396 replies to this topic

[aastra]

All in all, it looks quite good.

[gumgum]

I hate the sign though.

[LJ]

" What is to become of these hideous tar paper shacks"

I was by there today and didn't see any "tar paper shacks". There are some small older homes that all seem to be well taken care of, some with nice gardens and flowers. There was one old shed that could be torn down that I noticed but on the whole I wouldn't call them hideous by any stretch.

These are affordable homes for some residents, I don't see any point in displacing them just to provide a better view from the condos.

[Caramia]

I agree LJ.

Personally, I'd rather live in one of them than in Reflections.

[snub]

I was by there today and didn't see any "tar paper shacks".

You're absolutely right. I was, for lack of a better term, "dramatizing".

[skaalster]

Thought I'd chime in and let you all know that JDM has invoked the "Force Majeure" clause in my contract stating a lack of labour and materials as the reason, I have been told the new completion date for the tower section is now 11 Dec 08...even that might be optimistic.....backout date was Sept 30 for me and probably for a lot of other folks in the tower as well and I'm sure they are just as frusterated at the delay as I am.....hopefully I'm not eating xmas dinner out of my van!?
Up to now no further work has been done on the lap pool on the rooftop other than the footings and I notice now that the anchoring bolts for the metal lattice accents on either end of the tower roof have been cut off and covered up...I'm hoping this is not a sign that the contracter is cheaping out on the details. How the tower looks now is probably what it will end up looking like, I still like the buildings look, it's very original, and definately stands out but it is does not have the nice design details of the model. I have been told by a JDM employee that the pool intallation has been heldup by 10 months by the CRD with something regarding the Pool deck surround material? I cornered and asked Andrew Khwoo about this and he assures me the pool will go in....we shall see.....

[Zimquats]

The CRD has nothing to do with Pools, or the decking surrounding them. All those approvals go through VIHA. It also seems to me that pool delays are the least of their problems there....

[skaalster]

My mistake, not sure why I put CRD!? (could it be the love I feel for that entity)...your right, it's with VIHA.
For now I'll take a roof over my head... without the pool.

[spanky123]

My mistake, not sure why I put CRD!? (could it be the love I feel for that entity)...your right, it's with VIHA.
For now I'll take a roof over my head... without the pool.

Accepting the roof over your head may mean that you never see the pool!

Best to consult with a lawyer when the time comes if you are not 100% happy with what has been delivered.

[snub]

For those ( like me ) who wonder what this is:

From Wikipedia



"Force majeure (French for "superior force") is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as war, strike, riot, crime, act of God (e.g., flooding, earthquake, volcano), prevents one or both parties from fulfilling their obligations under the contract. However, force majeure is not intended to excuse negligence or other malfeasance of a party, as where non-performance is caused by the usual and natural consequences of external forces (e.g., predicted rain stops an outdoor event), or where the intervening circumstances are specifically contemplated."

[Caramia]

Wow, looking at that definition it seems to be that they are stretching! Labour costs particularly have been known to be high and rising since before Reflections was a glimmer in it's father's eye. And other developments have gone ahead and reached completion in this same time span. I think if you wanted to dispute this, you could.

[Zimquats]

Caramia is absolutely correct insofar as there is a gigantic difference between 'no labour available period' and 'no labour available because we won't pay industry wages'.

If you fought them on it, in order to prove the claim they are making, they would have to provide evidence of trying to procure the labour required, such as job bank postings, classified ads (in other cities as well), and bringing in overseas workers (the things most contractors in town were doing to get workers). They would also have to prove that they pay the industry rates. Unless they did all this, there Force claim wouldn't hold up.

It should be noted that I have no idea if this company did these things or not...I'm just saying that's what they would have to show.

[skaalster]

Thanks to everyone for all the great info, much appreciated. I will definately be looking at my options through my lawyer...I can patiently wait a few more months as I really like the building, my particular unit and the area.
But come Dec....and it's still not completed.... I'll be prepared.

Cheers

[snub]

I don't know where the real estate market is now compared to when these units were originally sold, but it might be advisable to make sure the vendor doesn't have an "escape clause" in the contract. Apparently, the vendor as well as the purchaser, can back out of the sale.

A screen capture from a Vancouver forum:






Link to an article at CTV.ca:


http://www.ctv.ca/se...?hub=TopStories

[snub]

Apparently,as of Oct.4, six units in the wood frame section are now occupied. I would have thought there would have been a lot more, since the original completion date was January '08. Perhaps most of the people who bought these units only intended to flip them.


First "For Sale" sign went up on the weekend.








Two full bathrooms? I can barely keep one clean. O.K. When I say barely, I really mean rarely. Please don't ask to use it.

[concorde]

new completion date for the tower section is now 11 Dec

Does anyone know if this is still the planned completion date? If so, that gives them less than 4 weeks.

[snub]

I would have to say it's possible. Last week the parking lot got paved and this week they moved two trailer loads of appliances in to the tower. They also seem to be working heavily on the retail sections.


On a side note, my fears of increased traffic density have been calmed. For now. Although half of the project has been approved for occupancy, nobody showed up. About 8 of the units are occupied. I see that many are available to rent. Between $1400.00 and $1800.00 per month. On the 3rd floor. Seems a little steep to me. I don't know because last time I rented in the early 80's it was $600.00 for a 2 bedroom.


On another note: How is that for bad timing? The building becomes available for occupancy and at exactly the same moment....the world economy takes the largest dump it has ever seen.



Last note: My mutual funds have lost about $100,000 in worth since the "credit crunch". Could someone console me by saying they have lost more?

[aastra]

My losses for 2008 are minimal. Last year was the big debacle for me.

[RockFormation]

Last note: My mutual funds have lost about $100,000 in worth since the "credit crunch". Could someone console me by saying they have lost more

You've got to remember that your mutual funds haven't LOST $100,000 they have just temporarily gone down in value. You still have the same number of units and when they increase in value, you will see that money on your statements again. Unless you are retiring very soon and cashing out, you should be OK.

In times like these, if you are looking for something to invest in, invest in what people will always need. Don't invest in something unproven for potentially high returns.

I have complete confidence that the housing market will go back up. Maybe not next year or the year after that but within 5-6 years. I am just glad that I didn't purchase my condo to flip it right away.

[spanky123]

Ted Turner has lost $7 billion

$1400 to $1800 a month sounds REALLY steep to me.