David Wex, co-owner of Urban Capital Developments, is standing infront of the Central Condominiums model. Photo Credit: Pat McGrath, The Ottawa Citizen
You might recall this time last year a buzz of excitement in regards to a new development that was being released. Central Condominiums, child of Urban Capital Developments, Tamarack Homes, and Brad Lamb, was launched with a bang. Sister development to The East Market, and the Mondrian, Central is/will be located a few blocks south of the downtown core, and two blocks north of the glebe at the corner of Bank street and Gladstone avenue.
Brad J Lamb (who was the exclusive broker for Central) and his team had sold over 70 units or about 30% within two hours of opening the doors. By the end of the weekend, the team had sold 130 or 56% of the 232 units. The line that first opening day was absolute mayhem stretching from the corner of Bank and Gladstone all the way to O’Connor. The weekend’s launch made it into one of Brad’s episodes on Big City Broker (HGTV). Also check out an article from the Ottawa Citizen that was written on the launch.
Fast forward a year and there have been some interesting changes. Some of the two storey penthouses were cut in half to allow more units at a reduced price. As well the developers decided to switch to a local agent (Jurgen Fretschner of Coldwell Banker) to sell the remaining units (almost 35%).
The Facts
The Central Condominium model with a bald Brad Lamb on the opening weekend in 2008 - Credit to SouthFacing, titled "Ottawa 4424" on Flickr
Prices range from $207,900 up to $525,900 and price per sq. ft. ranges from $339 sq.ft. for a one bedroom plus den to around $431 sq. ft. for a two bedroom plus den penthouse. Condo fees are $0.36 per sq. ft. which includes water, insurance and common element expenses. Have a car? Parking is $27,500 per spot with lockers (about 18 sq. ft.) going for an additional $3,500.
“Features a double storey lounge and party room, located in the space behind the Metropolitan Bible Church facade, containing a kitchen and bar, lounge seating, reading nooks in the church bay windows…” Each unit will also feature stone counter tops, and “New York Subway style” tiling in the bathrooms.
Central is not just following the Eco-friendly trend, but leading the way with its LEED (Leadership in Energy and Environmental Design) silver certification. Registered with the Canada Green Building Council, Central includes many sustainability features such as a hybrid car share program, green roof, on-site car wash and irrigation, low energy usage (reduced by an approximate 35%), recycling system and many more. This is one building that you will be proud to bring your eco-conscious friend over for a tour.
Download the floor plans and “updated” price list below. Note that the price list is not a representation of what is left, just a sample of the prices.
Central Condominiums Floor Plans
One really interesting fact that should be noted is that they are offering a 2% cash back upon closing (as a credit) if you purchase one of the 80 remaining units. If you are interested in more information feel free to email me (Matt[AT]MattRichling.com) and we can take a tour of the showroom.
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http://www.MattRichling.com
Matt Richling is a sales representative with RE/MAX Affiliates Realty Ltd., Brokerage, Independently Owned and Operated - The opinions of the authors expressed herein do not necessarily state or reflect those of the RE/MAX or RE/MAX Affiliates Realty Ltd., Brokerage.
Exceptional loft style condominium in the heart of downtown. Seconds to work and play, not to mention the rooftop pool and terrace. Stainless steel appliances, granite countertops, 9ft ceilings, 21st floor views overlooking the entire city, plus over $15,000 worth of upgrades. Low condo fee’s make this a perfect place to live or as an investment. Imagine downtown living, the way it is supposed to be.
