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

cdr108 said:
MikeinTO has had pretty reliable information so far.
Click to expand...

Well it appears my so called 'reliable' info was out-of-date. My previous post regarding sales may have been inaccurate as I was working off memory. It appears that Emerald Park has sold over 80% of their units depending on what the rescission rate with a generally investor driven clientele has been in recent months. Sorry for any confusion or mis-representation of stats - I generally don't make a habit of posting inaccurate info. I'm rather surprised by how well this project sold at nearly $500psf/avg.
 
I wouldn't be surprised if Tridel's project wasn't far behind in sales figures.
 
I wonder what it means when the buyers receive a push back of 3 months on the condition letter?

As well, Emerald is now only taking appointments for sales and does not have the sales office open. I find this to be odd as well...

And talking to 1bloor agent, they are currently under a condition as well to build... due to sidewalk issue at bloor and yonge...

can someone explain to me in regards to "condition letters"? I understand that they can delay with condition letters twice... but what happens after that? if this does happen, then does that mean they may not build the condo?
 
Regarding the sales center ... if they are indeed at 80% sold it makes perfect sense. Why waste money on staff ...

Regarding the condition letters see the post in the beyond the sea thread for a little more info.
 
Article today in the new condo guide does in fact state that they have sold 80% of the units. Seemed like they were trying to quash fears that the project was in limbo given the economy.
 
True, in the CondoGuide article, it was actually written "this project is guaranteed to start cinstruction soon". Prices are stated as $500/sq foot.
 
^^So true. Althoug condoguide also stated it would be 32 & 41 floors. IDK how accurate this info is, but just putting that out there for thread title change consideration.
 
Condo Guide is in no way an authority. It is riddled with errors. It's focus is selling units, not providing carefully researched facts for nitpickers like us.

42
 
There is a town meeting held in regards to Emerald Park on March 2. Hope some news about future direction of this condo will come out...
 
Automation Gallery said:
Are they still trying to chop more floors off this project.
Click to expand...

I went to the town meeting the other day.
It was just a formality (first one) for community of that area to see and hear about the project and have their say.

Most were upset about the amount of traffic in that area and were concerned for more if this project completes.

The architect Roy was there to present and answer some questions along with some people from the developer side.

I asked about the financing issues along with feasibility of this project. Of course they said that they are looking into a financing institution in Europe and that the project will go on. Never said which institution though.

The issue from the city was still with the height of the project where city only have 100 m cap. City councilor expressed that he doesn't like the project and would like to see it turned down.

All in all, it just sounded like no approvals have been obtained and future of this project just seemed bleak.

With the 1st extension to purchaser ending on March 15th and if 2nd extension if exercised ending in June 15 of 2009, I am having a strong doubt that this project will be completed. It is unfortunate and remains to be seen...:(
 
thanks for the update from the community consulation meeting Ummer

Ummer said:
I asked about the financing issues along with feasibility of this project. Of course they said that they are looking into a financing institution in Europe and that the project will go on. Never said which institution though.
Click to expand...

doesn't this sound familiar ? isn't this the same thing Michael Gold (Bazis) told reporters last year as well with regards to 1 Bloor ? :rolleyes:

All in all, it just sounded like no approvals have been obtained and future of this project just seemed bleak.

With the 1st extension to purchaser ending on March 15th and if 2nd extension if exercised ending in June 15 of 2009, I am having a strong doubt that this project will be completed. It is unfortunate and remains to be seen...:(
Click to expand...

it would be unfortunate if Emearld Park doesn't go through, since it is a great design (unlike 1BE) ...

but your recent findings reliterate my initial posts on scepticism with Bazis selling before development approval applications are even submitted, not to mention final approval ... and concerns which would arise from the development approval process, whereas Bazis agent (May Sheardown) strongly disputes any approval issues ... good old trusty RE agents :p
 
Ummer said:
I asked about the financing issues along with feasibility of this project. Of course they said that they are looking into a financing institution in Europe and that the project will go on. Never said which institution though.
Click to expand...

Solaris said:
tdoesn't this sound familiar ? isn't this the same thing Michael Gold (Bazis) told reporters last year as well with regards to 1 Bloor ? :rolleyes:
Click to expand...

But why ever would they state which institution they would be looking for financing from? You just don't do that until the deal is done.

but your recent findings reliterate my initial posts on scepticism with Bazis selling before development approval applications are even submitted, not to mention final approval ... and concerns which would arise from the development approval process, whereas Bazis agent (May Sheardown) strongly disputes any approval issues ... good old trusty RE agents :p
Click to expand...

Bazis is by no means the only developer who likes to sell units that are not approved yet (and I don't think it matters where in the approvals process one is in that regard if the approvals have not been granted). I also am not sure that May Sheardown needs to be singled out here: all estate agents are hired by the developers to sell units, not to comment on what the city councillor or planners or locals think about a project. All of that is due diligence for the potential purchaser to take care of himself. By all means though, give the real estate agent a hard time when it comes to covering these issues in any discussion with them.

42
 
No way, Roy was there!?

weirdAlAmish.jpg
 
You must log in or register to post here.

Back
Top