Real Estate

Festival Condos Vaughan - where’s the hype?

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  • Nov 16th, 2020 11:49 pm
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CondoMan98 wrote: Those are the Abeja condos near Vaughn Mills mall.
Yep, my condo (Park Avenue) next to it.
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deal_with_singh wrote: No matter how cheap I don't like condos in that area at all, its a higher end detached area where condos don't fit regardless of being just a highway exit away. Its why I was so against Abeja etc.
Looking at google maps, I can see what you mean. I think there will horrible traffic along Rutherford in 10-20 years too.
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CondoMan98 wrote: Looking at google maps, I can see what you mean. I think there will horrible traffic along Rutherford in 10-20 years too.
Traffic is already bad now, lots of traffic on Jane, Rutherford, 400 especially in summer (Wonderland).
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if you know anything about condo sales.. 40% is nothing.
I'm pretty in tuned with the market, platinum agents are not pushing this product. I won't be surprised if delayed.

This reminds me of 250 Lawrence.
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oasis100 wrote: This reminds me of 250 Lawrence.
Ya, I can see that. 181 Sheppard is just way too much money for a mediocre product. I never looked at the intersection at Willowdale near the Rona and thought, "Wow! Prestigious area!!"

What happened to 250 Lawrence? Is it getting built?
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CondoMan98 wrote: Ya, I can see that. 181 Sheppard is just way too much money for a mediocre product. I never looked at the intersection at Willowdale near the Rona and thought, "Wow! Prestigious area!!"

What happened to 250 Lawrence? Is it getting built?
250 Lawrence, The last I heard, which was like last week, they still have 75 units for sale, for a project that has 174. And its been on sale since last year. Construction has not started yet, they haven't even taken down the existing building on the site yet either.
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oasis100 wrote: 250 Lawrence, The last I heard, which was like last week, they still have 75 units for sale, for a project that has 174. And its been on sale since last year. Construction has not started yet, they haven't even taken down the existing building on the site yet either.
That is a lot to sell. Could they cancel it?
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CondoMan98 wrote: That is a lot to sell. Could they cancel it?
I don't think so. but i think there is delays with financing.
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deal_with_singh wrote: No matter how cheap I don't like condos in that area at all, its a higher end detached area where condos don't fit regardless of being just a highway exit away. Its why I was so against Abeja etc.
Don't know how true it's. It said Tower 1 is sold out. Selling Tower 2. People must be buying this like hot cakes.
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oasis100 wrote: if you know anything about condo sales.. 40% is nothing.
I'm pretty in tuned with the market, platinum agents are not pushing this product. I won't be surprised if delayed.

This reminds me of 250 Lawrence.
When bought my 1st condo in 1995, the sale lady said the builder wouldn't start building when the units were 90% sold. I think it is true, my 2nd unit was bought in 2015 but it did not start building until 2018.
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oasis100 wrote: if you know anything about condo sales.. 40% is nothing.
I'm pretty in tuned with the market, platinum agents are not pushing this product. I won't be surprised if delayed.

This reminds me of 250 Lawrence.
I was just stating the fact that 40% was sold even prior to launch.

Obviously 40% is far from 100% but its not an insignificant amount. I wonder how much they sold so far.
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teoconca wrote: Don't know how true it's. It said Tower 1 is sold out. Selling Tower 2. People must be buying this like hot cakes.
apparently it is sold out.

and its a much worst location

vmc will sell just fine. people have capital to invest in.

i personally wouldn't buy into .
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oasis100 wrote: apparently it is sold out.

and its a much worst location

vmc will sell just fine. people have capital to invest in.

i personally wouldn't buy into .
Yeah, no doubt VMC will sell!
It would be funny if some of them were the ones got cancelled before. :)
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teoconca wrote: Don't know how true it's. It said Tower 1 is sold out. Selling Tower 2. People must be buying this like hot cakes.
I get this a lot from some of the buyers who come to me. A lot of things on preconstruction end up selling out, not because it was a hot project, or a good investment, but because of how Agents market the product. At the end of the day its all about marketing.

Think of 199 Church and tell me in what way was that remotely investable? Its sold "well" even as junk. Why? The builder gave access to that project to nearly every agent who normally wouldn't even be able to sell preconstruction, and got an army willing to work to sell and reap the high commissions.

Similar thing with Abeja and such, it wasn't a "hot project", it was just made into one. The key selling point being the low prices in comparison to highway 7, though compare it to the existing building there and its still expensive, and those don't even sell (long average DOM)


Compare that to projects where you need a platinum agent to get a good unit (think Distrikt, UWS, Westport, and I'd argue Festival etc.) with less of a marketing play, and more of a features and potential play.
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deal_with_singh wrote: I get this a lot from some of the buyers who come to me. A lot of things on preconstruction end up selling out, not because it was a hot project, or a good investment, but because of how Agents market the product. At the end of the day its all about marketing.

Think of 199 Church and tell me in what way was that remotely investable? Its sold "well" even as junk. Why? The builder gave access to that project to nearly every agent who normally wouldn't even be able to sell preconstruction, and got an army willing to work to sell and reap the high commissions.

Similar thing with Abeja and such, it wasn't a "hot project", it was just made into one. The key selling point being the low prices in comparison to highway 7, though compare it to the existing building there and its still expensive, and those don't even sell (long average DOM)


Compare that to projects where you need a platinum agent to get a good unit (think Distrikt, UWS, Westport, and I'd argue Festival etc.) with less of a marketing play, and more of a features and potential play.
I never thought about it that way. Thanks for the explanation.
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199 church proved there is no need for Platinum access for anything in the core.
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oasis100 wrote: 199 church proved there is no need for Platinum access for anything in the core.
What do you think is going to happen? Did Centrecourt just set a new bench mark? Start releasing junk at $1500/sqft - as long as you give every agent unlimited access, it will sell!

Time will tell, but kinda ruins the brands image in my opinion, but lets see
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deal_with_singh wrote: What do you think is going to happen? Did Centrecourt just set a new bench mark? Start releasing junk at $1500/sqft - as long as you give every agent unlimited access, it will sell!

Time will tell, but kinda ruins the brands image in my opinion, but lets see
Builders just need to get rid of the agents, spend on advertising instead. That will help their brands, no misleading agents involved.

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