ville-marie L'Avenue - 50 étages

[jdrinboston]

L’information que vous cherchez se trouve en bas:

 

http://mtlurb.com/forums/showthread.php?p=161154#post161154

 

48 étages habitables, augmentés d’un toit de 17 mètres, sont prévus pour ce projet. Si vous entrez dans le pavillon et propose un offre pour un appartement au 49ieme étage, ils vous informeraient qu’il est nul. La hauteur réaliste prévue pour l’édifice est de 195 mètres, mais peut se diminuer selon la parole de Broccolini par rapport aux niveaux de stationnement et au volet commercial.

 

Il n’y a aucun indication en ce moment que les emprunts qui devraient être fournis par la Banque de Montréal et Caisse Populaire Desjardins étaient accordés. Alors, nous croyons que Broccolini Construction Inc. autofinance les démarches initiales de la construction en miroitant la stratégie de son voisin ou bien tire des emprunts à court durée des investisseurs commerciaux privés avec des coupons courus qui se varient entre 15 et 20 pourcent par année. En date d’aujourd’hui, la Groupe Broccolini a reçu des dépôts totalisant quelque 15 millions de dollars pour un projet qui coutera environ 200 millions de dollars.

 

J’espère que la stratégie, qui entraine plusieurs risques, réussira. Malgré sa flexibilité par rapport au caractère bureau/détaillant du basilaire, il faut trouver des locataires qui sont prêts à conclure des baux pour consolider le financement du projet. Malheureusement, on ne mentionne plus Canadian Tire et Loblaws dans nos paroles. En démarrant la construction, la Groupe Broccolini a gagné un délai de grâce d’un an. Il faut être tellement assuré de la livraison parce-que le bilan se ressemblerait au destin du Centre York ou de l’Îlot Voyageur.

 

http://montreal.ctvnews.ca/downtown-voyageur-complex-to-be-completed-finally-1.1355002

 

 

So they started construction without financing? Yikes. Fingers crossed.

[Invité Olivier2160]

So they started construction without financing? Yikes. Fingers crossed.

 

Je ne suis pas certain de comprendre toute cette notion de financement. Que fait-on de l'argent provenant de la vente de tous ces condos jusqu'à maintenant ? On parle de plusieurs miliions de dollars assurés non ?? Tous ces acheteurs qui devront débourser au fur et à mesure que le projet avance ne garantissent-ils pas le financement requis ? Je comprends qu'il en manque encore mais au prix que Brocolini vend ses condos et penthouses et vu le % de vente, il me semble qu'il est assis sur un beau magot non ? Quelle est la différenc entre ce projet et Icône et Roccabella ? Enfin, je ne saisis peut être pas toutes les nuances...

[peekay]

Je ne suis pas certain de comprendre toute cette notion de financement. Que fait-on de l'argent provenant de la vente de tous ces condos jusqu'à maintenant ? On parle de plusieurs miliions de dollars assurés non ?? Tous ces acheteurs qui devront débourser au fur et à mesure que le projet avance ne garantissent-ils pas le financement requis ? Je comprends qu'il en manque encore mais au prix que Brocolini vend ses condos et penthouses et vu le % de vente, il me semble qu'il est assis sur un beau magot non ? Quelle est la différenc entre ce projet et Icône et Roccabella ? Enfin, je ne saisis peut être pas toutes les nuances...

 

J'ai la liste de prix en mains. Le moins cher est 270,900$ au 22ieme étage.

Ils demande un somme de 3,500% plus 5% en 10 jours

+ un autre 5% dans 90 jours

+ 5% dans 180 jours

+ 5% dans 365 jours

 

Les étrangers eux doivent un mise de fond de 30%.

 

Alors, je crois qu'ils sont ok pour debuter la construction, c'est quand meme broccolini, ils ont le cash. Tout ce que tu dois comprendre est les paroles de MALED1ZIONE ne vaux rien de tout.

[jdrinboston]

Je ne suis pas certain de comprendre toute cette notion de financement. Que fait-on de l'argent provenant de la vente de tous ces condos jusqu'à maintenant ? On parle de plusieurs miliions de dollars assurés non ?? Tous ces acheteurs qui devront débourser au fur et à mesure que le projet avance ne garantissent-ils pas le financement requis ? Je comprends qu'il en manque encore mais au prix que Brocolini vend ses condos et penthouses et vu le % de vente, il me semble qu'il est assis sur un beau magot non ? Quelle est la différenc entre ce projet et Icône et Roccabella ? Enfin, je ne saisis peut être pas toutes les nuances...

 

I'm bringing an American perspective to this, but I will try my best. From what I can tell, Canadian condo projects typically must sell a designated number of units in order to convince banks and lenders to provide the loan funding needed to construct these buildings. This is different from the U.S., where most real estate projects are built "on spec" or "speculation." Meaning, a developer convinces a bank about the viability of a project based on market research and local income data. A bank then chooses to finance or not finance a project - not based on prior sales - but based on their confidence in a specific developer. Marketing for units in some cases may not begin until construction actually begins, though some do start earlier.

 

My guess is that the sales figures we see in Montreal ( and Toronto, Vancouver etc.) are actually based on binding contracts, which require a buyer to lay down a non-refundable deposit, probably in the 10 to 15 percent range. The balance of the purchase price of the unit would be due upon completion and delivery of the unit. This means that even if a building is 100 percent sold - like the Tower des Canadiens - the developer only has about 10 to 15 percent of his/her liquid proceeds in hand. The rest has to be financed, with the loan to be paid off as the buyers close on their units. Based on their start of construction, I am assuming Rocabella and Icone have secured financing. But that is only an assumption. Worst case scenario, if L'Avenue or any of these projects don't have their financing completed, and are unable to close on the loan, construction could stop pending the developers ability to secure the money to finish the projects. The results would be unfinished buildings/holes in the ground. This does happen occassionally in the U.S. We have an infamous project in downtown Boston right now that is just starting up again. Reputable developers typically will not start a project unless they are confident they can finish. Let's hope that's the case here!

[mtlrdp]

The fact they are putting up their own building should save them millions of dollars, Maled1zone seems to be changing his make believe figures every 2 weeks, he hasn't gotten one figure or date right so far (the project is 30% sold? construction starting in October? anymore bullshit?)

[Invité Olivier2160]

I'm bringing an American perspective to this, but I will try my best. From what I can tell, Canadian condo projects typically must sell a designated number of units in order to convince banks and lenders to provide the loan funding needed to construct these buildings. This is different from the U.S., where most real estate projects are built "on spec" or "speculation." Meaning, a developer convinces a bank about the viability of a project based on market research and local income data. A bank then chooses to finance or not finance a project - not based on prior sales - but based on their confidence in a specific developer. Marketing for units in some cases may not begin until construction actually begins, though some do start earlier.

 

My guess is that the sales figures we see in Montreal ( and Toronto, Vancouver etc.) are actually based on binding contracts, which require a buyer to lay down a non-refundable deposit, probably in the 10 to 15 percent range. The balance of the purchase price of the unit would be due upon completion and delivery of the unit. This means that even if a building is 100 percent sold - like the Tower des Canadiens - the developer only has about 10 to 15 percent of his/her liquid proceeds in hand. The rest has to be financed, with the loan to be paid off as the buyers close on their units. Based on their start of construction, I am assuming Rocabella and Icone have secured financing. But that is only an assumption. Worst case scenario, if L'Avenue or any of these projects don't have their financing completed, and are unable to close on the loan, construction could stop pending the developers ability to secure the money to finish the projects. The results would be unfinished buildings/holes in the ground. This does happen occassionally in the U.S. We have an infamous project in downtown Boston right now that is just starting up again. Reputable developers typically will not start a project unless they are confident they can finish. Let's hope that's the case here!

 

Thanks very much for this very helpful info. Hopefully, things will be OK for every of these great projects happening right now.

[franktko]

Sans vouloir jeter une douche d'eau froide à mes co-forumeurs qui se branlent présentement mais moi j'ai bien hâte de voir apparaître des pieux sur le site, je vais mieux respirer...

[Habsfan]

Je dois vous avouer que j'ai une petite érection...

[lazou]

I'm bringing an American perspective to this, but I will try my best. From what I can tell, Canadian condo projects typically must sell a designated number of units in order to convince banks and lenders to provide the loan funding needed to construct these buildings. This is different from the U.S., where most real estate projects are built "on spec" or "speculation." Meaning, a developer convinces a bank about the viability of a project based on market research and local income data. A bank then chooses to finance or not finance a project - not based on prior sales - but based on their confidence in a specific developer. Marketing for units in some cases may not begin until construction actually begins, though some do start earlier.

 

My guess is that the sales figures we see in Montreal ( and Toronto, Vancouver etc.) are actually based on binding contracts, which require a buyer to lay down a non-refundable deposit, probably in the 10 to 15 percent range. The balance of the purchase price of the unit would be due upon completion and delivery of the unit. This means that even if a building is 100 percent sold - like the Tower des Canadiens - the developer only has about 10 to 15 percent of his/her liquid proceeds in hand. The rest has to be financed, with the loan to be paid off as the buyers close on their units. Based on their start of construction, I am assuming Rocabella and Icone have secured financing. But that is only an assumption. Worst case scenario, if L'Avenue or any of these projects don't have their financing completed, and are unable to close on the loan, construction could stop pending the developers ability to secure the money to finish the projects. The results would be unfinished buildings/holes in the ground. This does happen occassionally in the U.S. We have an infamous project in downtown Boston right now that is just starting up again. Reputable developers typically will not start a project unless they are confident they can finish. Let's hope that's the case here!

 

In fact, generally, the Bank's money comes out last. The Bank will commit to provide the money when it has proof that the builder has enough capital to cover the value of the project that is not beeing financed (20% in many cases) and that someone will guarantee any cost overrun that the project may incur. So at any given time during construction, the Bank will disburse a portion of its loan to the builder based on the latter's paid expenses.

 

We don't tipically see abandonned buildings because the financing structure for these projects (when financed by Banks anyway) is usually pretty solid. Lenders almost always have numerous guarantees allowing them to ensure that the project will actually be finished. So once a project starts building, it will most likely be finished (even if the builder goes belly up).

Modifié 10 juillet 2013 par lazou

[monctezuma]

I'm bringing an American perspective to this, but I will try my best. From what I can tell, Canadian condo projects typically must sell a designated number of units in order to convince banks and lenders to provide the loan funding needed to construct these buildings.

 

You are right. 99% of condo projects here needs 60% sold before any bank will give financing unless the builder is rich enough to not require financing like Roccabella.