New Development at James Street Pub

The historic James Street Pub closed its doors in 2019. Developer Urban Capital and architect Toronto’s RAW Design are in charge of a new development that is currently in pre-construction and will be located at 390 & 394 Bank St and replace the James Street Pub. The James Street Pub has been at its Bank Street location under various names for more than three decades. A red-brick residential and commercial development is expected to be built where the Pub currently stands. The residential part is expected to be nine stories high and contain 55 one-bedroom units and 73 two-bedroom units. The underground parking garage would include 2 levels with 64 parking spaces as well as 72 spaces for bikes. The ground floor commercial space is expected to have ~7,000 square feet of space. The proposal also calls for a rooftop swimming pool and outdoor amenity area. The ground floor of the residential part could also include a party room and a fitness facility. The project is expected to be complete in 2023. To learn more about this up and coming development, click here.

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Have a look at the January 2020 Market Statistics for Condominiums in Ottawa.

Members of the Ottawa Real Estate Board sold 222 condominium-class properties in January 2020, an increase of 6.7% from January 2019.

The average sale price for a condo in Ottawa was $338,077, an increase of 19.1% from January 2019.*

The average price for condos was 8.8% from last month.

Curious about January 2020 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.

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3017 Courtyard Crescent

3017 Courtyard Crescent | Upper Hunt Club Single Family. Beautiful 4+1-bedroom 3.5-bathroom single-family detached home in the sought-after neighbourhood of Upper Hunt Club. The main level features a separate formal living room and dining rooms, as well as a sunken family room off the kitchen with a gas fireplace, storage and conveniently located main floor laundry room. Loads of cupboard and counter space in the eat-in kitchen, as well as stainless steel appliances. Hardwood and tile flooring throughout, custom blinds throughout and gorgeous front interlock. The second level consists of the master retreat, 3 additional good-sized bedrooms, and a full bathroom with granite countertops. Large master retreat boasts Jack and Jill closets as well as a 4-piece ensuite. Partly finished basement features a rec room or additional bedroom and 3-piece bathroom. Large private fenced in backyard with spacious deck, shed, cherry tree and NO REAR NEIGHBOURS at 3017 Courtyard Crescent.

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Condominium property class sales in Ottawa increased 13% in 2019 with 4,584 units sold versus 4,056 in 2018. The average sale price for a condominium class property in Ottawa in 2019 was $304,203, up 9.3% from last year.

Ottawa had a busy and expensive condo market last year, here is a list of the top 10 most expensive condo buildings, top 10 most expensive neighbourhoods and top 10 dork ranking buildings in 2019.

Average Price Per Sq ft
$609.31
$614.61
$646.81
$677.63
$679.03
$691.49
$701.28
$711.18
$722.72
$912.70

 

Average Sold Price Per Sq ft
$469.52
$469.84
$472.76
$476.76
$480.96
$489.40
$515.26
$518.26
$521.28
$539.29
Ranking
10
9
8
7
6
5
4
3
2
1
*based off a factor that is used to evaluate buildings based on sales, average price per sq ft and days on market.
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Have a look at the December 2019 Market Statistics for Condominiums in Ottawa.

Members of the Ottawa Real Estate Board sold 227 condominium-class properties in December 2019, an increase of 18.8% from December 2018.

The average sale price for a condo in Ottawa was $310,675, an increase of 13% from December 2018.*

Condo sales increased 13% with 4,584 units sold in 2019 versus 4,056 in 2018.

Year-end figures show an average sale price of $304,203 for condos, up 9.3% from last year.

Curious about December 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.

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Hintonburg Four-Plex | 111 Melrose Avenue

DON’T MISS THIS GREAT INVESTMENT OPPORTUNITY IN TRENDY HINTONBURG! With over $70k in annual rental income, this building is cash flow positive, the monthly rental income is $6,018.00. Renovated 4plex featuring 2 upper one-level one-bedroom units w/ balconies and 2 lower two-level three-bedroom units. New bathrooms, kitchens, floors and many upgrades throughout. This could be a great opportunity to invest, owner occupy and live for free, or sever and sell both sides separately.

111 Melrose Avenue Neighbourhood Guide

What to Expect

Hintonburg is located west of the downtown core. It is a mostly residential area but its commercial district is occupied by Wellington St W. It is the neighbourhood that precedes Westboro, going westbound from downtown. The area has a diverse mix of heritage buildings and new developments. Hintonburg is close to many of Ottawa’s popular neighbourhoods including Westboro, Little Italy, and Centretown.

Demographics

This area hosts an eclectic mix of artists, adults and families. This mix is in part due to the opening of several galleries in the area since 2006. There are a few child care services and elementary schools.

Lifestyle

Wellington St W is a thriving street due to its proximity to the Parkdale Market and Tunney’s Pasture. Commercial activity along this street is predominantly independent businesses and offices. At the corner of Holland and Wellington, there is the Irving Greenberg Theatre Centre which opened in 2007 for live theatre performances.

What You’ll Love

Hintonburg is easily accessible as it is bordered by the Queensway as well as Ottawa’s light rail transit system, the O-train This neighbourhood offers a diversity of restaurants, if you head to Wellington Street you will be sure to find something you love. You’ll have access to grocery stores, pharmacies and any amenities you would need. You can take a drive, or bike ride, on the Parkway and find beautiful views of the Ottawa River.

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

Members of the Ottawa Real Estate Board sold 330 condominium-class properties in November 2019, an increase of 12.2% from November 2018.

The average sale price for a condo in Ottawa was $313,734, an increase of 9.8% from November 2018.*

The most active price point in the condominium market was, $225,000-$349,999, and accounted for 57.5% of the units sold.

Curious about November 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.

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Top 5 Condo Developers in Ottawa

Historically, Ottawa hasn’t had the same demand for condos as other metropolitan cities. Our demographics didn’t dictate it, our job market wasn’t growing enough (outside of the government), and externalities didn’t put Ottawa on the map. Fast forward to today and things have changed. Baby Boomers are starting to retire and reconsider the value of their massive home against the realities of what they need now and moving forward. Ottawa is being talked about as “Silicon Valley North” with the massive success of Shopify and countless other companies that are about to hit. Nationally, the spotlight is on Ottawa. Toronto and Vancouver have seen major pricing spikes in real estate and declining numbers on livability forcing people to look at alternatives i.e. Ottawa. As a result, condos are a major talking point in the Ottawa real estate market. Not all condos are created the same, which are heavily influenced by the developer. The condo market is evolved and has been shaped by several developers over the decades. Here are the top five condo developers in Ottawa (in no particular order):

Urban Capital

Hideaway Condo Ottawa Exterior Image

Urban Capital brought the trendy feel of Toronto condos to Ottawa. Specializing in the soft loft feel (exposed concrete and high ceilings in a new build), they took the condo market by storm with the three-phase East Market Condos. Based on that success, they went straight into Centretown and cemented themselves in Ottawa with a 24-story high-rise, The Mondrian. Urban Capital’s momentum and popularity were at an all-time high in Ottawa and they had one more gift… ok two, for Centretown. They single handily revitalized Centretown south of Gladstone Av with Central and The Hideaway.

Charlesfort Developments

The Merit - 108 Ligar St Exterior Image Luxury Condos

Charlesfort Developments is the most distinct condo builder in Ottawa. Their art-deco style sets them apart from the pack and leaves a lasting impression wherever they build. Think I’m kidding, what’s one of the only things you can remember on Bronson Ave around the Glebe… the McDonalds? How about that cool building less than a block away? Thank you, Glasgow Condos! Wherever you look centrally in Ottawa, Charlesfort has a presence. The Golden Triangle has the Merit, Old Ottawa East has The Glassworks, and Centretown has Hudson Park, to name a few.

Claridge Homes

Claridge Plaza Condo Ottawa

Claridge Homes is arguably the Condo Developer that has impacted the downtown condo market the most. Founded in 1986, Claridge started out as a home builder before expanding into condos. Today, their main claim to fame is twofold. One, they have shaped the Byward Market condo market into their own. They built York Plaza Condo, Claridge Plaza Phase 1, Phase 2, Phase 3 and Phase 4, 700 Sussex, and (most recently, even though it’s not a condo) the Andaz Hotel. Moving slightly west, Claridge is about to make history. On the corner of Preston St and Carling Ave, a superstructure is being built. The 45-story Icon will be the tallest condo building in Ottawa. The first of its kind, the Icon will redefine the skyline in Ottawa and will spark the redevelopment of Preston St. that is long overdue.

Domicile Developments

Founded in 1976, Domicile Developments made a niche for itself in the low to mid-rise building class. They have primarily built units with lofty features (high-ceiling and big windows), blended with modern finishes. Domicile has built so many good projects over the years, it would take too long to talk about them all. Instead, here are a list of buildings Domicile has built-in popular neighbourhoods inside the Greenbelt:

Centretown:

Old Ottawa East:

Little Italy:

Westboro:

Wellington West:

 

 

Windmill Developments

The Currents Condo Ottawa - 1227 Wellington St W Exterior Image

The final entry on this list is Windmill Developments. Founded in 2003, Windmill set its sights on being the most environmentally friendly developer in Ottawa. Every one of their projects has the esteemed Leadership in Energy and Environmental Design (LEED) certification. In addition, they have produced some landmark projects including The Eddy and Cathedral Hill and have a crown jewel set to launch shortly in Southminster Condos. That said, I think Windmill’s best project was The Currents, on the corners of Wellington and Holland (where the Great Canadian Theatre Company is). Ecstatically pleasing, large floor plans, and rarely an active listing in the building make The Currents a big hit!

Ottawa’s condo market is evolving. These top five condo developers in Ottawa have had a major part in shaping the market, the skyline, and the next generation of developers. They have set a precedent in the market and we can’t wait to see what’s next.

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