I bought a unit in the D Condo last winter and haven't really heard much about it since then, with the exception of one email from the listing agent after I emailed to inquire about the status (see below).
The accepted offer to purchase is for a spring 2015 possession date, but in the email below, they said summer 2015 possession. As recent as last week, I heard that they're now forecasting that it will be completed in 2016.
The Crystal Developers' Heritage Landing, also on Assiniboine Avenue, began construction months ago and is well on it's way. When that construction started it advertised completion for 2016 and I thought, "How is it possible that the D Condo will be finished before this one, when they haven't even started?" Now i'm thinking Heritage Landing will almost certainly be finished first.
A friend of a friend in the industry told me last week that he heard D Condo hadn't make the pre-sale numbers they needed to get financing. However, they're advertising they've sold 60% of the suites. How is that possible? Does anyone know how much needs to sell before you can start building?
Also, does anyone know anything about getting out of the deal, if you've purchased but don't want to wait until 2016 or beyond?
Aug. 28, 2013
"Even D Condo, a virtually sold-out tower planned for the former Restaurant Dubrovnik site on Assiniboine Avenue, remains in the planning stages. A building permit has yet to be issued for the proposed 24-storey tower, the City of Winnipeg confirmed."
Nov. 9, 2013
"This project is in the process of everything necessary for construction. At this time the bedrock testing is in for analysis, final architect drawings are in the works which takes time, Wind tunnel testing is happening, etc. We should have the final permits by Decmeber/ January then the foundation work can commence. As soon as the warm weather hits in the spring the building will be begin to be poured. We are on target for summer 2015 possession."
- Email from listing agent
Jan. 11, 2014
"Developer Karampaul Sandhu has just applied for the permits to begin construction."