Blog — Matt Richling - Ottawa Condos and Lofts - Ottawa Real Estate For Sale

Matt Richling is a licensed Salesperson with RE/MAX Hallmark Realty Group.

Pre Construction

Smart House Project Cancelled

smarthouse-ottawa-facebook.jpg

Rumours about the fate of the micro condo building have been circulating since the beginning of the month and we finally got the official word late last week. Urban Capital has decided that Smart House will be cancelled and turned into a rental building. For those who have purchased, deposits are being returned. There is no information behind who is involved with the rental building, but we do know that it will not be sold unit by unit.

Urban Capital will now turn the focus to the upcoming James Street Pub building which we expect to be launched late spring or summer 2016 at the earliest.

Questions about buying pre-construction condos in Ottawa? Fill out the form below, I would love to chat.

Condomania - Minto Offering Big Incentives

CondoMania Ottawa

Offering discounts of up to $50,000 on select units, Minto is making it more attractive than ever to purchase a unit at one of their developments. Only a few units are included (or should we say remain) with more expected to be available during the one day event. Dubbed "CondoMania", Minto is holding a sale at the Glebe Bank street sales office on Saturday October 24th at Noon till 6pm. The projects included are Lansdowne, Beechwood, and Upperwest! In addition to the up to $50,000 savings, buyers also will receive free parking and locker PLUS a pair of RedBlacks 2016 season tickets. 

For more information about the three developments, or to see sample units and pricing click here. If you are looking for assistance with purchase, fill out the form below - I would love to help.

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.

When Do I Have To Pay The Deposit?

Deposit structure ottawa condos.jpg

Question: When do I have to pay the deposit when I am purchasing a pre-construction condo through the developer?

Every condominium project in Ottawa will have a different deposit structure, however the typical deposit required is 20% paid in four instalments.

Example based on a $350,000 purchase price:

At time of signing - $5,000 
30 days from signing - Balance up to 5% - $12,500
90 days from signing - Another 5% - $17,500
180 days from signing - Another 5% - $17,500
Occupancy - Another 5% - $17,500

Total paid is the 20% deposit which (based on $350,000 purchase price) is $70,000.

Keep in mind that every condo development is different, and the deposit structure even might change from initial launch to nearing completion. Builders typically require higher deposits at the beginning of a project, as the bank that is financing the building will have set out requirements in order to start construction. As the project gets underway, the developer typically has more room to negotiate amounts and dates, with extensions or even reducing the amounts. 

Have a question about deposits or purchasing a pre construction condo here in Ottawa? I would love to chat!

What Is The Ten Day Cooling Off Period?

pre construction cooling off period Ottawa

As per the Ontario Condominium Act, each developer has certain restrictions and rules to follow that are in place protect you, the consumer. When you buy a newly-built condo direct from the developer, you have the right to cancel the purchase within a 10 calendar day cooling-off period. This was put in place so when on launch day you get all caught up in the hype and excitement, you are still able to make sure you don't have any buyers remorse. Just remember that there is no cooling off period on re-sale condominiums.

Things to be aware of:
- The clock on the 10 day period starts from the time you receive a copy of the fully signed purchase and sale agreement OR the disclosure statement, which ever comes later.
- You also have the right to cancel a sales agreement within 10 days after any "material change" (significant change) to the disclosure statement.
- If you decide to cancel, the developer must refund any deposit plus any interest that may be payable.
- A developer is not able to terminate your purchase and sale agreement without your consent or a court order.

During the 10 day cooling off period we highly suggest that you:
- Have your lawyer to review the agreement and discuss any concerns that you might have about the purchase or the agreement. This is the time to request any changes to the agreement, not once the cooling off period is over.
- Speak to your mortgage broker and ensure you are pre-approved for the purchase. Keep in mind the closing date and get in writing that they are able to do a rate hold till your closing. Not all mortgage brokers and banks are able to do long rate holds for pre-construction condos in Ottawa.

More questions? I would love to help you find the answer! Contact Matt.

The Bronson - Cancelled? Sold? Rentals?!

Bronson Condos Ottawa Rental
Bronson Ottawa Condo

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.” - 

Gotham - Occupancy Delay

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Owners of Gotham (224 Lyon) received notification from Lamb Development this morning of another delay in firm occupancy. Owners on the lower floors were expecting the occupancy as of March 24th, but notified today that it is pushed back till April 1st (some higher floors are reporting similar delays). 

As is in the notice "Due to some unexpected and additional items identified as required for occupancy by various City Inspectors on Thursday of this week (that will take 5-10 days for the site to complete,) we are giving you a revised firm occupancy date of 1 April 2015."

Lamb Development faced two large and unfortunate set backs during construction by outside trades that have held up completion of the building. They stand by the product, with Brad Lamb saying that "Gotham will be Ottawa's finest residence."

Questions about Gotham condos in Ottawa? 

Gotham Showcases Modern Industrial In Four Models - Ottawa Citizen

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The Ottawa Citizen looks at the four models that are opening to the public tomorrow March 14th, inside the Gotham Condos. Of the 240 units in the building, only 40 suites remain, with pricing starting at $262,900 up to $451,900. Built by Lamb Development, the building is starting occupancy March 24th, 2015. Questions about Gotham? I would love to help.


Gotham Showcases Modern Industrual In Four Models
Patrick Langston - Ottawa Citizen
March 13, 2015 

Condo buyers anxious for a taste of life at Lamb Development’s much-anticipated Gotham — a name that evokes robust images of both New York City and Batman — can do so Saturday when four model suites open to the public.

The models, ranging from 497 to 922 square feet, feature strong industrial accents such as exposed concrete as well as generous glazing and contemporary decor.

The 17-storey building of glass, steel and black brick towers over a mostly low-rise neighbourhood at the corner of Gloucester and Lyon streets.

The project has sold well since it launched four years ago: only 40 of its 240 units remain available, and the builder may keep some of those unsold condos as rentals. Penthouses and “glasshouses” (spectacular, glass-enclosed units) have all sold.

Construction was slowed by this winter’s extreme cold, but company president Brad Lamb says buyers are expected to take occupancy by March 24.

The remaining units will be sold four at a time, and there will always be a quartet of model suites for viewing. Lamb calls the approach a “patient” way of selling. Keeping your customers a little hungry is also a smart way of selling.

Available suites at the time of writing range from $262,900 to $451,900.

The model suites embody the company’s fondness for contemporary, industrial-tinged design, according to Lamb.

“We want to be edgier in all our units: we use exposed concrete; nine-foot ceilings, sometimes higher; modern, clean finishes. We don’t want anything historically oriented; it’s always to the future.”

Lamb says the models target Ottawa’s main condo market: young singles, young couples, the occasional 50-plus pair without children. 

“Our goal is to deliver in every market the best units in the middle-class range.”

The project will include seven condo townhomes with private patios and 20-foot-plus ceilings in the living/dining rooms. Five of the seven homes have sold.

The models

Loft 08/09: The one-bedroom, 497-square-foot unit may be the smallest of the four models but, like all the condos at Gotham, the shotgun-style layout captures some of the great outdoors thanks to the wall of glass in the living/dining/kitchen area. The expanse of glazing includes a patio door leading to the standard-issue balcony with its gas barbecue hookup.

The kitchen features stainless-steel appliances including a gas stove, and the sleek, white Euro-style cabinetry matches the quartz countertop. The finishes in the models are all standard features, says Lamb.

The bath and bedroom, the latter with three walls only and simply decorated to reduce clutter, sit between the entry and the main living area.

An exposed concrete wall runs the length of the model, which is priced at $262,900.

Loft 10: With both a den and a bedroom, this unit maxes out its modest 648 square feet.

The den, just off the entry, sets the contemporary tone with its exposed concrete wall, black-and-white photo of a manual typewriter, and a metal-and-glass floor lamp.

A round wooden table set with white candles and surrounded by wood and-blue fabric chairs lends warmth to the living area with its one concrete wall and ceiling that are Lamb standards.

The bedroom’s sliding, frosted-glass door would provide privacy if you had a guest sleeping on a pull-out couch in the adjacent living room.

This unit is $317,900.

Loft 11/12: Another bedroom-plus-den unit, but at 751 square feet, this one has extras such as a four-piece bath with access from both the bedroom and den.

The kitchen, which is just off the foyer, has an elegant feel thanks to the blend of charcoal grey cabinetry and white countertops.

“I think we build the most beautiful washrooms and kitchens in any market,” says Lamb. “They’re like art.”

The suite, which sells for $357,900, features dark wood flooring and striking furniture, like a metal and timber credenza.

Loft 07: At 922 square feet, this unit has room for a den, a bedroom large enough for a compact tub chair in one corner, a four-piece ensuite with an undermount sink, and, just off the foyer, a powder room.

Contemporary reigns in the living area with metal basket dining chairs, a gleaming white laminate credenza, and low-slung steel and fabric easy chairs.

The kitchen sports a large island with a double, undermount sink and contemporary fixtures. The backsplash is light grey subway tile.

The unit costs $451,900.

In the area

It’s a short walk to everything from Bank Street’s restaurants and stores to parks like the one overlooking the National Library of Canada. For those with a green thumb, there are a couple of nearby community gardens, including one at Nanny Goat Hill at Laurier and Bronson.

Gotham

What: 240 condo units in a 17-storey downtown tower. Also an adjacent seven-unit townhome condo development.

Builder: Lamb Development Corporation

Prices: Apartments that will be available as of Saturday start at $262,900. Condo fees: 42 cents a square foot. Parking, $35,900.

Sales centre: 224 Lyon St.

Hours: Monday to Wednesday, noon to 6 p.m.; Thursday, 3 to 8 p.m.; weekends, noon to 5 p.m. Closed Fridays. (Model viewings by appointment only.)

Information: 613-257-8887gothamottawa.com

Bowery - Construction and Sales Update

Bowery Condos Ottawa Construction

Construction is underway at The Bowery Condos (255 Bay St) by Richcraft Group. Crane was delivered on site a short while back and crews are currently pouring the lowest parking level, P4.

Currently sitting at just over 25% sold, with an expected occupancy date of late 2016 for the lowest floor to mid to late 2017 for the penthouses. Some of the units are now sold out completely (the S4 studio unit, penthouses), while some have limited availability (S1, S2, S3, O2, O3, F4) on the lowest floors. 

Question about The Bowery Condos? 

Gotham - Building Update

Gotham Ottawa Condos Lyon
Gotham Ottawa Condo Exterior 224 Lyon

Lots of activity on site (224 Lyon st) getting ready for the first occupancy date of March 24. Today the appliances for the 9-13th floors being delivered, and the exterior construction elevator was being taken down. While there is still some exterior brickwork to be finished, some of the on-site crew has said that the majority of the units are mostly completed and ready to go, only a few exterior and common areas that still need last bit of work.

Any questions, I would love to chat! Click here to talk.

Domicile Names Main Street Project: The Corners On Main

The Corners On Main Domicile Condos Ottawa

Domicile has announced that the project located at 141 Main Street will officially be called "The Corners On Main". Announced through Facebook and on Twitter, the local Ottawa builder also linked to the promotional page which includes some history on the location. See the Domicile page here, or check out our write up.

The Corners On Main Logo Condos

The Corners On Main is/was planned to start selling early 2015, with occupancy planned for 2017. Phase one and phase two each plan to include 70 units ranging from 600 to 1250sqft, 140 total units plus commercial space.

Domicile Ottawa The Corners On Main Condos

Tamarack Wellington - Construction Update

Tamarack Wellington Ottawa Condo Construction

Tamarack Home's newest building Tamarack Wellington, a 52 unit, six floor building, designed by Barry J. Hobin, will be starting construction this Monday, March 9th. Located at 1140 Wellington Street West, the building is set for completion mid 2016. Currently 37% sold out, with floor plans across every floor still available.

Here is the full memo released by Tamarack:

WEEK OF MARCH 2ND, 2015 - BREAKING GROUND

Overview:
After overcoming some final hurdles to obtain our Building Permit, we are now officially ready to start Construction! Taggart Construction has mobilized on site and are completing some exploratory work in preparation to commence shoring and excavation work next week.

On Monday March 9th, our shoring contractor will begin to drill and install piles along the perimeter of the site. You will see a large drill rig on site that will be used to drill and drive the piles into the earth. As we install the piles, we will be removing earth and installing lagging to support the extent of the excavation. This portion of the work will take roughly 2-3 weeks to complete.

What to expect during this stage of construction?

-Increased site activity. You will see delivery trucks, equipment being delivered, and increased activity of individual workers on Site. Safety is our number one priority. We will ensure that every truck entering and leaving the site does so with traffic control present.

-Noise caused by drilling and driving piles into the earth will be evident. This is typical construction practice and should not disrupt daily activity for nearby residents and businesses. Noise will only be heard during conventional hours of Construction (7am-5pm).

-Removal of earth will be ongoing but infrequent. Due to the infrequency of loads traffic should not be impacted.

-Removal of trees – We are required to remove four existing trees at the east end of our property, bordering the Grace Hospital. We will be replacing these trees with a mix of new species that will enhance the natural landscape of the area.

What’s next?

-Installation of Site Servicing at the east end of our Site is schedule to commence on March 23rd. We will update the blog as dates become firm.

-Line drilling and rock blasting is scheduled to commence on March 30th. We will be sharing a detailed blasting schedule and blasting protocol as we approach this stage of the work.

Thank you all for your ongoing patience and support!

Sincerely,
Tamarack Wellington Construction Team

What Is Interim Occupancy? And What Are These Fees?

Gotham Condo in Ottawa that is under construction.

Gotham Condo in Ottawa that is under construction.

Typically when you purchase a pre-construction condominium here in Ottawa you will be given two different dates, the interim occupancy date and the closing date.  Let's try and explain the difference between the two and what how exactly they come up with the fee amount.

The Closing Date and Interim Occupancy?

The closing date is when the ownership of the condominium unit is registered and transfered over to the buyer (you) from the builder. This registration cannot take place until all the units in the condominium building have reached a degree of construction (as set out in the regulations of the Condo Act).  However, before the building is registered many of the units will be substantially complete and will already have obtained the occupancy permits from the city. This allows the builder to move the owners in, without the owner having ownership of the unit. It is standard for a developer to require the buyer to take occupancy before the buyer gets ownership, and will be written out in the agreement of purchase and sale.

 Fee?

Section 80(4) of the Condo Act allows a developer to charge a monthly occupancy fee to the buyer upon occupancy of the condo unit. The monthly fee may include;

- Interest on the balance of the purchase price at the rate of interest that the bank of Canada has most recently reported as the chartered bank rate for a conventional one year mortgage rate.
- An amount reasonably estimated (on a monthly basis) for municipal taxes, for that unit.
- The projected monthly common expenses contribution, for that unit.

Essentially it is roughly what you would be paying, but just to the builder. None of these fees goes against your mortgage, property taxes etc. Keep in mind that you are not the legal owner of the condo unit yet, and there is no condo corporation to pay any fees to. 

Your Rights During Occupancy

During the interim occupancy period, the developer has a number of rules (as per section 80(6) of the Condo Act) that they have to follow and that the buyer must follow. These include:

- The developer shall repair and maintain the property and the unit in the same manner as the future condo corporation, which will maintain the building and units after registration of the corporation.
- The developer may withhold consent to an assignment of the right to occupy the unit.
- The developer may charge a reasonable fee for consenting to any assignment of the occupancy.
- The developer must (within 30 days of registration), notify the buyer in writing of the date and information of the registration, (unless the buyer receives a registrable deed to the unit).
- The buyer is able to pay the entire balance of the purchase price, on the date of interim occupancy, in order to reduce or eliminate the interest component of the monthly occupancy fee that the developer can charge.

Do you have a specific question about occupancy and interim occupancy fees? I would love to chat! 

Richcraft Joins The Tallest Condo in Ottawa Battle!

Richcraft Little Italy Towers

Next week Richcraft is going to be in front of the planning committee to get approval for the tallest condo building in Ottawa. The building will be located at 845 Carling, one of three buildings they are hoping to construct on the site which is the old Dow's Honda location. 

From Ottawa Citizen Article

From Ottawa Citizen Article

Currently approved and now under construction, Claridge's Icon holds (or will hold?!) the title for tallest condo building in Ottawa sitting at 45 storeys. Richcraft is hoping for a 55 storey(180 meters) building, along side a 45 storey (148 meters) and 18 storey (66 meters) sister towers, all containing approximately 1120 units, with 6,800 sq meters of ground floor commercial space.  Currently the entire Carling/Preston area is zoned for 31 storeys, which was approved last summer.

The main issue at this point seems to be over parking. Minimum parking for the complex is 675 residential spaces (91 commercial), however Richcraft is looking for an extra 100 spaces (766 in total plus the 91 commercial). The builder is also looking for an increase in bicycle parking spots to 566. Plus this complex will have direct access to the O-Train's Carling station, raising questions as to why the extra spots. 

Little Italy Richcraft Tower

Link to the Zoning Amendment

Link to the Wind Study

Any questions about pre-construction condos? I would love to chat!

Claridge Icon - Construction Started - Sales Update

Photo from Claridge Icon Facebook Page

Photo from Claridge Icon Facebook Page

Claridge Icon Construction 2.jpg

Construction has officially started on the Claridge's Little Italy tower, Icon. Currently the tallest to condo tower in Ottawa at 45 storeys and 420 feet high (until Richcraft steals the title), which will see construction continue for the next four years (December 3rd, 2018).

Currently with about 25% sold, or about 80 units, Claridge is very confident that with the amount of time to build the project, they will have no issue in selling all of the units.

For more information on the project, visit the website ClaridgeIcon.com.

If you have any questions about this project, or pre-construction condos in Ottawa, click the button below.

SoBa Update + Final Pre-Construction Sale

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

Lamb Development Corp has officially announced date for the start of construction. Starting on March 1st, the sales office will close and construction will begin. Currently the building is at 86% sold out, with a good selection of units still remaining. In order to start the next phase with a bang, Lamb is offering a "Final Pre-Construction Promo" of up to $50,000 off prices depending on the size of the unit. Official amount ranges from $13,000 for the smallest unit, up to $50,000 off for the penthouse unit.

Interested in getting more information about SoBa condo units, or purchasing a condo in Ottawa? Let's chat!

Claridge ICON - Building Update

Claridge Icon Tweet

Yesterday Claridge Condos tweeted that "Our #ClaridgeIcon sales centre has moved to 200 Lett Steet. BRING ON CONSTRUCTION!" This is great news for those standing behind the future tallest tower (45 stories or 420ft) of Ottawa. Quoted in a recent Ottawa Citizen article, Bill Malhotra (founder and president of Claridge Homes) said that 71 of the 320 units (22%) in ICON have sold, which includes half of the penthouse units. 

ICON will be located at Preston and Carling, where Little Italy meets Dow's Lake. The building will house a restaurant on the main floor; the next two levels will be Claridge offices; and there will be a party room, yoga room, guest suites, a billiard room and a swimming pool for residents. 

Construction is set to start December 1st, 2014. Occupancy is set for December 3rd, 2018. 

NUOVO - Building Cancelled

Nuovo Condos Ottawa

With the recent slowing of sales, Domicile has decided to cancel their newest Little Italy condo building, NUOVO. We last posted that sales for the building were sitting at 20%, they had signed La Bottega Nicastro to be a grocer in the main floor, and they were pushing to start digging March of 2015. However with the amount unsold, and with the number of buildings launched and under construction in the area, they had to make a choice. Over the last few days, deposits for the units have been returned, the website has been taken down, and all mention of the project has been removed from their website.

We are a fan of Domicile; their quality of work, and the customer service is top notch. They have said that they will be focusing on the next project on Main Street. 

Below was the overview of the interactive application that was inside the NUOVO sales centre.


Tips For Doing Your Condo's PDI Inspection

You have been waiting (possibly up to three years) for this day, congratulations you can see your condo in real life for the first time! The PDI or pre-delivery inspection is an opportunity for you to walk through the condo with the builders representative before you take occupancy. The main purpose of the PDI is for you and the builder to make a list of deficiencies before you move in. This could be anything that is damaged, incomplete, missing items, as well as anything that is not functioning the way it is intended. Here are a few tips that you can use to help get the most out of your PDI!

- Be nice with the developers representative. Typically, they are the one who does all the PDI's for the building and will really be able to tell you what has to still be done. They are usually very picky, so make it easy for them help you. 

- Be picky. While the developers representative works for the builder, they will generally be blunt with you depending on what the deficiency is. They will either say that is not something that the builder will repair/replace/etc, or they will. 

- Don't rush! This is your time, and your PDI. Don't let the representative rush you, but also don't take up their whole day. Get to the appointment early and be prepared.

- Look at every room, but the most important is the kitchen and then the bathrooms. This is where your condo has the most moving parts, and has more things to be installed incorrectly.

- Details! Turn on every faucet, flush every toilet, close every door, inspect every wall, open every cabinet. Anything could have been installed incorrectly, so don't be afraid to point something out.

- Bring someone with you. The more eyes the better! Bring your agent (especially if you are planning on renting it out, or selling it shortly after), friend, parents, etc.

- Don't hire a home inspector for an apartment style condo PDI. Home inspectors are not trained to inspect brand new condos, they are trained to find problems in old homes. Save the $300-500.

- Read your APS (Agreement of Purchase and Sale) again before your PDI. There will be numerous schedules, like the one for finishes and features. Compare what you see with what was promised you, and make sure you are getting what is agreed.

- If you missed something during the PDI, you still have the 30-day Tarion form. After you take possession, if you find a 'deficiency' you can use your 30-day form to go through Tarion.

- Pick your battles. If you do have deficiencies with your Ottawa condo after you take possession (and many will), pick your battles carefully and focus on the most important issues. Understand you are most likely never going to have a 100% perfect unit.

- Bring a tape measure and flashlight. While you will have the builders floor plan as a guide for furniture, this is your chance to see exactly how much space you have for the couch, dining table or bed. Remember that the builder is allowed to modify space to a small degree, so it might change from the original plan. Sometimes the power might be off, if the builder is working on a certain part of the building, so having a flashlight just incase doesn't hurt! (Thanks to jcphoenix for the flashlight tip!)

Do you have questions about PDI's, or purchasing a condo? I would love to help.


Written by Matt Richling.

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home or condo that fits their lifestyle. 

Smart House Ottawa - Floorplans

Smart House Ottawa, is claiming to be Ottawa's first micro condo building, with the largest units coming in at 586sqft for a two bedroom. Below are three out of the 18 units that are for sale in the building. 


Smart House Ottawa, suite A1, by Urban Capital

Above is the A1 unit, which at 315sqft is the smallest suite in the building. Its launch price starts at $179,900.


The C1 unit, which is the one bedroom and den, inside Smart House Ottawa.

Above is the 519sqft C1 unit, which is the only one bedroom plus den floorplan in the building, starting at $314,900.


The D1 unit, the smallest two bedroom inside Smart House Ottawa.

Above is the 507sqft D1 unit, which is the smallest two bedroom in the building, starting at $275,900.


If you are looking for more information on Smart House Ottawa, check out the Smart House Ottawa landing page HERE