jmacmillan
Active Member
They mentioned something about a phase 2, on the site of the sales ctr.
Watch for the sales centre to move across the street to one of the X townhouses.
Watch for the sales centre to move across the street to one of the X townhouses.
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cdr108
Senior Member
My feeling is that phase 2 won't come to fruition until the next RE cycle and hopefully get larger suites and better layouts.
Mike in TO
Senior Member
Phase two won't be launched anytime soon - there is still plenty of inventory in X.
kennyx
Active Member
what's considered 'plenty'? Last I heard from the sales office (and I trust them as much as I trust lawyers), is that they're already at the 85% sold out mark.
cdr108
Senior Member
That's at least 60 units if we assume an average of 10 units/fl x 43 s (excluding one level for lobby and amenities).
As MikeinTO noted first and also confirmed in newspaper articles, there are almost 20,000 units unsold in the GTA based on projects on the market, and optimistic projections for 2009 are 8,000 unit sales for new construction.
That's 2.5 years supply assuming nothing else comes out for sale - that's plenty no matter how you look at it.
As a comparison, US RE news release today indicate new home inventory of 11.2 month supply and their prices are still dropping.
http://www.marketwatch.com/news/sto...x?guid={3FE9C20E-CE32-4608-B78C-F1646BDD7942}
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Mike in TO
Senior Member
Guys I don't think many here realize just how slow things have gotten the last couple of months. The sales absorbsion rates for older projects (i.e. projects that haven't just been launched in the past couple of months) is shocking. Unless there is a dramatic turnaround next quarter we may not see the next phase of this project until late 2009 or 2010… X is about 90% sold.
Solaris
Senior Member
all things aside kennyx ... putting yourself out there and taking sales office staff's words for full value may not be the brightest idea ~ always confirm with other sources (where available)
jks
Continuous Lurker
I believe that's why he said
"I trust them as much as I trust lawyers",
and lawyers can never be trusted so yeah...
Solaris
Senior Member
I'm reading kennyx's msg exactly the opposite ... I believe he's a X purchaser and honestly has faith in the sales people ~ (don't think he's being sarcastic)
jks
Continuous Lurker
lol, well to each his own. In any case, i heard 70% to 80% sold from pretty much every single project in this city, so i highly doubt there's much truth to it.
kennyx
Active Member
while yes I am a purchaser, -the statement about the lawyers was meant that I dont trust the sales staff (just as jks stated)
dt_toronto_geek
Superstar
Dec 28 Update
X facing west
X facing south
X facing west
X facing south
ladyscraper
man alive
Thank you for these pics. I'm watching this one closely because the render shows a lot of promise but I'm worried that the actual building will struggle to live up to it like so many in the past. Gonna stay optimistic though!
simuls
Senior Member
All it would take for that 20 000 number to come down (and it drastically needs to) is for several large projects to be cancelled, put those buyers back into the market (assuming only 50% of those would want to purchase at this time) and the inventory could very quickly be cut in half. That would be a best case scenario for Toronto I think.