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  #461  
Old Posted Feb 1, 2016, 4:05 PM
Tacheguy Tacheguy is offline
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^ Very perplexing approach by Sandhu. Although you have to wonder, if there was any uncertainty about the rest of the project, why go to the trouble and expense of getting a crane and building the base?

I wonder how the people who have put money down feel about this? I have to say, given all the negative stories I've heard from people who pre-bought units in condo blocks, I honestly wonder if it's EVER a good idea, at least in this city. As much as I'd love to see more condo towers rise, I certainly wouldn't plunk down the cash for a unit in a building that isn't finished, especially if I actually intended to live in it.
That was exactly the legal advice I got when I signed up for my condo at 500 Tache. Don't do it!

In my case it turned out well but it can be nerve-racking.
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  #462  
Old Posted Feb 1, 2016, 6:44 PM
NK59 NK59 is offline
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That was exactly the legal advice I got when I signed up for my condo at 500 Tache. Don't do it!

In my case it turned out well but it can be nerve-racking.
The idea of Sandhu being involved in the construction of a high rise building is scary. I hope some of the buyers have construction knowledge and are willing to put time into fighting to get what they paid for.
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  #463  
Old Posted Feb 2, 2016, 3:17 AM
blueasajewel blueasajewel is offline
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Originally Posted by esquire View Post
^ Very perplexing approach by Sandhu. Although you have to wonder, if there was any uncertainty about the rest of the project, why go to the trouble and expense of getting a crane and building the base?

I wonder how the people who have put money down feel about this? I have to say, given all the negative stories I've heard from people who pre-bought units in condo blocks, I honestly wonder if it's EVER a good idea, at least in this city. As much as I'd love to see more condo towers rise, I certainly wouldn't plunk down the cash for a unit in a building that isn't finished, especially if I actually intended to live in it.
Short answer - Optics. Generate the perception of a project moving ahead with the hope of getting further sales.

WRT buying presales - It's a little sad to see that we want to have more towers go up but aren't necessarily prepared to support said towers - however, I wouldn't throw the baby out with the bathwater.

Yes, there may be certain risks in buying presale but there are also many benefits. At the end of the day, you, as a purchaser need to do your due diligence on the developer - track record/ability in the category of building you are contemplating i.e. hi-rise vs low rise, quality of prior buildings, speak to previous purchasers on their experiences etc., etc. If you look at Sandhu against this elementary checklist - they don't meet any one of the criteria.

Winnipeg is a bit of the wild west in terms of condo development with a lot of inexperience jumping into the market with underpowered proformas - I think this will get better as the market matures and condo requirements get further refined.

The influence of out of town developers will also potentially help move condo development forward...

Hopefully. Perhaps. Maybe.

BTW I've never seen a lawyer endorse a developers contract ;-)
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  #464  
Old Posted Feb 2, 2016, 3:24 AM
blueasajewel blueasajewel is offline
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The idea of Sandhu being involved in the construction of a high rise building is scary. I hope some of the buyers have construction knowledge and are willing to put time into fighting to get what they paid for.

The Condo Board can get a Technical Audit done which reviews the building systems and structure against the specificationss and as-builts and attributes costs to any issues identified. It's analogous to a unit deficiency list but applies to the building as a whole.
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  #465  
Old Posted Mar 18, 2016, 8:37 PM
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Curious has there been any progress on this project in the last month and a half or is it still in a standstill?
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  #466  
Old Posted Mar 18, 2016, 8:46 PM
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I walked by earlier this week and didn't see or hear much action going on.
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  #467  
Old Posted Mar 20, 2016, 6:36 PM
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Costly exercise for 2 tower cranes to remain on site if it wasn't going to proceed? Up to 20K/per month each and the cost to disassemble and remove said cranes? Ouch..

Either way, if the cranes come down, we'll put it on-hold or cancel it...
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  #468  
Old Posted Mar 20, 2016, 7:51 PM
Bluenote Bluenote is offline
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Costly exercise for 2 tower cranes to remain on site if it wasn't going to proceed? Up to 20K/per month each and the cost to disassemble and remove said cranes? Ouch..

Either way, if the cranes come down, we'll put it on-hold or cancel it...
We get a parkade out to the deal
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  #469  
Old Posted Mar 21, 2016, 2:17 PM
bomberjet bomberjet is online now
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Cranes came down? I thought they were just on hold to get through the winter. Start back up when weather is nicer to avoid heating and hoarding costs.
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  #470  
Old Posted Mar 21, 2016, 2:57 PM
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^ The cranes are most definitely still up. To echo Cyro's words, I find it surprising that they have two cranes just sitting there, by all appearances doing nothing. If the project's economics were tenuous to begin with, paying the bill for two cranes can't be helping any.
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  #471  
Old Posted Mar 21, 2016, 3:10 PM
bomberjet bomberjet is online now
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Ah, Cyro said IF the cranes come down. Maybe Sandhu bought the cranes? And will either sell them or operate a crane business after the project!
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  #472  
Old Posted Mar 21, 2016, 3:18 PM
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Ah, Cyro said IF the cranes come down. Maybe Sandhu bought the cranes? And will either sell them or operate a crane business after the project!
On the face of it, that actually seems plausible... especially if they plan to build more highrises (fingers crossed). Although even then they could be making money by renting them out to some other project instead of just having them sit on their site for months on end.

I can't imagine that the project won't be completed, though, even if it's ultimately by someone else... it looks like they've come too far at this point.
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  #473  
Old Posted Mar 21, 2016, 3:38 PM
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Hey, if we can build Dreamscape, then D-condo will definitely happen.
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  #474  
Old Posted Mar 21, 2016, 4:15 PM
NK59 NK59 is offline
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Hey, if we can build Dreamscape, then D-condo will definitely happen.
Just as long as Sandhu isn't involved in Dreamscape, it could happen.
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  #475  
Old Posted Mar 21, 2016, 4:16 PM
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Flatland Metropolis Flatland Metropolis is offline
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Cranes are still on site, when I drove by on Thursday not much going on. Looks like they "topped out" the parkade" things were still wrapped up. If there's no activity by the end of April that might be worrisome but it still seems like this thing will go ahead, one day.
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  #476  
Old Posted Mar 21, 2016, 4:26 PM
Rudiger Rudiger is offline
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Originally Posted by Flatland Metropolis View Post
Cranes are still on site, when I drove by on Thursday not much going on. Looks like they "topped out" the parkade" things were still wrapped up. If there's no activity by the end of April that might be worrisome but it still seems like this thing will go ahead, one day.
Yeah, it's been in its current "topped out" state since the week before Christmas (I live in the Bessborough next door and my apartment looks directly onto the site). There have been a few vehicles each day, and every now and then I can hear what sounds like a drill, but it really does seem to be mostly at a standstill.

Last week, there were a few guys from the crane rental company up on the cranes (not operating them), so I don't think Sandhu purchased them.
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  #477  
Old Posted Mar 21, 2016, 4:34 PM
bomberjet bomberjet is online now
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Guys drilling could be installing electrical or some other utility work. If there were guys up on the cranes, sounds like they might be getting ready to start up again. Maybe doing inspections and that, after sitting all winter.

Hopefully seem some progress soon.
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  #478  
Old Posted Mar 21, 2016, 6:19 PM
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More tellingly, Sandhu's smaller condo project on River has also been at a standstill all winter.
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  #479  
Old Posted Mar 22, 2016, 3:07 AM
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More tellingly, Sandhu's smaller condo project on River has also been at a standstill all winter.
Did Sandhu simply bite off more than he could chew? I really liked his enthusiasm and ambition but I do remember the other projects in the exchange too. I'd love to see the D condos finished, really good concept if executed at a high level.
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  #480  
Old Posted Mar 23, 2016, 5:01 PM
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We get a parkade out to the deal

Swanky good looking parkade it that's the case..The level above it had a roof top terrace planned ..
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