Station Park | 18, 28, 36, 40, 50 fl | U/C

[CP42]

September is final tentative occupancy date.

Then I'll 99% guarantee it gets delayed. How much? Can't say. But with condos, especially on the lower floors, final tentative rarely becomes final firm without at least a little delay.

I know a lot of people assume they want to drag out occupancy as long as possible, but wouldn’t they want to close quicker and collect payment from the purchasers so they have adequate capital to start the next phase?

Occupancy != financial close. The first move-ins will almost certainly be interim occupancy, where you effectively pay rent to the builder but not a mortgage. The interim occupancy fees aren't allowed to be profitable to the builder, they're exactly property taxes + condo fees + interest-only mortgage. So you're right a builder has an incentive to close quicker, but there isn't really much incentive to get interim occupancy sooner. It does probably save them some interest costs, but it also makes all the work they're doing more expensive as they have to work around occupied areas.

I’m on one of the top floors of tower 1 and also was given a September final occupancy date, albeit a week or so after those on the lower floors. Since my unit is on one of the upper floors I assumed there wouldn’t be a long interim occupancy period, as I believed they can register/close once a significant majority of units has been occupied. Unless the process is held up by some bureaucratic red tape?