Bucci Project Update August 27, 2013

We currently have two active projects, Tribeca in Mission and VEN Kensington. The following is a brief update on the state of sales and construction.

Tribeca in Mission – This 82 suite development sold out this past spring and is slated for completion late fall of this year. As of today’s date the finishing work is in full swing. The building is extremely busy with deliveries and installation of finishing materials (tile, flooring, cabinets, counters etc.). Our first task is to finish a “demonstration suite” that is completed to the satisfaction of our senior management team and the home warranty provider’s performance guidelines. Once signed off this suite is used as the model and expectation for the final finish in all remaining homes. As homes are completed they go through a three step completion and deficiency review: 1) Developer walk-through and deficiency correction 2) Homeowner Pre-occupancy walk-through and deficiency correction 3) Homeowner final occupancy walk-through.

As we near completion of Tribeca and get a better idea of the exact finished state of each suite we will begin communicating closing dates 35 days from occupancy. At this stage we know that homeowners want an exact date of occupancy for their new home with as much notice as possible. However, the farther out we provide a date then the greater risk there is for challenges to meet that date.

Tribeca Homeowner’s should stay tuned for important email updates, the “35 Day Notice” letter via registered mail and the Bucci Facebook, Twitter and YouTube pages for more regular updates and video.

We recently completed a Built Green(R) audit of the building with Jennifer Hancock, Director Sustainable Construction for Chandos Construction. Check out Jennifer’s interview.

VEN Kensington – Currently this 114 suite project in Kensington is 60% sold. The project site on 5th Avenue NW has been completely cleared with the previous houses demolished and removed in early Summer. Interesting to note that nearly 90% of the demolition contents were recycled!  

At present we are awaiting issuance of permits (building, development, excavation etc.) from the City of Calgary. Needless to say the city’s permit approval department has been extremely stressed as a result of this past Spring’s floods, however, we understand the approvals to be imminent.

The VEN Show Suite was closed for the summer to give our hardworking Calgary team some much deserved time off. We re-open on September 3rd for regular hours 12pm – 6pm daily, closed Friday.

All the best,

Shane Styles – Sales and Marketing Manager