Toronto M2M Condos | 129.9m | 40s | Aoyuan | Wallman Architects

Anyone who has purchased M2M Phase 2, please get in touch with me.

We can share the latest news about the development (or the lack of it) and can pull resources together to get legal assistance.
 
hihihihihi said:
Anyone who has purchased M2M Phase 2, please get in touch with me.

We can share the latest news about the development (or the lack of it) and can pull resources together to get legal assistance.
Click to expand...
What communication has there been from the developer? Has phase 2 been cancelled?
 
I had purchased a unit in Phase 2. I received a docusign today from M2M with title "mutual release and termination agreement".
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
Also on the third paragraph it says "And whereas for various reasons the Purchasers have requested to terminal the Purchase Agreement and the Vendor has agreed to such request...." I never made such a request! Anyone knows what's going on?
 
I am curious now that builder had bankrupt and abandoned the proejct, what is happening to the Park, Library and other communal space that was promised when project was sold.
Is anyone responsible for these?
 
dsyoo21 said:
I am curious now that builder had bankrupt and abandoned the proejct, what is happening to the Park, Library and other communal space that was promised when project was sold.
Is anyone responsible for these?
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It doesn't look like the builder bankrupt the project, but it does look like they sold the land and phase 2/3 was subsequently cancelled (judging by an earlier post). As I understand it, everything such as parks, community centres, libraries, parks, etc. are tied to the site plan approvals with the City. So if the new developer goes back to the city with a new site plan (or even ZBA) then they could renegotiate basically everything. The City is under no obligation to approve anything without those previous commitments (like the community centre and the park), but the new owner can definitely try to get those removed. I wouldn't count on seeing that park or community centre materialize for at least another decade though.
 
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Anyone who has moved in M2M condos phase 1, has experienced water leak issues and the condo has failed to fix the issue appropriately and treated it as a cosmetic damage when it is a bigger issue than that, please reach out to me. I’d like to make a note of the homeowners they are bullshitting so I can take this up to the public, including the media.
I am fed with this builder downplaying any issues with the unit and it’s been a shitshow since we moved in.

Would love to see who else might be experiencing the same issue and the builder did nothing but put a bandaid solution to the problem. Your input is appreciated.
 
Wukong said:
I had purchased a unit in Phase 2. I received a docusign today from M2M with title "mutual release and termination agreement".
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
Also on the third paragraph it says "And whereas for various reasons the Purchasers have requested to terminal the Purchase Agreement and the Vendor has agreed to such request...." I never made such a request! Anyone knows what's going on?
Click to expand...
Did you end up getting the deposits back?
 
Wukong said:
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
Click to expand...

I can't speak to a fee of that size but a portion of it is a non-refundable piece paid to Tarion for deposit protection/insurance.
 
IMO121 said:
Anyone who has moved in M2M condos phase 1, has experienced water leak issues and the condo has failed to fix the issue appropriately and treated it as a cosmetic damage when it is a bigger issue than that, please reach out to me. I’d like to make a note of the homeowners they are bullshitting so I can take this up to the public, including the media.
I am fed with this builder downplaying any issues with the unit and it’s been a shitshow since we moved in.

Would love to see who else might be experiencing the same issue and the builder did nothing but put a bandaid solution to the problem. Your input is appreciated.
Click to expand...
I think the problem in this case is that the builder/developer went bankrupt. Who would be responsible for structural deficiencies if this was the case?
 
moofur said:
I think the problem in this case is that the builder/developer went bankrupt. Who would be responsible for structural deficiencies if this was the case?
Click to expand...

According to the Aoyuan M2M to Winnet sales contract,.. Winnet is now responsible.
 
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