What’s up at Cité Midtown 

Welcome to the second edition of What’s up at Cité Midtown, our bimonthly newsletter of Urban Capital’s progress in delivering Cité Midtown.

Condos

We continue to make good progress at Cité Midtown’s Phase 1 condominium building (Block 1.1). Window installation is almost complete, and the last major step in constructing the building’s exterior – installing the brick and metal panels – has commenced in earnest. Inside, we are well into finishing the individual suites and common areas. Our current projections call for the building to be “substantially completed” and ready for initial closings/move-ins in late October.

Despite the ongoing risks to our schedule posed by Covid-19, we feel confident enough to give you more specific dates for both your Pre-Delivery Inspection (your “PDI”) and your signing at the notary (your “Closing Date”), allowing you to then move in. Please note that these dates may change if circumstances surrounding the pandemic change.

Currently Anticipated PDI and Closing Dates

More specific dates on a per-unit basis will be provided over the summer.

Townhouses

The structure of the first block of Townhouses (Block 2.1) is now complete and windows are being installed. We continue to anticipate “substantial completion” of this block this coming October.

However, as you have probably heard, there are currently serious supply issues with wood construction products. In this context we have been advised by our structural wood supplier that there will be delays (likely in the order of a couple of months) in the delivery of wood trusses for Blocks 2.2 and beyond. This will unfortunately delay the delivery of these blocks to you. We apologize for this news, but hope you understand, given the unprecedented nature of what is going on in this sector.

Given the above, below is our current best estimate of when we will be in a position to conduct your PDIs and then proceed to close your purchase at the notary:

Currently Anticipated PDI and Closing Dates

The above dates for Blocks 2.3 and beyond are predicated on our building one block after the other, with a three month time period between each one. We are currently working with our trades to change this to build two blocks at a time, which would mean that Blocks 2.3 and 2.4 would be delivered in May/June 2022, and 2.5 and 2.6 would be delivered in August/ September 2022. We will keep you posted in our success in achieving this.

If you’ve been by the site over the last couple of weeks you will have seen that the crane has been erected for Phase 2. That’s another exciting milestone for us in executing the Cité Midtown master plan.

At our current rate we expect to complete the underground structure by the end of June, so you should start to see the form of CM2 appearing above ground this summer.

Think you’re going to need some extra storage space? We have a limited number of extra lockers available for purchase, at the reduced price of $1,950 each, plus taxes. This opportunity is only available to people who have already bought a storage locker; the second locker will be located adjacent to the first.

The cost will be added to your closing adjustments, so there will be no extra payment required now.

If you’re interested, please contact the sales office and we will prepare an amendment to your Preliminary Contract. This is a limited opportunity, on a first-come-first-serve basis.

Future-proof (or maybe it’s present- proof) your parking space.

As previously described, Electric Vehicle Charging (EVC) stations are available at Cite Midtown. The EVC option will be connected directly to your condo unit’s electrical system, meaning you only receive one hydro bill each month.

This option is only available for a limited time as construction is progressing quickly. The EVC option is available for $6,750 plus taxes. Please contact our sales office and advise of your interest in this option prior to May 17, 2021. 

Following this date, we will no longer be able to install an EVC station for you. Rather, you would need to arrange for this with the condominium syndicate, after you take possession of your unit.