2514 replies to this topic

[scotto203]

From my observation 2 days ago, no.

Yeah, I was by there this evening and it looks like they still need to pour the concrete for the roof of that section.

[CitoyenduMonde]

We spoke to some of the workers onsite and they said they were working for Flynn the producer/installer/subcontractor of the glass and that they had expected to already be installing the glass, which is already on site, but that the supplier of the aluminum hasn't supplied the framework for the windows. This is both worrisome as this appears to be the bottleneck at the moment, and positive as the subcontractor is keeping people on hand to get things installed as soon as possible. If you walk around all 4 sides of the building site you can see that they have completed the pouring of the South building (new building) but still need to complete the top of the annex to the North building. The elevators are installed. All balconies except the annex ones are complete. You can likewise see that they have completed the plumbing and all interior frameworking for the inside walls. We also saw tiling being positioned for quick installation as well as other building materials being moved. It would not surprise me if the parking garage is presently packed full of the building supplies needed to do most of the inside work once the building is enclosed with glass.

[Mike K.]

I'm sure Flynn has plenty of other sites that their crews can work on in the area while they await the aluminium supplier's materials, so luckily all's not lost for their crews. The material supply chain is a bit of a struggle right now across the region.

[Kramer]

Curious if any buyers have been contacted to go over interior design options and to “sign off” as per the contract.

Attached Images

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Edited by Kramer, 13 October 2019 - 04:16 PM.

[Moxuz]

2019 3rd Quarter Development Update

COMMERCIAL LEASING/SALES
Our targeted Health & Wellness/Medical tenant mix for the lower commercial levels, which is also consistent with the historical use of the existing (former Medical Arts) building, is yielding very significant interest. We have sold 3 commercial units, and our listing agent Colliers is engaged with several serious prospects. Now that the buildings are nearing completion and fixturing timelines are apparent, interest in the commercial space is intensifying.
RESIDENTIAL SALES
Suites are sold out, except for a handful retained, with a significant equity gain expected for purchasers upon occupancy, due to our early pre-sale program and ensuing general market price increase.
CONSTRUCTION
Existing (North) building:
Delivery of windows (delayed due to aluminum curtainwall fabrication bottlenecks) is now well underway. Annex building addition structure is complete. Electrical, plumbing, fire systems complete.
New (South) building:
Structure complete, all concrete poured, crane being removed. Framing of suites 90% complete. Electrical, plumbing, fire systems well in progress. Electrical Unit substation in place. Roof complete with planters and landscaping/rooftop elements underway. Commercial canopy complete.
Construction financing is running seamlessly.

The Wade is on budget and, due to curtainwall delivery delays, scheduled for a March 2020 occupancy permit. The project’s financial profile and projected profitability remains unchanged

Edited by Moxuz, 15 October 2019 - 10:30 AM.

[Kramer]

Not sure how the projects projected profitability can remain unchanged when the delivery is a year + behind schedule and they are paying high interest rates on deposits as per their marketing and sales program.

They have already been caught in a lie before saying the sidewalk collapse will have no impact on delivery timeline and then a few months later they blame a delay on it lol. Hard to take them at their word at this point.

Also, curious where you got these updates from? I appreciate that.

Summer 2020 is still my estimate for completion..

[Mike K.]

2019 3rd Quarter Development Update

COMMERCIAL LEASING/SALES
Our targeted Health & Wellness/Medical tenant mix for the lower commercial levels, which is also consistent with the historical use of the existing (former Medical Arts) building, is yielding very significant interest. We have sold 3 commercial units, and our listing agent Colliers is engaged with several serious prospects. Now that the buildings are nearing completion and fixturing timelines are apparent, interest in the commercial space is intensifying.
RESIDENTIAL SALES
Suites are sold out, except for a handful retained, with a significant equity gain expected for purchasers upon occupancy, due to our early pre-sale program and ensuing general market price increase.
CONSTRUCTION
Existing (North) building:
Delivery of windows (delayed due to aluminum curtainwall fabrication bottlenecks) is now well underway. Annex building addition structure is complete. Electrical, plumbing, fire systems complete.
New (South) building:
Structure complete, all concrete poured, crane being removed. Framing of suites 90% complete. Electrical, plumbing, fire systems well in progress. Electrical Unit substation in place. Roof complete with planters and landscaping/rooftop elements underway. Commercial canopy complete.
Construction financing is running seamlessly.

The Wade is on budget and, due to curtainwall delivery delays, scheduled for a March 2020 occupancy permit. The project’s financial profile and projected profitability remains unchanged

 

This is good.

 

Once we see the windows going in things will ramp up quickly for the remaining interior work.

[CitoyenduMonde]

Kramer,

 

I have tried to dig up the promised interest rates but cannot dig them up at the moment as we have most of our things packed away already. Could you perhaps share what they were supposed to be?

 

Not sure how the projects projected profitability can remain unchanged when the delivery is a year + behind schedule and they are paying high interest rates on deposits as per their marketing and sales program.

[Kramer]

Kramer,
 
I have tried to dig up the promised interest rates but cannot dig them up at the moment as we have most of our things packed away already. Could you perhaps share what they were supposed to be?

10% return on deposits were promised unless you chose the build your deposit (5% down spread over 12 months).

Also mike I’m not sure how “this is good” as this is the first time we have been told about another delay, and nothing has been posted to the wade website or sent to buyers. Most buyers are not on this forum so are still left in the dark and planning for a Jan move in.

[Mike K.]

I can only speak for myself, and I'm glad to see the progress that's taken place.

The developers are quick to answer emails from buyers. I'm sure plenty of them have been in regular contact with the developers. Others are quietly waiting for completion like those at every other project in town that’s facing delays.

[shoeflack]

Today...

[Mike K.]

Did you catch if any progress had been made on the balconies facing Pandora since the last photo update above?

[shoeflack]

Did you catch if any progress had been made on the balconies facing Pandora since the last photo update above?

 

None. Should there be any though? Don't they just need glass inserts and the designed metal/steel plate? I suspect that'd be among the final touches.

[Mike K.]

Yup. I can’t wait to see the plates, they’re so different.

[Zzz]

Did you catch if any progress had been made on the balconies facing Pandora since the last photo update above?

 

 

They are pouring the concrete pads in the metal frames right now.

[Zzz]

Curious if any buyers have been contacted to go over interior design options and to “sign off” as per the contract.

 

I haven't been contacted about this. I didn't even realize we get a final say lol. I can barely remember what the sample products look like 2+ years later.

[Mike K.]

Me too, I’ve forgotten what they all look like.

[Moxuz]

Also, curious where you got these updates from? I appreciate that.

Summer 2020 is still my estimate for completion..

I phoned Amadon Westwater and asked to be put on their email update list. I received the email yesterday.

[Mike K.]

There you go.

 

Anyone who bought a unit with the guidance of a real-estate agent should already be on that list.

[kitty surprise]

I phoned Amadon Westwater and asked to be put on their email update list. I received the email yesterday.

That is a really helpful tip - thanks!

Edited by kitty surprise, 16 October 2019 - 12:36 PM.