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!