February 2019 - Ottawa's CondominiumsOttawa's Condominiums

Monthly Archives: February 2019

Feb

New Ottawa Condo Development | Royale Condo Ottawa

Royale Condo Ottawa is a new Ottawa condo development currently in pre construction by Claridge Homes in the Byward Market. The development will include 220 units in a 26 storey high-rise building.

Suites at Royale Condo Ottawa will include open concept kitchens with top appliances including a fridge, stove, microwave and dishwasher. Units will also feature expansive windows and individually-controlled seasonal heating and cooling for your year-round personal comfort. In-suite laundry with stackable washer and dryer will also be an added bonus.

Some amenities expected at Royale Condo Ottawa are a boutique gym, business centre, lounge room, indoor pool that is heated year-round and two overnight guest suites.

Royale Condo Ottawa Neighbourhood Guide

Royale Condo Ottawa is located in the Byward Market. Ottawa’s ByWard Market is one of Canada’s oldest markets, established in 1826. It is located in the heart of Ottawa’s downtown, with all the action centred in a six-block radius. Condominium buildings in the Market boast an ideal living experience for anyone from students to retired seniors. Only five minutes from the University of Ottawa, it is a perfect off-campus housing location for any student. Professionals living in the ByWard Market are only five minutes away from Ottawa’s downtown business core. The ByWard market is the place to sample all dining Ottawa has to offer. From pasta and pizza to seafood and shawarma, this market has it all. Aside from restaurants, the market itself has dozens of fresh produce stands and many specialty food shops. A 24-hour grocery store is also on site for anyone craving a midnight snack.

The Byward Market contains a vast majority of Ottawa’s nightlife and entertainment. It’s the perfect place to grab a drink during happy hour or celebrate a night out with friends at any, or many, of the bars, clubs, and pubs. The Market is also home to concert halls and the ByTowne Cinema. During the spring, summer, and fall the Market is flooded with many stands selling fresh produce, prepared food selections, clothing, flowers, and much more, making Royale Condo Ottawa a great location. Many boutiques allow for a diverse shopping selection. At the south end of the Byward Market lies the Rideau Centre, walking distance from Royale Condo Ottawa. This enclosed mall is home to more than 180 of Ottawa’s best stores and services. Finding a specific need is never a problem in the ByWard Market.

Residents of downtown Ottawa are never restricted to concrete streets. All neighbourhoods in Ottawa’s downtown centre offer the opportunity to experience the great outdoors while living the city. Surrounding Ottawa’s centre, nature enthusiasts will find many parks, trails, ski hills, and plenty of water. Compromising recreation is never a problem – especially with the gym in your condo building. The Market’s central location puts it 5 minutes from Ottawa’s bus station, 5 minutes from the VIA Rail train station, and 15 minutes from the Ottawa International airport. A large bulk of Ottawa’s bus roots run through the ByWard Market, making Royale Condo Ottawa within easy to access other areas of the city.

More Buildings in the Byward Market

Feb

Do you know the difference between a hard loft and a soft loft?

Hard Lofts

An authentic Hard Loft is a rare beast. Lofts in Ottawa are in short supply due to the nature of their origin. In order to fit this category, a former industrial or commercial use space must be converted into a residential living space. Out of this formula, some common elements arise. Old, often exposed brick, visible mechanical elements of the building such as pipes and beams, large windows and vaulted ceilings. The latter is the element from which a loft derives its name. A lofted ceiling that allows a living space to feel much larger than the square footage of the floor plan. Ceiling heights from 11 to16 ft are common.

Of special interest, will be the history of the building. The story that these conversions tell is almost as important as the design in conveying the style of the home. The original use, any subsequent commercial conversions and the date of the original construction, all contribute to setting the buildings apart. All of these factors naturally limit the height of the buildings, but not necessarily the amenities. There are Hard Lofts that also include common areas, fitness rooms and shared rooftop spaces. Of particular interest are buildings that have been reclaimed from the public domain such as schools and churches.

Soft Lofts

Soft Lofts are new builds designed to offer the space and style of a hard loft. The demand for hard lofts far exceeds availability and the costs associated with these one of a kind spaces, place them out of reach for many buyers. Here is where the Soft Loft comes to life. Builders, eager to fill the demand for open concept spaces, adopted the term loft and applied it to units which outside of the conversion elements, fit the design and style criteria of a loft.

More commonly found in low and mid-rise buildings, upper floors in high rise buildings may also have units that have been given a Soft Loft treatment. The popularity of the Soft Loft is growing along with the demand for higher ceilings, open floor plans and unique design elements. Luckily supply is high since the units are created with new builds, there is no limit on how many can hit a given market. However, due to the low supply Hard lofts are more likely to retain their value over time and suffer less vulnerability to market shifts.

One of the biggest bonuses of Soft Lofts is their inclusion in building projects that compete for best amenities. New build condos have to offer a wide and exciting range of amenities to attract potential buyers. Finding a soft loft in a building that also has the concierge, party rooms, pools, full-scale gym and rooftop BBQ’s is not uncommon. They are also not restricted by an existing structure. A soft loft can be built into any design or building, offering more options for style and layout. Developers will sometimes use the mixing of these elements. They design multiple building complexes, combining Condo units, Soft Lofts and Townhomes into a single project.

Here are our 3 favourite Hard Lofts in Ottawa: Studio Argyle, Wallis House and Warehouse Lofts

Studio Argyle:

Studio Argyle Condo Ottawa was built in 2000 by Domicile Developments. This unique low rise building contains 40 units spread out on 4 storeys. Studio Argyle Condo Ottawa is an eye-catching building with its prominent red brick and cream accents. Located in between Ottawa’s popular and well-known streets, Elgin Street and Bank Street, this building is in the heart of Ottawa’s Centretown. Enjoy a Sunday stroll down the Rideau Canal, or go afternoon shopping in the Glebe. Studio Argyle Condo Ottawa allows you easy access to Ottawa’s economic and social neighbourhoods. Perfect for the artsy modern student, professional or retiree these units are unique and stand out with their distinctive architecture. The lofts here are dramatic, pipe and/or brick exposed units with a feel you won’t find anywhere in Ottawa. Fireplaces in living areas, expansive outdoor terraces and gas in the kitchen and balconies make this building truly unique. Studio Argyle Condo Ottawa features a beautiful lobby with accent art pieces, elevator, underground and surfaced parking and private storage lockers.

Wallis House:

Wallis House Condo Ottawa is a classic heritage building unlike no other. Constructed in 1983 this building was originally one of Ottawa’s first modern hospitals. After the hospital closed in 1924 the building served as a seminary, barracks, veteran housing, an armoury and during the Second World War Canadian Military Soldiers occupied the building. In 1990, Wallis House Condo Ottawa was officially designated a Heritage Building by the City of Ottawa. Following this designation, Smallwood of Andrex Holdings in partnership with Wilberfoss Inc and Domicile acquired the property and converted the interior of the building to the current 46 authentic loft condominiums that were designed keeping in mind the Heritage significance of this amazing building. Cathedral ceilings, wide hallways, and soaring windows characterize each unit, which boast a New York-style loft feeling. Beautifully upgraded, 1-2 bedroom units feature exposed brick walls, exposed ducts, fireplaces, hardwood flooring, and open concept living, with many units featuring 2 storeys for trendy loft living. Building amenities include an exercise center, security, and a rooftop terrace. Located blocks from walking paths, parks and the Rideau River, yet is still within walking distance of everything downtown has to offer.

Warehouse Lofts:

Warehouse Lofts Condo Ottawa prior to it’s condo conversion, was a factory warehouse creating a variety of products of the years. In 2000 the building was converted into a condominium by retired Ottawa real estate lawyer, Craig Callen Jones. The condominium conversion project consisted of creating 30 open-concept unique lofts within the preexisting structure. The lofts feature inviting and well thought-out design accented by warm hardwood floors, high quality and creative built-ins, exposed brick walls, wood beams, and high cathedral ceilings! The beautiful timber beams used in the conversion project are a stand out in this building, setting it apart from other loft conversions in the city. Many units also feature exposed duct work, fire places, and beautiful staircases allowing for 2 storeys of authentic loft living. Enjoy living in Little Italy, steps away from some of Ottawa’s greatest restaurants, pubs and shops!

*Averages based off of a 5-year period

Here are our 3 favourite Soft Lofts in Ottawa: 150 Caroline Av, Lofts at Tribeca & The Dwell

150 Caroline Av:

Welcome to 150 Caroline Av Condo Ottawa, in the heart of Wellington Village. Built in 2004 by Routeburn this low rise building contains 40 units. They come in a variety of layouts containing 1 or 2 bedrooms. The units in this building offer a lofty feel with 9″ high ceilings & floor to ceiling windows, some even include natural gas or electric fireplaces. The Penthouse condos in this building boast 2 storeys for added space with 10″ high ceilings on the top level. Every unit contains 1 private balcony, many feature an additional private terrace, that features beautiful views of Ottawa and the Gatineau Hills. Amenities at 150 Caroline Av Condo Ottawa include elevators, fob security access at all exterior building doors, underground parking, visitors parking and storage lockers. There is even a Bridgehead Cafe on the main level of this great building, convenient for morning or afternoon coffees. Enjoy being in the heart of Wellington Village, shops, cafes and restaurants at your doorstep!

Lofts at Tribeca:

Lofts at Tribeca Condo Ottawa is one of Claridge Homes newest Developments. Located at 197 Lisgar St, Lofts at Tribeca Condo Ottawa is right in the heart of Centretown. Lofts at Tribeca Condo Ottawa have 1-2 bedroom lofts available to purchase, ranging in size from 900 sq ft to 1,435 sq ft. With an average price of $519/sq ft, you don’t need to give up quality or style for affordability. These modern industrial style lofts come with designer finishing packages and custom kitchens. The building holds 20 units spread over 2 stories. On the south side of the building, there is a landscaped terrace to enjoy the view of our nation’s capital. Residents of Lofts at Tribeca Condo Ottawa have access to all of the amenities located within Tribeca Condo Ottawa & Tribeca East Condo Ottawa. These buildings offer a recreational and fitness facility, including a gym, change rooms and swimming pool with kids splash pad. A community party room as well as separate meeting rooms and board rooms and 2 guest suites are also available to residents and their guests. There is also a fabulous rooftop terrace offering amazing views of Parliament Hill.

The Dwell:

The Dwell Condo Ottawa , built by Domicile in 2007, is a great urban loft building containing 35 units located in Centretown. Although located on a quiet, tree-lined street, this building is just steps from the hustle and bustle of Ottawa’s shops, restaurants, and bars. The units are characterized by high 12 ft ceilings, hardwood floors, gas fireplaces, large windows, central air, and balconies. A unique feature of this building is the units offer gas hook ups on private balconies for residents to use for their own personal bbqs. Underground parking, storage lockers, elevators, a bike room, and secure entrances are great features that this building offers. The Dwell Condo Ottawa is ideal, perfect for either relaxing or entertaining.

*Averages based off of a 5-year period

Feb

4 Tips to Rent the Condo of Your Dreams

Yes, the rental market is on fire! We’ve been hearing all over the country that rental inventory is low, and prices are on the rise. Everyone is focusing on this, while we should be looking at something far more important; tips to rent a condo in this market.

Before this rental boom, the old rental market was like the pace in Ottawa, slow and steady. You could afford to be 10 minutes late because most people would not notice. Now, the new rental market is like New York City: a city that never sleeps and moves at a breakneck pace… don’t be late.

Here are 4 Tips to Rent the Condo of Your Dreams:

Know what you want, but be flexible

Knowing is half the battle, the other half is doing. The same goes for the rental market. Far too often, we meet with clients who don’t know what they want. All they say is, “I want to rent a 1-bedroom condo”. Great, I’ll go find a needle out of a haystack while I’m at it. Point being, before you start looking for a condo, know exactly which neighbourhood you want to call home, have a short-list of buildings you like, get a good sense of what units rent for, and know when you need to move. Now that you’re all organized to start your search, you need to be flexible like a Slinky (click here if you don’t know what it is, you’ll thank me later). It’s super contradictory, but it’s the market we live in. A unit in your dream building may not be available for April 1st, or it may be available; just at a higher price, or it may not be available at all. Worst case, you may have to rent something that’s not perfect, but it’s only for 1 year. When it comes down to it, stick to what’s most important for your condo and for the rest, be like a Slinky!

Be Prepared

We’ve seen too many instances where clients have lost deals because they weren’t prepared. I know what you’re thinking, “Zev, it’s a rental. I don’t have to be prepared. We go see a unit and put an offer in, it’s simple”! And are right, it is simple. It is also simple to have a 6 pack, live an Instagram worthy life, and live on the beach for the rest of your life; it’s just not easy (ok fine, maybe beach life would be easy). It’s not easy because it takes a tremendous amount of work to east the right food consistently, do your hair and make up and find the perfect scene, lighting, and timing for that photo, and find the perfect spot to put your beach chair to enjoy the ocean sunset with your favorite cocktail (That one’s not hard).

Now apply the “It’s simple, but not easy” principle to finding a rental. Before you go looking at condos, ask your boss for your letter of employment (with your salary), get a copy of your full credit report, make sure you have enough for your first and last months deposit, and fill out the rental application. Do the hard work now and enjoy the sunset on the beach later.

Move like the Flash, Fast!

Remember when your parents told you the story of the tortoise and the hare? I can still hear my dad telling me “Zev, be the tortoise”. Let’s recreate the tortoise and the hare story in the context of the condo rental market. The tortoise is someone who looks on realtor.ca and ottawascondominiums.com periodically to find the perfect condo. They look at a new unit from time to time, ask to see a unit they like at their convenience, take a few days to figure out when to see the unit and think about putting an offer in for days. Fast forward to the hare. They are constantly checking new rental inventory through the internet, OC building alerts (shameless self-plug, but they really work), auto-searches, and hounding their agent for new units. When they see something they like, they book a showing same day and make a decision on the spot. Guess who wins? Finally, the hare!

All jokes aside, we hate when people put pressure on us, let alone our clients. This is a stressful process. There are units in certain buildings (TriBeCa) that get listed and rented in a matter of hours. We want you to have the full picture of the market so you can make the most informed decision. No one wants to lose their perfect condo by not knowing how fast the market moves. Fortunately, there are times when being the hare actually works, thank you Ottawa Rental Market!

Incentives

Full price offers don’t matter in this rental market. Chances are if you have followed the advice in this post, and you’re preparing an offer; someone else is too. Yay, multiple offers on rentals! When your fortunate (not really) enough to be in this situation, the Landlord has all the control in the world. They choose which offer they want. Now, before I go into details on incentives, I want you to debunk one myth. Myth: because my offer is exactly what the Landlord wants, I have perfect credit, and a great paying job; the Landlord will pick me. I had a client that had to learn this the hard way. We got into a multiple offer scenario and advised him on which incentive to use to get him the unit. He flat out refused to offer anything else. I asked him how come and he said, “Because I’m me and I’m a great tenant”. I don’t know if there is an emoji that can effectively sum up how I felt when he said that. Anyways, his offer didn’t get accepted. But, as it turns out, the advice I gave him was right and it was the exact same advice the other agent gave to their client who won the unit.

Ok, now that you have hopefully felt the excruciating pain of that story, here are my quick thoughts on what incentives to use.

First, move in date. If you are competing with someone else, chances are you can get a quick win by moving in as soon as the unit is available (especially if the move in date is in the middle of the month).

Second, add an extra few months or a year on to your lease term. This works well between November and February and when you find a sought-after unit in a popular building. No one likes looking for a condo rental or renting a condo in the winter. Inventory is low, tenant selection is lower, and you have to move in the snow. It’s a win-win for both parties.

Finally, money. I’ll save you listening to the theme song from the apprentice. Bottom line, every Landlord likes more money. Typically, a 1.5%-3.5% over ask offer should do the trick. You can mix and match these incentives as you please to get the unit you want. Sometimes it’s better to pay a little more for what you want. As one of my client’s famously said, “I’ve seen enough condos to know, that I don’t want to keep looking. I’m happy to do what it takes to get this condo”.

Overall, the rental market is going gangbusters and we don’t expect it to stop anytime soon. Please use this as a guide to help you navigate your search. Should you need any assistance finding a condo rental in Ottawa, feel free to reach out to one of our Condo Pros.

Feb

School House Loft Conversions in Ottawa

What is a hard loft?

The other criteria that must be filled is location. While this applies to every home and business, the trick with Hard Lofts is there must be underutilized or vacant industrial space near to an urban centre. Simply converting a vacant factory in the middle of nowhere, doesn’t have much appeal. Look for office, commercial and retail conversion as live workspaces to fill the gap in demand.

School House Loft Conversions In Ottawa

Here are a few lofts in Ottawa that have been converted from schools: School House Lofts, Powell Lofts, Ecole Guigues and Les Lofts du Montfort.

School House Lofts:

School House Lofts is located in the trendy neighbourhood of Hintonburg. This unique building was converted in 2009 from ‘Ecole du Sacre Coeur’ by The Regional Group and Douglas Hardie Architects, making it a hard-loft building style. School House Lofts has many unique features such as exposed brick walls, floor to ceiling windows and 12′ ceilings. The monthly condo fees include the caretaker, building insurance and management. The building has been tastefully updated in recent years to honour the original design. The windows were carefully built to match the originals and the preservation of the clay-tiled canopy at the building’s entrance are examples of the developer commitment to protecting original features. The units feature exposed ducts, exposed natural interior brick walls, in-unit laundry, hardwood flooring, granite countertops, balconies and large terraces. Underground parking and storage lockers are available with most units. In 2011, The Regional Group received the ‘Award of Excellence-Adaptive Use and Infill’ honour- issued by the Ottawa Architectural Conservation Awards.

Powell Lofts:

Powell Lofts Condo Ottawa is a schoolhouse loft conversion that was completed by highly regarded Charlesfort Developments in 2004. This development previously housed Borden Technical School before its conversion. It is located at 300 Powell Avenue in the Glebe Annex, just off of Bronson Avenue. These units are considered true hard lofts with high ceilings, industrial design, and exposed ductwork. The building offers elevator access as well as storage lockers. All of the units are very open concept and feature ensuite laundry. There are a variety of different floor plans available in this condo building, from spacious studio units to two-storey units – this building has something for everyone!

Ecole Guigues:

Built in 1905 and completely renovated in 1997, Ecole Guigues Condo Ottawa is truly a unique building. Having originally been built as a school called Ecole Guigues, this building is now modern, with a historic feel. At the original time of construction, Ecole Guigues was one of the largest schools in Ottawa. The land it was built on was previously the home to Francophone Roman Catholic schools since the mid-1800s. Due to the historical events that took place in and around Ecole Guigues Condo Ottawa the building is now seen as a symbol of Francophone language rights in Ontario. Jean Yves Pelletier, a historical consultant with the Provincial Government of the time, was quoted in an “Ottawa Citizen” article (1993) describing the building as, “One of the most powerful symbols in French Ontario today.” In 1980 Ecole Guigues Condo Ottawa was designated a heritage building. When the school was converted into a condominium the architect, Barry Padolsky, went with a very Richardsonian Romanesque style design. Mr. Parolsky was the recipient of the ‘Award of Excellence’ for restorative and reconstruction in 1997. The four storeys 14 unit building offers great views, a warm and cozy atmosphere, and a rooftop terrace. The loft-style units are exquisite with gleaming hardwood floors, high 12 ft ceilings, bright expanded windows, ceramic tile kitchen floors, fireplaces in the living rooms, and crown mouldings.

Les Lofts du Montfort:

Les Lofts du Montfort Condo Ottawa offers a unique opportunity to reside in the old 1912 Montfort school steps from restaurants, shops, minutes to downtown & biking trails. Converted into an intimate 15-unit condo in 1997 by Nicolini Construction, this building still showcases many of the original architectural features providing old world charm with modern day conveniences. Unique aspects of this building are original tin panelled 12’ ceilings, beautiful cove moulding, original refinished hardwood floors & exposed brick interior walls. The units also feature soaring windows and many have 2 balconies. Storage lockers & underground parking are available in this building. There is also convenient bike storage for all residents.

The average sale price of a one bedroom in these School House Loft Conversions in Ottawa is $337,991*.

The average price of a two-bedroom in these School House Loft Conversions in Ottawa is $412,479*.

*Averages based off of a 5-year period.

Feb

January 2019: Centretown Condo Development Update

For the last decade, Centretown has been the condo hub in Ottawa. Some of the most popular condos in Ottawa, such as The Mondrian, TriBeCa, Hideaway, Gotham and Cathedral Hill call Centretown home. However, in the last few years, condo development has predominantly shifted into Old Ottawa East, New Edinburgh, and Westboro.

There is only one new condo building built in the last 3 year, which is set to open this year. Thank you, SoBa! So, what exactly happened to the ever-growing skyline of Centertown? First, we have to go back 12 years ago to 2007. This was the start of the condo boom in Centretown when you could buy a unit in the Mondrian pre-construction for under $200,000! With pricing like that the condo market started to take shape. Every developer was starting to build and frantically looking for more land. Coming into 2009, everyone in the market was making money. Seller’s were naming their price and getting great ROI, Buyers were jockeying for position to get into these brand-new condos, and developers were in helicopters trying to find the next big plot of land. Then, 2011 hit…. Hard… Mike Tyson right hook, hard! The market absorbed all the condos it could at rising prices and then it stopped. That wasn’t good news for all those buyers in the last few years living in dreamland thinking how fast the market was growing and not thinking, “Hey, is this market real or is it going to crash?”. Compounding problems, developers were scheduled to build phases of towers i.e. TriBeCa East and TriBeCa West with a shrinking condo market. Until roughly 2017, most people in the condo market were trying to recover, wait for pricing to get back to what they paid for and then some, while developers were pushing to get rid of 100’s of condos. Fast forward to today. Pricing has mostly recovered and developers have sold out the majority of their inventory. Great news, right?… Not really. Now that the market is getting interesting again, there aren’t any new project’s coming on the market.

Don’t be worried, the team at OC has done some digging and we’ve found 3 projects that should be coming on the market soon!

Moon Condos

Ottawa’s biggest developer, Claridge Homes, has brought you some of the most popular condos in Ottawa, including Claridge Plaza Phase 1, 2, 3 and 4 and TriBeCa West, East and Lofts. They are currently building a purpose-built rental building on Lisgar (The Onyx) and have several plans for Centretown and the Byward Market. That said, they are going to be the first developer to bring a new project to the market in Centretown. Located on the corner of Albert and Lyon (yes, right next to Ottawa’s saviour, the LRT), Moon Condos is set to be built. The site will contain 3 towers, 2-27 storey towers and 1-9 storey tower. Moon Condos will be one of the 2-27 storey towers, with the other tower being purpose-built rentals. The project is being designed by Neuf Architects and will have ground floor retail space (fingers crossed for a Starbucks) and will feature amenity spaces throughout the building. The unit mix will vary from 422 sq ft studio units to 956 sq ft 2-bedroom units. The project is currently reviewing comments by the community and other stakeholders, but the sales centre is built and we expect sales to start this year. For more details on the project, click here.

: Moon Condo Ottawa – Future LRT Station

: Moon Condo Ottawa – Development Site

: Moon Condo Ottawa – Developers Application

180 Metcalfe St

180 Metcalfe St – Future Development Site

Arguably Centretown’s most popular condo building, TriBeCa has been a smashing hit with the market. If you want to live downtown there is no more convenient location with a grocery store in the lobby of the building, and steps to Elgin St. What more can you ask for? (A Starbucks? Great idea, just walk to the corner of Elgin and Lisgar and pick up your venti chai latte with extra whip!). Next door to TriBeCa is an art deco style heritage building called the Medical Arts building. It has some of the most amazing architecture but looks worn out. Recently, Jadco bought the building and the massive parking lot in the back is planning something special! They have proposed to keep the existing building, build out the back of the building to have 6 floors of commercial space, likely retail and office, and then construct a 27-story tower of residential. RMA Architects have assisted with the planning and the unit mix varies from 347 sq ft studio’s to 952 sq ft 2-bedroom units. The layouts from the plans to the city look quite promising. A Heritage permit was issued on October 12^th, 2018, which means this project will likely go ahead with construction in the next 12-24 months. Unfortunately for all you condo buyers out there, it looks like the building will be designated as a purpose-built rental. Either way, this project is sure to wow all in Centretown. For more details on the project, click here.

267 O’Connor

267 O’Connor Development Site

SoHo isn’t just the name of a famous neighbourhood in New York City. It’s also the brand name of condos that Mastercraft Starwood has brought to Ottawa. The people that brought you SoHo Lisgar, SoHo Parkdale, and SoHo Champagne are looking to replicate their success with a second condo in Centretown. Located on the corner on O’Connor and Gilmour, the site is primed for redevelopment and would give that part of the neighbourhood a much-needed facelift. The project is proposing 2-27 story towers done in 2 phases with ground floor retail and 4 levels of underground parking. One unique feature of this proposed project is the massive flower bed and miniature park that will separate the buildings and act as an oasis in the heart of downtown. IBI Architects are assisting with the designs of the project. No further plans have been submitted regarding unit mixes, but you can assume the same style of all existing SoHo buildings. The application of the project is still pending with the city since August 6^th, 2014. With the condo market starting to take shape again, we hope this project gets going soon. For more details on the project, click here.

It’s an exciting time in the condo market, prices are starting to climb, developers have an appetite to build again, and it’s never been a better time to live in Centretown. Combine that with the popularity of the Ottawa real estate market nationally and globally, we hope condo developments will start to flourish once again.

*This information is believed be accurate, but not guaranteed.

Feb

January 2019 Market Statistics for Condominiums in Ottawa

Have a look at the January 2019 Market Statistics for Condominiums in Ottawa.

Members of the Ottawa Real Estate Board sold 209 condominium-class properties in January 2019, an increase of 20.8% from January 2018.

January unit sales are up almost 16%! This is the highest number of January sales we have seen in decades.

The average sale price for a condo in Ottawa was $283,990, an increase of 7.7% from January 2018. *

Between $175,000 to $274,999 remained the most prevalent price point in the condo market, accounting for 54.1% of the units sold.

Curious about January 2019 market statistics for residential class properties in Ottawa as well? Click here to read the full story.

*Average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.