SOBA - Construction Underway!

**For more information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

After a very quiet spring and summer, construction has officially started on Catherine street for SoBa condos. Being built by Brad Lamb of Lamb Developments (Toronto), this is the second building in Ottawa by the "King of Condos", first being Gotham located on Lyon.

We have been told that the construction crew is currently digging the Slurry Wall, which should last about 100 days for a project of this size. Then the main excavation is able to begin. A building permit was issued on August 27th 2015 to Doran Construction for a partial permit for excavation and shoring and part foundation only. Construction is expected to take two years and be completed in 2017.

Here is the construction site as of this morning - a screen shot from the live youtube camera of "Jimmy Joners" - Click here to view.

Interested in learning more about SoBa condos or downtown condos? I would love to chat - fill out the form below or email me matt@mattrichling.com

The Bowery Promo Event

New promo has just announced directly from Richcraft for anyone who purchases The Bowery. Buyers have the choice between no condo fees for one year, free storage locker, upgraded designer package, or hardwood in the bedroom.

While you might have a preference on which you would prefer, it will depend on the size of the unit to decide which option would be the best option. No condo fees for one year is typically a rebate or discount off purchase price. Easily calculated for the size of the unit - $0.36sqft 800sqft = $3456/year or 400sqft = $1728/year. Storage lockers are priced around $3,000. Then the designer package and hardwood depend on the unit. 

Questions about the building, units, or purchasing pre-construction condos in Ottawa? I would love to chat - fill out the form below or email directly Matt@MattRichling.com.

Domicile's Corners On Main - Grand Opening and Pricing

Domicile has announced the date for its highly anticipated - The Corners On Main, which will be located on Main Street. Read all about it HERE. 

For those looking to get first crack at available units, Saturday August 8th at 12noon, at the Kavanaugh Sales Centre located at 86 Beechwood Avenue. Floor plans and more details will be released then.

Domicile has released the price sheet (see below) for the available units and one floor plan for "The Centennial" (935sqft, two bedroom, one and a half bathroom, plus terrace). 

One bedrooms range from $261,600 for the Glenora (554sqft) to $389,200 for the Hazel (850sqft). Two bedrooms range from $411,100 for the Marlowe (930sqft) up to $490,900 for the Brantwood (1105sqft). "Two bedrooms plus" range up to $594,900 for the Merritt (1431sqft with terrace). Parking is an extra $33,500 but not available for the "Pied a Terre" or studio units. Domicile is estimating condo fees at 42 cents per square foot, and $33 per month per parking space.

For more information on condos for sale in Ottawa, or assistance with purchasing pre-construction condos - Fill out the form below! 

CLICK TO CONTACT

Domicile Corners On Main

---

The Slater - Promo Prices + Broker Event

The Slater - a 21 Storey tower that is mixed condos and a boutique hotel, at 199 Slater Street just off of Bank St. Developed by Broccolini the project is currently at around 80% sold out. Units range from 408sqft up to 1929sqft. "Inspired by the clean, square lines of the mid-century towers that surround it, it marries a hip 1950s aesthetic with a thoroughly modern sensibility. Minimalist interiors by II by IV are cool, classic and understated. The Slater is beautiful, sleek – and eternally chic. "

Last week I was invited to a limited brokers lunch where Broccolini walked through the project status, what is left for sale, a new promo being offered and a sneak peak for their next downtown space. Overall the project has seen good success, and a few units still remain. The promotions are not being advertised so if you are interested, contact me.

If you are interested in The Slater, and learning more about current promotions that are being offered, contact Matt Richling at Matt@MattRichling.com or by filling out the form below.

The Eddy - First Look Inside

Here is a first look inside of Windmill Developments newest building, The Eddy. Located at 1000 Wellington Street West in Hintonburg, The Eddy is a six storey, 52 unit building with units ranging from 675 sqft to 1079 sqft. Units have been occupied and all purchased units closed on by the owners/handed over from the builder. 

These photos are of the 623sqft Penthouse Albany model, which is a one bedroom one bathroom, north facing above Suzy Q and the Taco lot. The unit is currently for sale, listed at $342,500 with a monthly condo fee of $260 which covers the heat, water, building insurance, property management, and etc. For more information on the unit for sale, contact my colleague Anthony Donnelly (salesperson at RE/MAX Metro City Realty Ltd) at 613-866-1555 or click HERE.

Also get a full 3D walkthrough of the unit CLICKING HERE - warning it is pretty image heavy and takes a bit to load, but worth checking out. 

As you can see, exposed concrete ceiling and walls, exposed ductwork, high quality finishes, and quartz counters are some of the interior finishes. Building features puzzle parking system, rooftop terrace, hot tub, bbq area, and bike storage. Aiming for LEED Platinum.

Interested in The Eddy? I would love to chat.

The Eddy - Half Price Parking For Remaining 8 Units

Exterior shot of Windmill Developments project The Eddy 

In order to help sell the remaining units of The Eddy, Windmill Developments has reduced parking fee in half to $16,000. Only eight of the 52 units currently remain available, and range from $339,000 for The Magee which is a 675sqft one bedroom, up to $499,560 for The Reid a 1060sqft two bedroom (see floorplan below). Condo fees are at $0.35 per sqft per month.

The Eddy was recently featured on CTV news for having the first "puzzle parking system" in Ottawa. Click Here to watch the news clip.

For more information on the remaining units at The Eddy, or Windmill Developments other downtown projects, fill out the form below.

The Reid Floorplan at The Eddy by Windmill Developments.

The Corners On Main - Coming This Fall

Yesterday Domicile posted this on Instagram - appears the brochures ready to go!

Domicile Developments posted the above photo on Instagram yesterday which suggests that The Corners On Main is coming very soon. While no official dates have been announced we do know that it will be launched in 2015 and heard a rumour it will be sometime in the fall.

Located on Main Street between Oblate and Springhurst, and designed by Roderick Lahey Architect inc. Two six storey buildings, each with 70 residential units, plus roof top terraces, and amenities plus quality that you would expect from Domicile. Expected completion date of Fall/Winter of 2017. 

Interested in learning more? Fill out the form below to contact Matt Richling about The Corners On Main.

Electronic Signatures Starting July 1st!

Word starting circulating late last night amongst the realtor crowd across Ontario that the wait for electronic signatures is finally over! After years of being told that electronic signatures were "coming soon" by different levels of government, starting July 1st we will be able to sign The Agreement Of Purchase And Sale (the main document to sell a property) digitally. No more scanning, no more driving around at a late hour or rushing for a last minute signature, no more faxing (well that was a given), no impossible to read documents from sending back and forth. 

I have been using electronic signatures for other documents (listing agreements, price reductions, etc) but now the full transaction could be signed digitally. Almost every client who has used this, prefers it. Saving the client time, and ensures no missed signatures or initials. As the client, you can read, review, and sign the document at your pace.

Real Estate 2.0 is here!

Tribeca Sales Update

Claridge Homes latest development in Centretown, Tribeca, is a "world-class complex in a world-class neighbourhood"(as per the sales website). A three phase project, consisting of two highrise towers connected by the podium that also features the third phase consisting of low rise loft units. 

Phase One is located at 179 Metcalfe, and has seen occupancy of the units and is now fully registered. They are currently 95% sold and available units range from $343,00 for a 753 sqft 1bed + Den, to $463,000 for a 971 sqft 2bed unit with 95 sqft terrace. Parking is an additional $35,000 per spot. Occupancy on these units can be quite fast, however finishes and upgrades have already been chosen. 

Phase Two is located at 40 Nepean St, and is currently at around 65% sold. You should be able to find the size and price point you are looking for with the remaining supply ranging from studio's up to larger 2 bedrooms.

Phase Three is about to be launched, but sounds pretty unique from the promotional material getting sent around.

The amenities for the project are quite exciting, featuring a full indoor salt water pool, kid splash pool, yoga studio, fitness room, private lounge, multimedia room, board room, four meeting rooms, two guest suites, concierge/security, visitor parking, Sobey's (Now Open!), and the nearly 7000sqft of landscaped terraces on the south side.

If you are interested in the Tribeca project, or would like more information on units that are currently for sale - contact Matt Richling (salesperson with RE/MAX Metro City Realty) by filling out the form below or by email Matt@MattRichling.com. 

CLICK TO GET MORE INFORMATION

Tribeca Sales Updates

Windmill Developments Launch of Zibi - Welcome "O" Sales and Launch Recap

This past Saturday saw the initial launch of the first phase of Windmill's Zibi Development located around the Chaudiere Falls. The first six storey building named "O" has 66 units, ranging from a 478sqft studio, up to a 1,393 sqft three bedroom unit. The second six storey building will be called "O2"  will have 75 units. Occupancy for phase one is expected in late spring 2017. The largest factor to keep in mind is that these buildings are located on the Gatineau side of the river. Anyone who is looking to reside in the building would be subject to Quebec income tax, subject to Quebec health care, among other differences from Ontario - this is an important difference that every Ontario buyer should note. 

All in - Saturdays launch is considered a success, with a large chunk of units reserved and large amounts of visitors to the sales centre. Initial numbers point at about 41% of units were reserved on Saturday, but these are still subject to a 10-day cooling off period.

For price list, floor plans, other documentation, or just for general information - fill out the form below or contact Matt Richling (salesperson at RE/MAX Metro City Realty) directly at Matt@MattRichling.com

Lofts at Tribeca - Coming Soon

The Lofts at Tribeca, the "third" phase of the Tribeca project built by local Claridge Homes is getting ready for launch. No set launch date, but we are told, larger open, home-like units that will built into the podium that connects the Tribeca Towers (179 Metcalfe and 40 Nepean). 

Will post more information as it comes available. If you are interested or have a question about this project or living downtown - fill out the form below.

CONTACT MATT RICHLING

Lofts at Tribeca

SOBA Condos - Construction Update

Checked out the progress of the Lamb Development project, SoBA. This is how it sat since they pulled an old tank out of the ground (click for video) on April 1st. No word yet on what exactly they found or how it will impact timing and no word from Lamb on when they expect construction to officially start.

Located at 203 Catherine st. in Centretown, the 23 storey, 240 unit building was set for completion late 2016. Fill out the form below if you are looking for more information on units currently available.

**For more information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

Tribeca Sobey's NOW OPEN!

Centertown has just stepped up another notch with the addition of a well needed grocery store. Sobey's 2,400 square metre store has now opened in the ground floor of Claridge's Tribeca at the corner of Metcalfe street and Slater. Hours are 7am till 11pm seven days a week. There is underground visitor parking for those from outside the building (140 visitor spots in total).

Looking to live in the downtown core and have a grocery store just an elevator ride away? I would love to help you out!

Zibi by Windmill - Launching May 30th

Just announced, Windmill's next condominium building will be launched next weekend. Highly anticipated, this launch is the first for the Chaudiere Falls multi-phase future development with a mix of residential housing types of low and high rise condominium towers and townhomes, commercial and office space, unique waterfront plazas and outdoor squares, recreational facilities, and more.

There are only 65 condo units available with pricing starting from $199,000. Starting at 10am until 4pm on the 30th of May at the "state-of-the-art" sales center at 3 Rue Eddy in Gatineau.  Windmill has come out and said they will be offering "opening-day incentives".

From the Zibi website: The Chaudière Falls have long been a gathering place where the remarkable occurs. Long before settlers arrived, First Nations gathered at the Falls, trading stories of the River, and making offerings at the Falls. In 1799, after several reconnaissance missions, Philemon Wright determined that this location was the best spot in the Ottawa Valley to settle, creating a community at this very location. ‘Big’ Jos Montferrand later made history crossing the Union Bridge, providing inspiration to hundreds of thousands. Years later E.B. (Ezra Butler) Eddy and John Rodulphus Booth both became Canada’s early entrepreneur stars, innovating and inspiring, and employing thousands.

To request an appointment or to learn more about the project contact me using the form below, or contact Windmill sales center directly.

The Bronson - Likely 70% an Apartment Building says Lamb

As quoted in last weeks Ottawa Business Journal, Brad Lamb has confirmed that "there is about a 70 per cent chance that his company, Lamb Development Corp., will either market the 19-storey, mixed-used tower as an apartment complex itself or sell it to another institutional investor, which will then reap the long-term rewards of rental income."

The article speaks about the increasing rental market across Canada - "Toronto, which has more than 20 apartment projects under way, but many housing analysts say it’s only a matter of time before things pick up here [in Ottawa]." Citing reasons such as low interest rates that make construction cheaper, a current condo market, rising rents and higher home prices, along with a lack of high quality (condo-like) rentals.

What does this mean for single investors who purchase pre-construction units to rent out?
 

SOHO Champagne - Occupancy Granted

SOHO Champagne, the third building for Mastercraft Starwood here in Ottawa, has now started occupancy. Currently the lowest floors have access, while the majority of the building is still being completed. Currently there are units available in the building between $298k and just under $1M. The building is located at 111 Champagne ave, just between Preston and Dow's Lake.

We got a first look at these units over the weekend, and while the amenity spaces are still under construction, the unit finishes are what would be expected with the Mastercraft Starwood name. Currently the parking garage and gym are expecting to be completed by April 30th, with the grand lobby to be completed by May 30th.

View looking north from SOHO Champagne higher floor.

Any questions about the SOHO brand or SOHO Champagne specific condos? I would love to chat.

CLICK HERE TO CONTACT MATT RICHLING

SOHO Champagne

Gotham Occupancy Granted

As of yesterday, Gotham Ottawa has officially granted access for the units on floors 2-14, with floors 15 and 16 delayed another week. Gotham has seen a number of occupancy delays leading up to this point. Majority of the building now has occupancy and has keys in hand. The lobby and parking are still being finished, however the concierge/security is at the lobby 24/7.

We are starting to see more units in the building come up for sale and for rent. Including this Glasshouse unit on the 5th floor.

For more information about Gotham or other Brad Lamb Condominiums here in Ottawa, CLICK HERE to contact Matt Richling.

SoBa Ottawa - Live Stream of Construction Progress

**For updated information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

For those unable to drive by to see the progress of the construction at SoBa on Catherine Street, Jimmy Joners currently has set up a live stream of the site. 

Questions about SoBA or Lamb Development? I would love to help get you an answer.

Genworth's Metropolitan Condo Outlook - Winter 2015

Genworth and the Conference Board of Canada has released the 2015 winter edition of its apartment condominium study that looks at eight metropolitan areas, including Ottawa.

For the full report and in depth look into Ottawa and the other areas, click here.

"Although inventories remained high in 2014, Ottawa apartment building permits nearly doubled during the six months to December 2014 compared with their year-earlier levels. As a result, the new apartment condominium market is set to pick up again in 2015, with starts forecast to increase by 9.9 per cent. In fact, construction is already under way on a number of new buildings this year, including The Bowery condominiums and Claridge’s Icon condominiums in Little Italy. The Icon condominium building will be Ottawa’s tallest. But this title may not last long. A new development proposed by Richcraft Homes, also in the Little Italy neighbourhood, would see the construction of three new towers, the biggest of which would be 55 storeys tall. Starts are expected to keep rising from 2016 to 2019, growing by a forecast average of 1.2 per cent per year. Absorptions are set to decline this year and next, albeit from a 2014 record high, and then begin to rise through the next few years, helping to whittle down inventories." - taken from the report.

The Bronson - Cancelled? Sold? Rentals?!

In a recent Globe and Mail article it was mentioned that Lamb Development has sold the "$90-million condo project... to an investor". The article implies that Brad Lamb sold the building to an investor who is turning the project into a rental building. Bronson is/was located at 196 Bronson Ave.

Digging further, Fortress Real Developments has announced that the development team submitted a revised development application for Bronson back in October for review by the city. "The 21 storey, 212 unit apartment project is currently being contemplated as a rental as opposed to a condominium." as per their website.

Stay tuned!

View the Globe and Mail article HERE. Excerpt "Even Toronto’s “condo king” Brad Lamb has turned to the rental market, recently selling a $90-million condo project called the Bronson in Ottawa to an investor. When Mr. Lamb unveiled the project in 2013, Ottawa’s condo market was booming, but it has cooled off amid a glut of new construction. “By the time we had closed on the project the market had shifted significantly,” said Ben Myers of Fortress Real Developments, which was financing the project. “A lot of projects came in on a few years and it was just too much.” -