PHOTO CREDIT: GCFRG
It should come as no surprise to those who drive along the QEW even on an irregular basis or those who follow our posts, that the first phase of LJM’s “Waterview Condominums” has been declared as “delayed”.
Alexandra Heck of Niagara This Week queried the developer about the delayed project and the upcoming OMB hearing on Phase II of Waterview. Before we give you the link to the post, we picked out a few tidbits that we thought were quite interesting to say the least.
“LJM developments president Liaquat Mian says the first phase of the three-part project was supposed to be finished in May”
Given that the crane for the project went into the ground in 2015, various condo websites are still advertising a Spring 2016 completion date and even LJM’s own project page at http://ljm.ca/waterview-condominiums/ states a completion date of “Winter 2015” (we have a screenshot of this page if they decide to update it)… we will let you make the call on that statement.
“He says that he could not comment on whether they would rebate clients their deposits in the event that the OMB rules against them, but did say that he believes that would be an unlikely scenario.”
This is a very puzzling comment. In the case of real-estate, there is some additional protection offered through Tarion if a builder can’t deliver or goes insolvent. You can read more about the Tarion protections and limits at the following link: http://www.tarion.com/homeowners/makingthepurchase/Pages/Deposit-Protection.aspx
“The other side, they don’t really have a case,” he said.
If you want to judge that comment for yourself, the OMB hearing is currently scheduled for 5 days commencing October 30th (NTW listed it as October 27th). Full details are in our event listing at: http://www.grimsbycitizens.com/event/omb-hearing-ljm-waterview-condominiums-phase-ii/
You can read Alexandra Heck’s full article in Niagara This Week at: https://www.niagarathisweek.com/news-story/7488157-phase-1-of-ljm-s-grimsby-waterfront-condo-delayed/