the basic rent or as an additional rent in the lease agreement. Where a separate amount is paid by a lessee on account of property and business taxes, this amount is part of the consideration for the rental of the property, even if the lessee pays the amount directly to the municipality. Since the lessee’s payment is part of the consideration for a taxable supply, it is subject to GST/HST in the same way as the basic rent payable by the lessee. However, if the lessee is directly liable to the municipality or other entity for the payment of any such amount the GST/HST will not apply."
 
I wonder if anyone from Bazis reads this thread. I mean, it's easily findable on Google and any future partner or investor must be smart enough to at least do an online search on past projects before signing up with these guys. Maybe Bazis really doesn't care at all about their reputation.

And yes, management here is completely useless... the few times I've had to contact them also required multiple days in between emails with the end result being essentially a non-answer.
 
The story was also picked up by Metro. I am also told (unconfirmed) it was on 680 News.

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@khristopher how so?

When I see businesses like Allwyns or Timmies expanding that is an indicator to me that the economy is struggling. Like it or not but struggling Canadian economies outside of Ontario also affect us by dragging the loonie down and making everything more expensive to import. Canada doesn't make much aside from houses. The things we do export like softwood/crude/cars are usually subsidized by the government or given to the Americans at a huge discount. Grocery stores here are downgrading on quality, raising prices and are driven crazy by the loonies volatility. Saks and its parent HBC are struggling to sell their high end goods and have resorted to massive discounts.

It's only going to get worse with Trudeau planning on raising taxes on small businesses, not only are your imported goods more expensive from a low dollar but also small business owners like doctors, shopkeepers, lawyers and accountants will have to price in these tax increases or stock lower quality goods. Add in that NAFTA might be scrapped and Trudeau being a horrible negotiator then the loonie will get even lower. If Trump does lower American corporate tax rates and implement a border tax on Canadian goods then companies here will start flocking to the states which means even fewer jobs here.

Growth in the Canadian economy is seen only in the FIRE industries which is not healthy. A downturn in real estate could really devastate the economy. Royal Lepage forecasts double digit decline in Vancouver home prices. Hundreds of brand new condo units in Alberta are empty and RBC forecasts Ontario real estate to also slow down.
 
Bill123 said:
Canada doesn't make much aside from houses.
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What's that based on? Residential building construction is only 2.5% of GDP, and real estate services (including rental housing) is 12.5%. That means that 85% of the economy isn't houses.

Bill123 said:
Growth in the Canadian economy is seen only in the FIRE industries which is not healthy. A downturn in real estate could really devastate the economy. Royal Lepage forecasts double digit decline in Vancouver home prices. Hundreds of brand new condo units in Alberta are empty and RBC forecasts Ontario real estate to also slow down.
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There are actually only five sectors of the economy that aren't growing year-over-year - construction, manufacturing, management, "administrative and support, waste management and remediation services" and "other services", which combined are less than a quarter of GDP. Real Estate has a lot of growth, but not much more than the Canadian economy as a whole, and several other sectors are growing nearly as fast or faster. Transportation, finance, education, arts & recreation, hospitality, retail and resource extraction are all growing at 2.2% or more (Oct. 2015 - Oct. 2016)

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gdps04a-eng.htm
 
Bill123 said:
@khristopher how so?

When I see businesses like Allwyns or Timmies expanding that is an indicator to me that the economy is struggling.
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That speaks more about our spending habits than it does our economy. Canadians are not big spenders. Hence places like Winners being popular. It's always been this way. A struggling economy would not see any new businesses or expansions, but rather closures.

And none of this has to do with the development of Emerald Park. So can we move on?
 
When I say Canada does not make much aside from houses I mean it in terms of manufacturing.

I find it hard to believe that construction is lagging. Many of the new construction jobs are in independent contracting which is cash intensive, earnings are under-reported and hard to track the scale of. Other industries may be growing but at a lackluster pace even before you factor in inflation.

@khristopher how else do you expect me to answer your "huh?" If Canadians are not big spenders then why is household debt at all time highs? Don't you think that with lower purchasing power from large and or increasing monthly debt obligations Canadians will instead spend their money at cheaper institutions?
 
Bill123 said:
When I say Canada does not make much aside from houses I mean it in terms of manufacturing.
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Even then, residential housing construction is less than one tenth of Canada's goods-producing industry. $43 billion of $490 billion ($171 billion of which is non-construction manufacturing)
 
Housing construction, I would wager, is responsible for more than 2.5% of GDP. You have the customer buying the new house which goes into that 2.5% but also know that there is usually a mortgage attached to it or a HELOC which 22% of households have. The money from the HELOC goes into paying off short term debt like CC bills, down payments and into consumption. There is also commission from the sale that goes towards a RE brokerage. Then you have to have insurance on the home which means more GDP goes into the Finance industry. You also had all those permits and inspections you have to do and take out during construction contributing to the public administration GDP. Then you have renovations which contribute to the retail and wholesale industry. I would say that if all these things on the "housing web" were added together housing would be responsible for at least 20% of GDP and that's on the low side of some estimates (some as high as 35%).
 
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