[Burnaby] The Amazing Brentwood | 15 Towers | 186m | 56 flrs | U/C & Proposed - Page 225

rofina · #**4481** Posted **Jan 7, 2020, 10:47 PM**

Quote:

Originally Posted by wh0-care5

my cousin told me that the contractors put a lien on the Starbucks so they can't open.

A lien wouldn't prevent them from opening anyway.

VarBreStr18 · #**4482** Posted **Jan 8, 2020, 2:23 AM**

Quote:

Originally Posted by dgipson

Anyone have any more recent information on the occupancy of Tower 2? I am assuming Tower 1 occupancy is resolved since I've seen lights on in some suites...now the focus should be on finalizing Tower 2 right?

Our most recent amendment said occupancy between Dec 31, 2019 and Sept 30, 2020 (a huge long window). Obviously not expecting occupancy on Jan 1 but looking for a rough estimate to get a rate hold for the mortage rate (only valid for up to 90 days prior to getting the mortgage).

Never mind about occupancy .... I'd like to know if T2 has even started any walk through viewing yet?

cairnstone · #**4483** Posted **Jan 8, 2020, 3:45 PM**

Quote:

Originally Posted by rofina

A lien wouldn't prevent them from opening anyway.

Will delay if schedules are not signed off and engineers are waiting for there draw. As liens typically stop all payouts. But the lien is starbucks would only be attached to the cru

MetroYVR · #**4484** Posted **Jan 9, 2020, 12:48 AM**

Basil Box needs to be open asap

burnaby91 · #**4485** Posted **Jan 9, 2020, 8:20 AM**

Quote:

Originally Posted by dgipson

Anyone have any more recent information on the occupancy of Tower 2? I am assuming Tower 1 occupancy is resolved since I've seen lights on in some suites...now the focus should be on finalizing Tower 2 right?

Our most recent amendment said occupancy between Dec 31, 2019 and Sept 30, 2020 (a huge long window). Obviously not expecting occupancy on Jan 1 but looking for a rough estimate to get a rate hold for the mortage rate (only valid for up to 90 days prior to getting the mortgage).

A few banks will give you 120 days (CIBC for instance), and if it finishes close after the 120 days they can push it, maybe for another month or so, at least thats what I was told. Find a good mortgage advisor

rofina · #**4486** Posted **Jan 9, 2020, 4:37 PM**

Quote:

Originally Posted by cairnstone

Will delay if schedules are not signed off and engineers are waiting for there draw. As liens typically stop all payouts. But the lien is starbucks would only be attached to the cru

Correct, it would affect occupancy if it got a lien that early. And yes, the push would come from the landlord as its address based.

If someone actually has a lien on a Starbucks build they will regret it tenfold, whatever funds they hope to recover Starbucks will waste in litigation for the next 5 years. The lien process is not an effective method of fund recovery, particularity when dealing with deep pocket US based tenants.

cairnstone · #**4487** Posted **Jan 9, 2020, 5:18 PM**

Quote:

Originally Posted by rofina

Correct, it would affect occupancy if it got a lien that early. And yes, the push would come from the landlord as its address based.

If someone actually has a lien on a Starbucks build they will regret it tenfold, whatever funds they hope to recover Starbucks will waste in litigation for the next 5 years. The lien process is not an effective method of fund recovery, particularity when dealing with deep pocket US based tenants.

Chances are Starbucks has nothing to do with the lien. More likely it would come from a subtrade to the GC/PM firm. If it is a base build lien from a CP that would definitely stop OP. Liens are a part of life in construction and there is no control over it. You can be transparent to everyone and have a plan and a day later you receive a notice of lien. So draws are delayed until the lien is removed. Every job its the same

MetroYVR · #**4488** Posted **Jan 9, 2020, 8:00 PM**

Tower 2's walkthrough can take up to twice longer than Tower 1's

jamieson · #**4489** Posted **Jan 10, 2020, 4:00 AM**

Quote:

Originally Posted by MetroYVR

Tower 2's walkthrough can take up to twice longer than Tower 1's

Why's that?

VarBreStr18 · #**4490** Posted **Jan 10, 2020, 6:41 AM**

Quote:

Originally Posted by jamieson

Why's that?

That is easy to figure out. They have twice the strata units as T1. If they walk through 5 units per day, 500 units will take 100 working days. Even if they start today will take 4 to 5 months. Not surprising that they push the date back to May..... and then the occupation permit issue pops up. Dont think we are ever going to move in 2020.

GeeCee · #**4491** Posted **Jan 10, 2020, 11:24 AM**

I heard that for T2 they're only going to be doing 3 walkthroughs a day.

cairnstone · #**4492** Posted **Jan 10, 2020, 4:03 PM**

All the wonderful things that people are starting to realize. Where as in the rental they do 5 minutes per unit as the owner cares less and wants the rental income. And they take care of the issues after renters move in. Whereas owner occupied units are held to a much higher standard. But they should have staff to do 20 or 30 a day not 3

Tangeray · #**4493** Posted **Jan 10, 2020, 4:06 PM**

Quote:

Originally Posted by GeeCee

I heard that for T2 they're only going to be doing 3 walkthroughs a day.

That would take ridiculously long to get through ~500 units...

don't walkthroughs usually only take about half an hour each?

domusile · #**4494** Posted **Jan 10, 2020, 5:32 PM**

Not sure if Burnaby does this but in North Van we had a staged occupancy where the lower floors closed on their units and took possession about a month before our floor. People were moving in when we did our walk through.

Meraki · #**4495** Posted **Jan 11, 2020, 8:34 AM**

.

Meraki · #**4496** Posted **Jan 11, 2020, 8:38 AM**

Quote:

Originally Posted by Tangeray

That would take ridiculously long to get through ~500 units...

don't walkthroughs usually only take about half an hour each?

My rental walkthrough was about 20 minutes, scheduled for 30 to include key pick up, etc.

Meraki · #**4497** Posted **Jan 15, 2020, 11:15 PM**

Interesting, the glass has a ledge every 5 floors, catching snow.

Klazu · #**4498** Posted **Jan 15, 2020, 11:45 PM**

I was walking in the area last week and man it felt weird to be inside this huge new complex. The fountain looks great in person and will be highlight of the front yard. I was surprised how far apart the first two towers actually are and they don't feel that tall from below. Otherwise the area feels nicely enclosed and will feel even more so once more towers will go up.

Skybridge connecting to the SkyTrain station is very narrow, as expected, and for no good reason. There would have been plenty of space on the station's side to make it double as wide. Thinking how crowded Metrotown's skybridge used to be, this is going to a nightmare. On the same note, I noticed that Translink will actually have it quite easy to add more fare gates to the station by just moving the ticketing machines more to the side. I hope that will happen soon as 3 gates is ridiculous.

I was also wondering about customer parking and whether that will be free or paid? It looked like it is currently paid parking and I hope that won't be the case, as it will scare a lot of customer away.

Meraki · #**4499** Posted **Jan 16, 2020, 12:09 AM**

It's paid, but only $1. Which feels kinda meaningless in the scheme of things. Just make it free at that rate.

Unless it's going up as more stuff opens.

rofina · #**4500** Posted **Jan 16, 2020, 5:19 PM**

Quote:

Originally Posted by Meraki

It's paid, but only $1. Which feels kinda meaningless in the scheme of things. Just make it free at that rate.

Unless it's going up as more stuff opens.

Is it though? 1000 cars a day averaged over the year, that's a $365,000 pays the salaries of the 3 or 4 operations staff.