CALGARY | 6th & Tenth | FT | 31 FLOORS - Page 5

waichuntull · #81 Posted **May 28, 2014, 9:36 PM**

Does anyone know who is doing the break ground ceremony?

waichuntull · #82 Posted **May 28, 2014, 11:34 PM**

Quote:

Originally Posted by red_179

Unfortunately, a purchaser probably doesn't have much recourse but to wait it out. I don't think I've ever seen a pre-build contract that didn't state that the completion date could be delayed and that the builder is not making any guarantee as to the date of possession. Also, often these contracts contain conditions precedent in favour of the builder with respect to pre-sales and financing. It really depends on the wording of the contract (which I have not seen), but in my experience typically the builders' protect themselves well in the standard form contracts they have drafted, to limit the recourse of the purchasers.

Ultimately, a purchaser could try and take the builder to court on the basis that the delay in construction is of such a degree that the builder has fundamentally breached the contract and therefore the deposit is refundable and the contract is rescinded, however I highly doubt the delay on this project would meet that criteria.

Does anyone know how long of such delay would meet that criteria?
So, this was the reason for the date amendment.

Does anyone know what is "Early Possession Date"?

waichuntull · #83 Posted **May 29, 2014, 12:20 AM**

Quote:

Originally Posted by jmb

There is usually an inside date (liberal guess at construction completion) and an outside (drop dead date). Unless the developer extends the outside date, which the purchaser would have to agree to, if the original outside date is missed, the contract is void. Anyone that put money into that project clearly did not do their research. 18 month delay is clean evidence that the initial dates were bullsh-t and only used to get people to buy. Lamb knew all along that the project wasnt going to break ground 18 months ago.

Good info for sharing.

If the purchaser(s) have not agreed to amend these 2 dates, the contract will be voided.

The question is, "can the contract be voided before the drop dead date?or Has to wait until closer to the drop dead date?"

Cowtown_Tim · #84 Posted **May 29, 2014, 2:42 PM**

Quote:

Originally Posted by waichuntull

Does anyone know who is doing the break ground ceremony?

I would assume Brad Lamb would be there.

Surrealplaces · #85 Posted **May 29, 2014, 2:57 PM**

.

Quote:

Originally Posted by Doug_Cgy

According to Facebook, Brad Lamb is currently en route to Calgary, from Asia. He doesn't say 'WHY' specifically, but I'd assume it could have something to do with the groundbreaking ceremony at 6th & 10th.

waichuntull · #86 Posted **May 29, 2014, 8:48 PM**

Let's guess,

6th and Tenth:

how many for May 30 break ground ceremony?

how many for "no show, nothing"?

Design-mind · #87 Posted **May 29, 2014, 10:42 PM**

Quote:

Originally Posted by waichuntull

Let's guess,

6th and Tenth:

how many for May 30 break ground ceremony?

how many for "no show, nothing"?

Hopefully it is go time for real! This is my favourite condo proposal for Calgary.

jmb · #88 Posted **May 30, 2014, 9:06 PM**

Quote:

Originally Posted by Design-mind

Hopefully it is go time for real! This is my favourite condo proposal for Calgary.

It will be a miracle if it happens today (despite him tweeting). The first ground breaking announcement was for December 2013. You cant break ground with a fully functional sales centre still sitting on it. My guess is he will dip a spade into the parking lot and drink champagne, then no real digging will occur. I feel for the buyers, but they should have done a little more research.

Design-mind · #89 Posted **May 31, 2014, 9:45 PM**

Went by the site yesterday and there was no sign of a spade going in anywhere in the front of the sales centre or the rear parking lot. His Facebook page is also void of any new info, as this would have been huge. I believe it didn't happen!

Surrealplaces · #90 Posted **Jun 1, 2014, 9:36 PM**

Quote:

Originally Posted by Design-mind

Went by the site yesterday and there was no sign of a spade going in anywhere in the front of the sales centre or the rear parking lot. His Facebook page is also void of any new info, as this would have been huge. I believe it didn't happen!

I think you're right. I went past on Friday and there wasn't any sign of activity.

Chadillaccc · #91 Posted **Jun 2, 2014, 12:16 AM**

Another date come and gone, what a fucking farce.

Surrealplaces · #92 Posted **Jun 2, 2014, 2:48 PM**

I figured with an exact date, and Lamb tweeting that he was coming to Calgary, that it would happen for sure, but I guess not.

waichuntull · #93 Posted **Jun 2, 2014, 4:34 PM**

6th AND TENTH:
As long as,
1. the lot is still a fee paying parking lot.
2. DP & BP not released.
3. Street parking is allowed around the corner.

No construction commencement.

It is very interesting to know how many have not signed the date amendment document and what do they plan to move forward.

waichuntull · #94 Posted **Jun 2, 2014, 5:56 PM**

Quote:

Originally Posted by Doug_Cgy

This is what Fortress Development has to say about 6th & Tenth...

Quote:

Originally Posted by O-tacular

I'd be pissed if I put money down on 6th and 10th. Not sure how Lamb can sell this 'investment' when there is no capital to back him and it is entirely at the mercy of weak sales.

Quote:

Originally Posted by O-tacular

Mine too. Though the anticipation to see the new Library design is really killing me.

The sad part is that how could this developer ask the purchasers for deposit without the date, wishi washi ......

The Orchard ... The Jasper House...

Deepstar · #95 Posted **Jun 2, 2014, 5:56 PM**

I thought for sure this would be it!

waichuntull · #96 Posted **Jun 2, 2014, 6:18 PM**

6th AND TENTH:

Does anyone know :
when is the Application Date of the Building Permit for this project, the date that the permit is applied?

waichuntull · #97 Posted **Jun 2, 2014, 6:39 PM**

Quote:

Originally Posted by Surrealplaces

Judging by the DP# (DP2012-0285), it would have been Jan/Feb of 2012

Then the BP, building permit.... BP# ?? Where to find

By the way, interesting url :

http://badjlamb.wordpress.com/page/5/

waichuntull · #98 Posted **Jun 2, 2014, 6:43 PM**

Quote:

Originally Posted by waichuntull

That is interesting.

Building permit applied just last week.

....

PVG-YYC · #99 Posted **Jun 2, 2014, 8:22 PM**

I read the blog... that was pretty bad.

Don't they have any new home protection program like whaat we have in Alberta?

waichuntull · #**100** Posted **Jun 2, 2014, 9:01 PM**

Quote:

Originally Posted by jmb

Its not just that, he is 18 months behind his original construction start date - something unheard of since 2008. He is also slashing prices on the remaining inventory, which is a kick in the balls for people that bought early, and again very uncommon.

The reason he can do multiple projects is because he uses investors vs. a bank lender and therefore is able to take more risk, at the expense of those he sells to. Its how he does business that is pathetic, not that they wont get built. To twitter and facebook everyone saying "May 31 ground breaking" then to not show up to your own party because your getting handjobs in signapore is a bit pathetic.

Mortgage syndicate......