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

[EddieVH]

[QUOTE=Kevindemi;8735733]

Originally Posted by cairnstone

Every City has different steps. Vancouver is a charter city so they have a different code that has to be followed. Every city has a different procedure. And yes Shape should be more transparent but individual owners you have no weight. As you technically don't own anything but the right to purchase when finished. And your contract can be cancelled.

What baffles me is that if the delay in getting a permit is because things are not to standard how come renters were allowed to just move in right away? City Hall doesnt care about safety standards for them???? That.s what makes me think the occupancy permit and safety excuse is masking some other problem.

Usually when you get verbal permit, the official one is not far behind. I’m wondering if there are any builders liens on the development. That would hold things up big time. Also remember they had some legal dispute with Rennie. Has that been resolved yet?

[Spr0ckets]

Originally Posted by VarBreStr18

The decision to sell my house is far from rash. Turns out it was a very sound decision. I was able to sell my house in less than 10 days and at full asking price .... take a look at today's market !!! But I honestly did not anticipate TAB to be so ridiculously late. I was prepared to pay a year rent waiting for TAB. But 2+ years and no end in sight?

No, I didn't mean the decision to sell your house.

I meant the decision to sell with the expectation that you would be able to move in within a year given what state this project was in back in 2017.
They were nowhere close to being complete back then.
Much less so a year out from being complete.

I don't mean to minimize or make light of your circumstance, but that was frankly speaking, wishful thinking.

They were never likely to complete the towers for move-in or occupancy before the retail podium and plaza were mostly complete, and even just taking a look at the photos on this very thread from 2017 of the state of the podium should have been a clue that a year was just being inadvisably hopeful (or hopelessly naive, depending on your perspective)

This is what the podium looked like in December of 2017:-





I mean.....

[MetroYVR]

RDH - Case Study
https://www.rdh.com/our-case-studies/the...m_source=linkedin&hss_channel=lcp-871113

[Tangeray]

Here's another from a diff perspective, pulled off of a realtor.ca listing.

Link: https://www.realtor.ca/real-estate/21288575/2-bedroom-condo-2403-4400-buchanan-street-burnaby

[Meraki]

Originally Posted by MetroYVR

Meraki, are all of the private amenities ready for residents to use? Why don't you share some pictures to us
https://theamazingbrentwood.com/rental/features-and-amenities

Amenities open somewhere between November 5 and 8.

[SpongeG]

daily hive reports Sporting Life opens next week

[NewfBC]

Originally Posted by SpongeG

daily hive reports Sporting Life opens next week

It was reported right here last week!
https://forum.skyscraperpage.com/showpost.php?p=8734156&postcount=4153

Ron.

[VarBreStr18]

Originally Posted by MetroYVR

Unfortunately, T2 owners are unlikely to move in until late 2020 or even early 2021 if your unit is on the higher floor. You should take it easy, you sold your house at the peak of the market and the appreciation on your Brentwood condo is still more than your rental costs.

Indeed, just got an email amendment that T2 delayed again till May 2020.
Geez ! Shape's lousy planning really screw up people's life. Perhaps it explains why they are still trying to sell T2 in City of Lougheed. They missed the best window for selling condo back in 2017. They also missed the best window for marketing TAB's T5. Serve them right, but then they do not need to care. They are only using other people's money.

[NetMapel]

Basil Box opening right next to Sporting Life. Photos by me today.

[shoeric]

Originally Posted by VarBreStr18

Indeed, just got an email amendment that T2 delayed again till May 2020.
Geez ! Shape's lousy planning really screw up people's life. Perhaps it explains why they are still trying to sell T2 in City of Lougheed. They missed the best window for selling condo back in 2017. They also missed the best window for marketing TAB's T5. Serve them right, but then they do not need to care. They are only using other people's money.

What was the T2 suppose to be finished before? I am a T3 owner and I found there is a long time to wait.....

[SpongeG]

that's a good spot for basil box

[wh0-care5]

Originally Posted by shoeric

What was the T2 suppose to be finished before? I am a T3 owner and I found there is a long time to wait.....

T2 original completion date was Fall 2018, then we got an amendment saying Fall 2019. Most recent amendment says May 2020.

[MetroYVR]

Originally Posted by VarBreStr18

Indeed, just got an email amendment that T2 delayed again till May 2020.
Geez ! Shape's lousy planning really screw up people's life. Perhaps it explains why they are still trying to sell T2 in City of Lougheed. They missed the best window for selling condo back in 2017. They also missed the best window for marketing TAB's T5. Serve them right, but then they do not need to care. They are only using other people's money.

Shape plans to release T5 when they feel that the market can finally absorb one-bedroom starting from $700k

[VarBreStr18]

Originally Posted by MetroYVR

Shape plans to release T5 when they feel that the market can finally absorb one-bedroom starting from $700k

Don’t you think unrealistic given today’s market.? They have problem selling T 2 at City of Lougheed. Shape missed the golden opportunity to launch T5 when SOLO sell their T 3 .... again poor planning. Solo sell T3 in record time at the peak of market.
Sure they can wait for market to recover when 1 bedroom goes for $700 K , that may be 10 years from now.
Opportunity only comes around once.

[NetMapel]

I feel for those who bought presales and are waiting for this project to complete. Nevertheless, I am going to make a bold prediction that all of this will be forgotten in a year's time

[VarBreStr18]

Originally Posted by NetMapel

I feel for those who bought presales and are waiting for this project to complete. Nevertheless, I am going to make a bold prediction that all of this will be forgotten in a year's time

Thank you for your encouragement. In the big scheme of things, this project is worthwhile. But the lengthy waiting from month to month paying $2000 rent ...sucks, especially when it does not need to be that way.

[Kevindemi]

Christ. The ads to rent at brentwood at the bottom of this page say move in "immediately".....owners left hanging.

[cairnstone]

[QUOTE=Kevindemi;8735733]

Originally Posted by cairnstone

Every City has different steps. Vancouver is a charter city so they have a different code that has to be followed. Every city has a different procedure. And yes Shape should be more transparent but individual owners you have no weight. As you technically don't own anything but the right to purchase when finished. And your contract can be cancelled.

What baffles me is that if the delay in getting a permit is because things are not to standard how come renters were allowed to just move in right away? City Hall doesnt care about safety standards for them???? That.s what makes me think the occupancy permit and safety excuse is masking some other problem.

A tower can be designed to operate as several buildings. That's why they allow mixed use buildings. So the section that is the rental will be completely separate from each other as the public sees it. So as project owner your rental section is what you want finished first as your lenders require a return so OP will start on those floors. This is industry standard. So in the presale floors are also finished to a higher detail than the market rental. Example an owners rep signs off on floors at a time where as presale get each unit inspected. So this takes time.

[cairnstone]

Originally Posted by VarBreStr18

Indeed, just got an email amendment that T2 delayed again till May 2020.
Geez ! Shape's lousy planning really screw up people's life. Perhaps it explains why they are still trying to sell T2 in City of Lougheed. They missed the best window for selling condo back in 2017. They also missed the best window for marketing TAB's T5. Serve them right, but then they do not need to care. They are only using other people's money.

They made a good choice slow selling as when the market recovers they are going to sell for record square footage. Oh they care. The amount of conditions on the money they borrow is huge. THere are floors of accounts and actuaries that go over every detail before they release funds. Presale money has no baring on the finance of the project its held in trust.

[cairnstone]

Originally Posted by VarBreStr18

Thank you for your encouragement. In the big scheme of things, this project is worthwhile. But the lengthy waiting from month to month paying $2000 rent ...sucks, especially when it does not need to be that way.

Before you decided to buy into a multifamily project did you look at the typical time line it takes for a project of this scope to get completed. King Ed Village is an example of a project that was 2 plus years behind. It was built when the market was slow.



4 things are the main cause for delays owner( Value engineering, design and delays do to money, construction delays( labour or material), and the city as they are very slow in hiring and firing. So developers are left waiting. ANd the last is environment delays can easy add a year to a project like this. From having extreme weather to unknown soil conditions that may cause delays