Tag: Condos in Ottawa

Game-Changing Condos in Ottawa

Game-changing condos in Ottawa are creating an urban lover’s dream, an oasis in the midst of the nation’s capital. Breaking off from the ordinary condo lifestyle and taking it to the extraordinary. Defying the traditional, throwing away the old and tiring, offering more than just a place to sleep at night, these condos are breaking all the rules and changing the game entirely.

Luxury, modern, fresh, vision-driven, and where the first-class service is the name of the game. These condos are redefining the whole market. Condo living is being transformed and revolutionized right before our very eyes here in Ottawa.

So, what new condos are breaking all the rules and changing the game in Ottawa? Keep reading to find out the price per square foot of these game-changing condos in Ottawa!

Game Changing Condos in Ottawa - 1451 Wellington

1451 Wellington – Building Average, $850/sq ft

Become a resident of Island Park Drive and experience the epitome of luxury and some of the finest living Ottawa has to offer. 1451 Wellington is changing the game of condo living here in Ottawa and for good reason. What sets this building apart from every other condo in Ottawa? Not only offering its residences a home located in the heart of two of Ottawa’s trendiest neighbourhoods, Westboro and Wellington West, but residences also have restaurants, coffee shops, grocery stores, fashion boutiques and more just steps outside their front door.

Just by looking at this magnificent structure you know its different than the rest. You can tell this building exudes excellence, actually more than that, you can feel it. That isn’t a surprise though since excellence is what Mizrahi Developments vision was from the start with this project. Exuding excellence from inside out, Ottawa has never seen such luxury in the condo world before. From valet services, concierge, car washing services, an elite fitness room, a saltwater lap pool, guest suites, entertainment suites and much more, living has never been easier or more fabulous. Coming home at the end of the day has never been more enjoyable when you know you are coming home to a luxurious and pristinely maintained environment, where the only thing left for you to do is kick your feet up and relax.

Understanding that every resident has different needs and lifestyles there are plans to accommodate each need, and the option to customize – making your home uniquely you.  Pristine 1-bedroom suites are $838/sq ft, while 1-bedroom plus den are $768/sq ft. 2-bedrooms are $897/sqft and if you need a little more room, there are also options for 2-bedrooms plus den for $900/sq ft, rounding out the building average to $850/sq ft. With custom options, high-end finishes and top of the line builds, where even the smallest details are treated with great care and precision, helping residences create their very own sanctuary in the sky and setting the bar extremely high.

This development without a doubt has capitalized luxury living in Ottawa and no detail goes unnoticed, making it one of the leading and premier condos in Ottawa. 1451 Wellington is a game changer, leaving behind the ordinary and inviting you home to the extraordinary.

Game Changing Condos in Ottawa - Claridge Icon

Claridge Icon – Building Average, $609/sq ft

Claridge Icon happens to be the tallest residential tower in Ottawa but that isn’t the only reason it’s setting the bar high and changing the game in condo living. The exterior alone sets this condo apart from the rest of the city. This building’s architecture is rich with symbolism and creative genius, which is no surprise considering it is a build by one of Canada’s lead architectural firms, Hariri Pontarini. The exterior balconies and building curves are inspired by the swaying reeds on the banks of Dows Lake. And creative and intelligent design from the street view gives passerby’s an illusion of the building shifting and expanding, this fact alone sets this build miles apart from other the other condos in the city.  Claridge Icon is a show stopper, there is no doubt about it and residences are graced with an artistic and grand design. Modern, bold and exceptionally crafted, residences are truly living in a piece of art within the nation’s capital. Leading the way in terms of residential building design in Ottawa this project is proving that a building is more than just four walls and a roof.

Not only aesthetically on top of the condo game in Ottawa but it doesn’t stop there for this development. Offering its residences, the best and finest amenities in condo living; a yoga studio for the yogi, a fitness centre for the gym goer and an indoor pool and sauna to be enjoyed at the leisure of each resident. Entertaining has never been made easier with guest suites, a movie theatre and indoor and outdoor party space, making it perfect to host at any time of the year! The developers knew exactly what it was people were looking for when they started this project; offering urban living in the heart of Little Italy, while also providing coveted serene green space for residences to relax and enjoy, all only at a hop, skip and a jump away.

Beautifully crafted, carefully designed and impeccably executed suites make it easy to fall in love with this place. Tastefully and classy 1-bedroom suites average $598/sq ft and a 1-bedroom plus den averages at $592/sq ft. Residences looking for a little more have the option of a 2-bedroom suite averaging $639/sq ft, making the building average $609/sq ft. A trendy, high-end build that also happens to be the tallest residential tower in Ottawa, you know the views are going to be unbeatable and absolutely stunning– and they are! Offering residences gorgeous views of Dows Lake and the city at heights you never have seen them at before.

Setting the condo living bar very high (and not just referring to its height), the lucky ones who get to call Claridge Icon their home experience the new height of condo living in Ottawa. Elite and modern living (with absolutely stunning views) is made possible when you call Claridge Icon your home.

Game Changing Condos in Ottawa - St Charles Market

St. Charles Market – Building Average, $611/sq ft

St. Charles Market offers its residences a once in a lifetime opportunity to live in a Heritage Building. The fact that this building is a Heritage building means it’s already on a whole other level.

St. Charles church was built in 1908 and features Quebec inspired neoclassical architecture. The developers have taken this beautiful and historical building and transformed it into one of Ottawa’s most desired and premier living quarters in the sought after Beechwood Village neighbourhood.

This carefully crafted, and magnificently (soon to be) executed build sets itself apart in the condo market and all of the real estate markets for that matter, by putting design at the heart. Melding history with contemporary has been done before but no one has done it quite as exceptional as this and Ottawa better watch out. A seamless blend of new and old with a primary focus on respecting the church, this project offers a historically rich and welcoming environment, making it the kind of place you’d want to call home. Other condos offer a place to sleep but St. Charles Market offers, history, heart and community.

With only 50% of the land utilized for building with the rest dedicated to providing the residences and the community something more than just another building. A beautiful garden and park like border around the building bring an air of calmness and beauty to the hustle and bustle of the city reminding everyone who passes by that even while in the middle of the city it’s still important to take time to stop and smell the flowers.

Leading in the condo market for the uniqueness and creativity, offering exquisite horizontal suites that give residences that full home feel that can often be missed when living in a condo. Offering outdoor space, an elite fitness room and a welcome lounge to gather, again proving that community is at the heart of this development, making it so much more than a condo but a place you can gather and call home.

Offering something for everyone and their lifestyle with a wide range of floor plans. 1-bedroom averages around $559/sq ft, a 2-bedroom $567/sq ft and a 2-bedroom plus den $560/sq ft. Also providing 3-bedroom units averaging $583/sq ft and a Penthouse at $790/sqft, rounding the building average to $611/sqft. Each suite offers finishes that provide both function and beauty as the developers are adamant on providing finishes that speak volume about the quality while still maintaining a high integrity of design and style.

St. Charles Market is something you’ve never seen before and Ottawa is watching closely because ready or not, this place is going to revolutionize condo living, bringing more community, heart and impeccable design than we’ve seen before.

https://ottawascondominiums.com/condo/soba-condo-ottawa-203-catherine-st/

Soba – Building Average, $558/sq ft

SoBa or “South on Bank” is not merely just a condo development, but something much more. This project is full of so much heart and vision, it’s inspiring. Taking unused and unwanted land and giving it a new lease on life, this heartfelt development is redeeming and reinvigorating a little part of Ottawa. This build is giving us a new lens to look through – to see beauty where there was once nothing. The passion behind the concept and vision of this build is already more than most. Just give it time and developers will be lining up asking SoBa just how it did it and how they can also contribute to the betterment of the city.

The heart and vision behind this project alone are changing the condo game in Ottawa, but that’s only the start of what they are bringing to the table! Finally, what Ottawa has been waiting for, what Ottawa has been asking for, it’s here. Downtown Toronto finally comes to Ottawa! This project is bringing something new and something fresh to the nation’s capital. Not only is it bringing life and new energy to the Bank Street area, but it is also bringing downtown Toronto to Ottawa; with that same feel and energy SoBa is already changing and leading in the Ottawa condo market. With floor to ceiling windows, exposed concrete ceilings and an exposed concrete feature wall with columns, it has got the coveted industrial vibes down to a science. Bringing a whole new energy to the condo game, Ottawa couldn’t be readier or more excited to spice things up. From blah to brilliant and tired to trendy, SoBa has a vision for Ottawa and it is coming to life right in front of us.

Not only is this building the trendy it place to live, but it also offers a wide range of suites from 400 sq ft up to 1,200 sq ft, meeting every need, making it even more desirable than it already is. On average a 1-bedroom runs $536/sq ft, 1-bedroom plus den $526/sq ft, 2-bedrooms average $539/sq ft, 2-bedrooms plus den $522/sq ft and the Penthouse units average $670/sq ft – rounding the building average to $558/sq ft.

From the awesome location in Centretown just off of bustling Bank Street to the modern and chic game-changing ways, this development is going to be the trendy it place to live in Ottawa. Guaranteed.

Bringing a whole new vibe and atmosphere to the Ottawa condo market, SoBa creates that energy, that vibe, that feeling you get when the fit is better than just right, it’s perfect – all while bringing a little more love and beauty to the city.

Game-Changing Condos in Ottawa

Finally offering the people of Ottawa something more than the traditional and breaking away from box like attitudes of many developments. These condos are revolutionary, ahead of the times and creating a whole new way to live in Ottawa. Defying the conventional and bringing a whole lot more to the table, Ottawa better be ready because these condos are bringing a whole new game to town.

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Smoking Pot Inside Condos

A hot topic right now in the condo world touches on the Federal government’s push to legalize marijuana across Canada. Many condo owners are becoming increasingly concerned as legalization nears, with what legal rights and measures their respective buildings can take in order to prevent smoking pot inside condos and common areas in condo buildings. One condo board in Toronto near Sheppard and Don Mills wants to prohibit the smoking of cannabis, as it already gets countless complaints about marijuana odours wafting between units, triggering asthma and allergic reactions. – nowtoronto.com

Further, Ottawa Public Health agency recently made a recommendation to the province to outright ban smoking pot inside condos and apartments, including balconies. – cbc.com

The question is – Is it within the rights of Condominium Boards to ban this soon-to-be legal substance within privately owned units? According to Michelle Kelly, a specialist in condominium law, bans such as this are done by the Condo Corporation creating a rule (under Section 58 of the Condominium Act). – globalnews.com This rule would then be circulated to owners, and unless the owners call for a vote, and vote against it, it enters into force. Rules such as these are created in order to promote the safety, security or welfare of the owners, and to prevent unreasonable interference. Things such as the pungent smell of second-hand smoke could be considered a nuisance, and therefore a new rule would be reasonable.

Ontario Landlords are also becoming increasingly concerned with the upcoming legalization. The concern lies with the major financial cost that could be associated with removing the smell of marijuana after the tenant vacates. – nowtoronto.com Currently, landlords are able to ban smoking for new leases, yet with existing leases, it is illegal to modify any of the clauses before the natural end or termination of the lease.

An even further grey area is whether condominiums can ban smoking for those who have a medicinal license to do so. Many argue that medical consumers would be exempt under the Ontario Human Rights Code, which may result in a legal challenge by Condominium Boards. Needless to say, this hot topic is not going anywhere anytime soon.

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1000 Wellington St #311 | Exclusive Listing at The Eddy - Ottawa's Condominiums

Looking for exceptional urban lifestyle living in one of Ottawa’s trendiest neighbourhoods? Welcome to The Eddy, winner of a 2016 Housing Design Award for the best-designed high-rise building in Ottawa, and one of the few LEED Platinum condos in Canada. Located in the heart of Hintonburg where you are within a 5-minute walk to the scenic Sir John A. MacDonald Riverfront Park, a wide assortment of restaurants, cafes, and trendy shops, as well as the new light rail Confederation Line (LRT). A sophisticated space to call home, this Exclusive Listing at The Eddy offers 2 Bed + Den and 2 Baths. This is one of the largest floor plans in the building at 1,079 sq ft along with a large south oriented balcony at 134 sq ft facing a quiet residential neighbourhood.

1000 Wellington St #311 | The Eddy | Exclusive Listing - Ottawa's Condominiums

A “soft loft” design with nine-foot ceilings, an industrial feel, and exposed concrete ceilings and ductwork. Pride in ownership is evident with over $20,000 in custom upgrades, including a generous addition to kitchen cabinetry, built-in closet storage, high-end blind system and more. The details in this condo have been carefully selected to compliment the builder finishes and create a clean style, with uncluttered lines and natural textures. A sweeping island is a focal point for entertaining in this contemporary white kitchen, along with stainless steel appliances and quartz countertops.

The building adheres to the highest possible eco-friendly standards, with geothermal heating/cooling, rainwater recapture, low VOC finishes and the first puzzle parking garage in the city.  A spectacular rooftop terrace with outdoor lounge, fireplace, garden plots, & barbecues to be enjoyed with friends while watching the sunset over the Gatineau Hills and downtown Ottawa. This is the lifestyle you’ve been waiting for!

1000 Wellington St #311 The Eddy Exclusive Listing 3

If you are interested in visiting this spectacular condo or would like more information at this Exclusive Listing at The Eddy, please don’t hesitate to get in touch. Link to our virtual tour.

Exclusive Listing at The Eddy Key Details

List Price: $549,900

Square Footage: 1,079 sq ft + Balcony 134 sq ft = 1,213 sq ft

Number of Bedrooms: 2 + Den

Number of Bathrooms: 2

Number of Parking: 1

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Southminster Condos

Church and Developer partnerships are becoming the norm. Many religious congregations are facing dwindling memberships, high operating costs, and major deferred maintenance bills. Some congregations are questioning their short-term cash crunches and long-term viability. The silver lining for most congregations is their primary asset, their land. Built generations ago, some churches are to be located in mature neighbourhoods and congregations were able to purchase large parcels of land at a relatively low cost.

Developers, on the other hand, are primarily concerned with finding land. Without a significant supply of quality land, developers are unable to build. Typically, developers buy land for 5-10 years down the road to have inventory; commonly known as land banking. Seems simple enough; buy land and build for today and have additional land to build on after. Right? Wrong! As cities continue to grow, the urban land becomes more valuable and harder to find.

With separate yet interdependent problems, both parties have to become willing partners. Windmill Developments have successfully proven their ability to partner with the Anglican Church to develop its site in the downtown core, Cathedral Hill, located on the corner of Sparks St and Bronson Ave. They struck a land-lease with the Church and built a luxury 21 story condo building with unprecedented views of Parliament, The Ottawa River, and The Gatineau Hills.

Fast forward to today, Windmill Developments are working with Southminster United Church to develop another parcel of land. Ideally located, Southminster United sits in the historic neighbourhood of Old Ottawa South. Southminster Condos will be only the second condominium development in the neighbourhood. What makes Old Ottawa South such an interesting neighbourhood from a land perspective is that it’s partially landlocked. The Rideau Canal borders the northern part of the neighbourhood, while the Rideau River borders the southern part. Due to this, it’s land value is vastly increased.

Southminster Condos itself is quite small with only 4 town-homes and 14 residential condo units proposed. This would be a perfect fit for the streetscape of the neighbourhood and would keep the charm and feel of Old Ottawa South intact. However, the project faces a zoning change, heritage overlays, and potential community push back.

Overall, Southminster Condos has the potential to become a landmark site in Old Ottawa South as Cathedral Hill has in Centretown. With city and community approval, continued collaboration between Churches and Developers can continue and they can create a rich piece of history in the process. Finally, something the whole community can be proud of.

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Condo Assignments

Following a call with a client yesterday discussing assignments at Soba Condo Ottawa and Hideaway Condo Ottawa, I thought it would be helpful for readers and clients if I put together a few of my thoughts surrounding condo assignments and how HST can affect condo assignments and pre-construction purchases in general. Understanding the following will assist in underwriting your decision to purchase pre-construction and assist in setting up the purchase in the most profitable way.

For the sake of this discussion, units can be purchased in four ways. Each of which carries differing HST implications. The four options are:

  1. As an owner-occupied unit
  2. As a rental unit
  3. As an assignment
  4. As a flip

When completing the transaction via Option 1 – The statutory declaration at the time of closing will be owner-occupied. With this option, the property has zero HST implications associated to the purchase under the pre-construction purchase contract. Meaning the contract price is the full purchase price. This transaction will only be subject to standard closing adjustments.

When completing the transaction via Option 2 – The statutory declaration at the time of closing will be a rental property. With this option, the federal government has a program called the Rental Rebate Program, which in turn covers 98-99% of the HST that would have been included in Option 1. The purpose of the rebate is to encourage the addition of rental units to the market.

When completing the transaction via Option 3 – There will be no statutory declaration at the time of closing. This is because a title transfer closing never takes place. With this, the HST implications will be a consideration of the end Buyer that is purchasing the agreement. Other implications via capital gains and/or losses or other are another story.

When completing the transaction via Option 4 – To me, this signals a RED FLAG, basically this is a steer clear option. The reasoning is that it is difficult to pass the test of owner-occupied or rental while never occupying or renting the unit and subsequently turning over the title quickly following the official unit title transfer date. This can cause any included in purchase price HST or HST rebates to be called back or voided.

Condo Assignments Summary

If the intent is to flip a pre-construction condo, this will be best done via option 3 as an assignment prior to registration and unit title transfer. The only other way I would suggest entertaining the ‘flip’ option would be in the event a unit was occupied or intended to be occupied during the interim period but following unit title transfer, for some believable reason you have a change of heart, subsequently selling shortly after registration. This move may result in red flags as the title of the condo will have changed hands quickly and an audit will be likely.

Alternatively, and for the risk adverse, the best fall back strategy when talking condo assignments and understanding HST Implications surrounding pre-construction purchases, my opinion is to earmark the condo at the onset as a rental for at least one year, leaving no possibility of HST impacts outside of the Rental Rebate Program. This will lead you to sell the unit down the road while tenanted. While tenanted the unit can carry and cover. At this point, you can sit on your hands and wait the completion of the lease term. When the lease term approaches you can market the property for sale while it is lived in, collecting rent and carrying its own weight. Keep in mind finding a tenant at this point is key. Rents are great, but having a tenant with nice furniture and artwork is even better as their furniture will act as free staging 😉

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Investors are Entering the Student Condo Market

Investors across the country have taken note of student cities and have begun purchasing condos and renting them to students. With the number of enrolled students across Canada on the rise and the cost of an education reaching new heights, investors should definitely consider this strategy of entering the student condo market.

Since 2000, the number of enrolled students across Canada has grown by 44%, reaching more than a million, according to the Association of Universities and Colleges of Canada.  The cost of an education in Canada is also on the rise. Investors catering to this market are aware that they are renting not to the poor student, but effectively, to their wealthy parents. These are parents who are more and more prepared to pay a premium to ensure that nothing gets in the way of their children’s education. In fact, the key to building a profitable and manageable student-housing portfolio lies at the high end of the student condo market.  These property types are a great option to both student and their parents for a number of reasons.

Security

Student condos and purpose-built apartment buildings have cameras in all common areas, as well as onsite staff, which gives parents peace of mind.  They also have security systems to control entry, as well as 24/7 video monitoring that protects the premises.

Professional Property Management

Managing 18 and 19-year-olds who are enjoying their first taste of freedom can give Landlords a headache worse than a morning-after hangover.  But you can eliminate this burden by having a professional property management firm handle your rental property on your behalf.

Maintenance

All the maintenance is handled by the condo, including snow removal, gardening, and cleaning common areas.

Preferred by the City

Condos are a preferred structure for municipalities.  Compared to illegal rooming houses, this structure ensures the building isn’t at risk of being shut down.

Fewer Rooms

Condos typically have fewer rooms than student houses.  Fewer rooms mean fewer students per unit and a lower chance that damage and Tenant issues will arise.  Condos are more desirable than larger houses with more distractions.

 

Pre-construction condos are one of the best ways to invest in the student condo market.  Purchased several years before students apply to schools, investors aren’t competing with parents on resale properties.  They often come with full rental guarantees and free or low-cost property management, making them a hands-off investment option.

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Five common mistakes home buyers make to watch out

Buyers are often so focused on finding the desired property within their budget that they make unnecessary and costly mistakes.  Here are five common mistakes home buyers make to watch out for:

1. Not Hiring a Qualified Home Inspector

Just like any other profession – no two Home Inspectors are created equal.  Always be sure to research a variety of professionals.  Find out how they report back results and determine their level of knowledge with the type of home they are inspecting.  You want someone who will take detailed notes and pictures, provide guidance, and take the time to explain the various concerns/benefits of the home.

2. Ignoring the Value of the Neighbourhood

The neighbourhood in which a home is located in is often ignored.  The focus is usually on the features of the home, but what about access to transit, schools, shops, and highways?  How do the other homeowners maintain their properties?  Is the area in a state of growth, stability, or decline?  Does the house conform to the general area?  Is it the worst or best house on the street?  All of these factors can impact not only the current market value but its anticipated future value.

3. Getting Caught up in Multiple-Offer Situations

A number of local real estate markets across Canada are experiencing high buyer demand with relative lack of active listings.  Typically, this trend will push home prices upwards.  This is often compounded by homes that are being priced below market value, and sellers not accepting offers until a specific date.  The purpose of these selling strategies in a hot sellers’ market is to encourage multiple-offer situations.  All too often, the end result is a buyer paying too much for a home.  As a homebuyer, be prepared to walk away from such a situation.  Allowing your emotions to rule your thinking may end up costing you more money than you should be otherwise paying for a home.

4. Having Search Criteria that is too Broad

Home buying should involve the process of elimination, not addition.  It’s normal to begin the process with a fairly broad set of criteria in terms of home features, location and cost.  Once you’ve had the chance to view a couple of homes and build your knowledge base, then it’s time to make some decisions.  The more focused and efficient your search is, the more you’re likely to find the home you actually want.  When search criteria are too broad, we tend to get overwhelmed and have difficulty making meaningful decisions.

5. Not Hiring a Professional REALTOR®

As in the case with every professional service provider, not all REALTORS® are made the same.  Do your homework.  Review REALTOR® websites, ask friends and family and interview multiple Real Estate Sales, Professionals.  A referral to a reputable REALTOR® can be a great source, but just because your good friend has a parent in the business doesn’t mean they’re a good fit for you.

 

Keep these five common mistakes home buyers make in mind when you are looking for your next home.

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Market Update
Apr
14

Market Watch

Members of the Ottawa Real Estate Board sold 853 residential properties in February 2015 through the Board’s Multiple Listing Service® system, compared with 868 in February 2014, a decrease of 1.7%. In this February 2015 market update, the five-year average for February sales is 914.

“Even though we had one of the coldest months on record, resales for the month of February are only slightly down from last year. Looking at residential properties alone, 13 more properties were sold this February over last February – a 1.9% increase; while the condo market, on the other hand, has been a little slower to gain momentum. That being said, both residential and condo sales are up a total of 226 combined units since January.” – David Oikle, President of the Ottawa Real Estate Board

February’s market update noted 168 sales in the condominium property class and 685 in the residential property class. The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $358,206, an increase of 1.3% over February 2014. The average sale price for a condominium-class property was $267,880, an increase of 3.8% over February 2014. The average sale price of a residential-class property was $380,358, a decrease of 0.3% over February 2014.

The hottest segments of the Ottawa market update in February were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 range, and $400,000 to $500,000 range. These price ranges continue to have the highest concentration of properties sold, while residential two-storey homes and bungalows continue to have the highest concentration of buyers.

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Gotham Condos Ottawa is Move-in Ready

The countdown to occupancy in on!

Gotham Condos Ottawa is move-in ready for even the pickiest of condo connoisseurs. Built by Lamb Developments, the highly anticipated Gotham Condo Ottawa development is set to occupy this coming April 2015. I had the pleasure to walk through the project last week (March 15th, 2015) and the project is certainly everything it was cracked up to be after all the hype three years ago when the building sales launched.

The attention to detail throughout this building is without a doubt, pound for pound the best in the city. With the prevalence of builders consistently fighting to keep costs down, it is a breath of fresh air to see all of the extras that the Gotham Condo Ottawa is offering. From the subtle accents, elevator ceiling heights of 10+ft, gas appliances, tinted exterior glass with a bluish hue, gas lines on all of the balconies and terraces, solid core doors, details in the casings and door trim, to the in your face 10ft glass doors that usher you into the building, you will have no choice but to appreciate that Ottawa’s condo scene is growing up.

In terms of availability, the building is mostly sold out, but units will come up for resale in the coming years. The select units that remain unsold are a combination of builder units and assignment units. These unit are set to be ready to view and/or occupy in the next few weeks. My Coles Notes to keep in mind if you are considering a purchase in this building:

  1. The 4th floor offers an extra foot of ceiling height; and
  2. Contact us for more information 😉

Gotham Condos Ottawa is move-in ready and priced from the low $200k’s up to the Mid $600k’s. The floor plans offer from 400 sq ft to over 1.400 sq ft of living space, plus balconies and/or terraces.

The photos attached to this blog feature a couple completed units that I walked through as well as the buildings party room with outdoor terrace. Gotham Condos Ottawa is move-in ready, so what are you waiting for?

Check back in for an update!

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Hideaway at Central

Hideaway Condo Ottawa or ‘Hideaway at Central’ is now gearing up for final closing and title transfers. This is when the units are officially transferred from the Developer to the Purchaser. The latest updates from the Developer are estimating a registration and final closing date of April 25th, 2015. Hideaway Condo Ottawa has been in interim closing since November 2014. Interim closing is the time in between when occupants begin moving into their units and when they officially close on the unit (title transfer date). During this time the soon to be Owners pay the Developer a fee for access to their units. This fee is a sort of rent and is comprised of property tax, interest, and condo fees. This fee is not credited back to the Purchaser on title transfer date.

In case you are not familiar, Hideaway at Central is the final part of a three-phase condominium building developed by Urban Capital in Ottawa, ON Canada. The building is jam-packed with amenities and located in the trendy Centretown neighbourhood. The amenities include an outdoor pool with cabanas, a large BBQ at the terrace, a gym, media room, concierge and a party room. Hideaway at Central is the third phase of the Central condominium development in Ottawa. Central Phase 1 Condo Ottawa is freestanding building between Gladstone Ave and McLeod St. Just across McLeod St, Central Phase 2 Condo Ottawa and Hideaway Condo Ottawa stand. Central Phase 2 Condo Ottawa and Hideaway Condo Ottawa are connected.  Despite the buildings being separate and unique condo corporations, Central Phase 2 Condo Ottawa and Hideaway Condo Ottawa do share a few common elements. Namely the outdoor swimming pool and the common terrace. These shared elements are documented in the condo bylaws.

Units are priced between $220,000 and $420,000 and typically rent in the range of $1400 – $2300 per month. In the Hideaway Condo Ottawa, the smallest one-bedroom floor plans are branded as the ‘Blue Palace’ units at 410 sq ft. One of the more mid-size and likely the most popular floor plans are the ‘Lalu’ units at 609 sq ft.

There are always units for sale and also for rent popping up between these three buildings. If you or anyone you know is interested in these developments, please reach out to us!

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