Real Estate

Recent New Construction DT Toronto Condo Owners, How long was your interim occupancy period?

  • Last Updated:
  • Oct 13th, 2021 10:30 pm
[OP]
Sr. Member
Sep 11, 2017
517 posts
378 upvotes

Recent New Construction DT Toronto Condo Owners, How long was your interim occupancy period?

Hello All,

For those who had a condo occupancy period begin (and hopefully close) during the last 18 months in DT Toronto, how long was your occupancy period? Trying to get a gauge on some of the occupancy timelines that are being seen given the slowdowns in approvals/admin work with the city since last year.

This is not scientific by any means and results will likely vary I get that....

Thanks all,
17 replies
Sr. Member
Aug 16, 2007
906 posts
118 upvotes
Richmond Hill
Not quiet DT Toronto but we took Occupancy on a condo April 2020 which lasted till the end of December. This was Don Mills and Eglinton
Member
Oct 5, 2007
225 posts
16 upvotes
Toronto
I took occupancy in Sep 2020, for a Daniels condo downtown. Occupancy was supposed to be Jan 2020, pre pandemic, then got delayed to June 2020 and then September.
However, the occupancy and closing ended up being the same month fortunately which usually rarely happens, resulting in no occupancy period, but there was the 7-8 month delay in Occupancy due to covid.
Deal Expert
Feb 29, 2008
19122 posts
17465 upvotes
Tarrana & The Ri…
I've never had occupancy go beyond 6 months. Depends on a lot of things though. For instance, where is the unit located? Lower floor means longer occupancy. Higher floor means shorter occupancy. Is the unit where the external elevator shaft is? That's shorter occupancy. Then some builders like Tridel and Daniels will have the place damn near ready at occupancy...so much shorter occupancy period. Other builders will have people moving into a complete construction zone. Longer occoupancy.
Deal Addict
Oct 21, 2006
1053 posts
827 upvotes
I took occupancy in late June 2021, the building was registered in July 2021, final closing scheduled for late Sept 2021. The first wave of interim occupancy for lower floors began in Feb 2021.
Deal Addict
Jan 28, 2017
1068 posts
1183 upvotes
Midtown condo, mid/high floor. Took occupancy in April 2021 and still in occupancy. I called the builder customer service couple of weeks ago and they said closing likely "end of the year" so who knows.
Member
Mar 3, 2021
326 posts
194 upvotes
My most recent one took occupancy right before COVID started, and it took them 1 year and 4 months to close :)
[OP]
Sr. Member
Sep 11, 2017
517 posts
378 upvotes
TVBuddies wrote: My most recent one took occupancy right before COVID started, and it took them 1 year and 4 months to close :)
Oh no. It seems like the condo owners that took occupancy possession right when Covid started last spring experienced the longest delays as approvals grounded to a halt with everyone being on lockdown. I'm guessing that the parties/city officials involved in the process have developed alternate ways of working that allows them to keep the closing processes moving forward....(I hope)
Deal Addict
User avatar
Apr 12, 2013
2920 posts
1904 upvotes
Moon
Learned this from another thread but you can request to pay in advance to avoid the occupancy fees if thats what you wish, speak to your lawyer.
Koodo, Public Mobile, Lucky Mobile Customer
Sr. Member
Mar 14, 2018
954 posts
917 upvotes
GTA
Occupancy in June 2019, final closing in Jan 2021. So over 18 months. This was in Leslieville.

Tarion insurance can cover for some loss if they didn't communicate the delay in advance...
[OP]
Sr. Member
Sep 11, 2017
517 posts
378 upvotes
kangarooz wrote: Learned this from another thread but you can request to pay in advance to avoid the occupancy fees if thats what you wish, speak to your lawyer.
I asked my agent and they indicated that cash buyers need to indicate during the 10 day cooling off period they are cash buyers in order to not have to pay the interest component on occupancy fees.
Member
User avatar
Dec 14, 2006
217 posts
131 upvotes
Toronto
~3 months. My unit was one of the very last units to occupy as it was a hoist unit.
Life is Hard. It's harder when you're stupid.
Deal Addict
User avatar
Apr 12, 2013
2920 posts
1904 upvotes
Moon
FedExpress wrote: I asked my agent and they indicated that cash buyers need to indicate during the 10 day cooling off period they are cash buyers in order to not have to pay the interest component on occupancy fees.
Lol speak to your lawyer.

Take a look here
Koodo, Public Mobile, Lucky Mobile Customer
Sr. Member
Oct 16, 2008
980 posts
179 upvotes
Toronto
Yonge/Eg - Occupancy March 2021; Closed July 2021.
[OP]
Sr. Member
Sep 11, 2017
517 posts
378 upvotes
Pho6 wrote: Yonge/Eg - Occupancy March 2021; Closed July 2021.
High floor unit?
Sr. Member
Oct 16, 2008
980 posts
179 upvotes
Toronto
Yeah, second highest.
Member
Mar 12, 2015
276 posts
256 upvotes
North York, ON
Greektown - Occupancy April 2021; already 6 months in and still not closed. I'm on the second highest floor, everyone has moved in since May 2021. I don't know what's taking them so long. What should I do, chase developer?
Newbie
Aug 30, 2017
84 posts
17 upvotes
Riverside. More than a year now of occupancy..Disappointed Face

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