Claridge Moon - Launch Date Confirmed!

Claridge has announced a new launch date for its latest project located at 383 Albert Street, at the corner of Albert and Lyon. Claridge Moon is set to launch on May 11th 2019. More information will be provided as we get closer.

Claridge Moon is set to be completed late 2022, comprising of a total of 259 units, with unit sizes range from 510 to 1225 square feet. This is also set to be the first and only residential property to be directly connected to a station on the LRT system.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Claridge Icon - Sales Update

* For more information about Claridge Icon, visit our Claridge Icon page, with all of the renderings, floorplans, detailed information, etc. CLICK HERE.**

Claridge Icon is selling with the building currently over 55% sold out. Only 150 units are available, ranging from $336,000 (610sqft Gable Floor plan on the 8th floor) up to $1.45M (1630sqft New Jacobson on the 43rd floor). There are a good selection of both one bedroom condos and up to larger two bedroom plus den units. Keep in mind that storage lockers are included in the price!

The 45 floor building is on track for an October 2020 occupancy. Claridge is asking 15% deposit to secure a unit, with parking available for $40,000 per spot.

Claridge Moon - New Launch Date?

We last reported (March 13th) that Claridge Moon was set to launch on March 30th. We are now told that Claridge is getting set to launch the latest project “within the next month”, with rumours of the same thing roughly mid to late May. Pricing is still not set, however the Claridge sales agent explained that they will be roughly on par with pricing at Claridge Icon which is starting at $539/sqft, with a building average of approximately $616/sqft.

There is a lot of interest in Claridge Moon for its location and pricing - from both an owner and investor point of view. If you want to stay up to date, and interested in purchasing a pre-construction condo in Ottawa, let’s chat. Fill out the form at the bottom of the page.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Ottawa Condo Market Statistics - March 2019

Every month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for March 2019 and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

The Slater - Only Three Units Left

The Slater, which was built by Broccolini and is located at 199 Slater Street, has only three units left that are available for sale. The building is sitting above the Alt Hotel and has a total of 178 units over 22 floors. Units range from 703sqft (plus a 51sqft balcony) for Unit 1901, up to 1,592 sqft (plus a 253 sqft balcony) for Penthouse 3.

The building is gaining a lot of attention for its finishing quality, superb location, and sleek amenities.

For more information about The Slater, or available condos located in downtown Ottawa, fill out the form below.

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The Slater - Only three units left.

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Breaking News - Federal Budget + First Time Buyers

The Federal Government has announced the budget which includes a number of incentives targeted at housing affordability and helping first time buyers.

The budget includes two main changes, with a number of details still unclear.

The first incentive is the amount that an eligible first time buyer would be able to withdraw from their registered retirement savings plan (RRSP). The Home Buyers’ Plan will allow $35,000 (was previously $25,000) to be withdrew from the RRSP without having to pay tax on the withdrawal.

The second incentive is the introduction if the First-Time Home Buyer Incentive which would allow eligible buyers to finance part of their downpayment through a shared-equity mortgage with CMHC. This would be for eligible first time buyers that are making a downpayment of less than 20 per cent. CMHC would offer 10 per cent shared equity mortgage for new construction homes and condos, or 5 per cent for existing (re-sale) homes and condos. It is expected to start in September and last for three years minimum.

There are lot of details that are still unclear (shared equity? what about losses when properties sell? first time buyers - its not that simple! how much will they make when a buyer sells? etc.).

Any questions on how it could affect you or an upcoming purchase? Fill out the form on the bottom of the page and let’s chat.

Bowery - Sales Promotion

Richcraft has announced a sales promotion to push the remaining units at The Bowery. The “Closeout Sale” offers a discount on all units, plus a free storage locker during the month of March. Specifically, units up to and including 6th floor will be discounted by $6,000. All units 7th floor & up will be discounted by $5,000. There are still great units available across most price points and sizes.

Located at 255 Bay Street, The Bowery Condos + Lofts is 18 stories with 248 units ranging in size from 493sqft (S5 floorplan for $262,000) up to 781 sqft (T1 floorplan for $452,000) . Amazing rooftop amenities that are worth making the project a must-view.

** For more information about Bowery Condos + Lofts, visit our Bowery page HERE, where you can find floorplans, pricelists, renderings, photos, news clippings, and other information. **

Claridge Moon - Launch Date

Claridge has quietly announced the launch date for its next condo project. Claridge Moon, a 27-storey condo tower that is located above the Lyon LRT station, will launch on March 30th, 2019. There is no pricing yet, however the project will consist of 259 condo units ranging from 510sqft to 1,225sqft.

“The ability to incorporate the LRT in the Claridge Moon development is so unique — it is impossible to place a value on it for the future residents. Imagine being able to access the ByWard Market, Westboro or the University of Ottawa in just a matter of minutes without the inconvenience of traffic through the core.” says Neil Malhotra (Claridge vice-president) to the Ottawa Citizen.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Ottawa Condo Market Statistics - February 2019

As we do every month, we have taken a closer look and broken down the sales data for the month of February 2019 for the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision? Let’s chat! Fill out the form on the bottom of the page.

River Terraces 2 - Ground Breaking Sales Promotion + Sales Update

The River Terraces Phase 2, by EQ Homes, is celebrating the start of construction with a “Ground Breaking Sales Promotion”. Only available until March 10th, or for the first three buyers of a one bedroom or one bedroom plus den, the first three buyers of a two bedroom or two bedroom plus den, or the first two buyers of a penthouse unit. The promotion includes a $10,000, $15,000, or $20,000 EQ Design Studio bonus (per unit size), with the penthouse buyer getting an additional parking spot included ($37,500 value).

Located in Old Ottawa East, just off Main street, The River Terraces Phase 2 consists of 96 units, ranging from 514 sqft (model 3* for $284,900) up to 2156 sqft (Model 36 for $1,799,900). The building is now 25% sold, with the sales team pointing out that the two bedroom units being quite well and the most popular. There is still a good mix of units available, for all price points and sizes. They are expecting an occupancy date of late 2020 or early 2021.

**For more information on The River Terraces Phase 2, visit our River Terraces Two page here.**

Corners On Main - Phase 1/2 - Sales Update

Domicile’s latest project, The Corners On Main, is nearing completion. All phase 1 units have all received occupancy (73 in total), with phase two occupancy beginning April 15th. Occupancy is scheduled for two units per day, which is slated to last until the middle of June.

There are only six units remaining in phase 2, with pricing ranging from $226,400 (375sqft Rosedale floorplan) to over $769,450 (1,552sqft Hopewell floorplan, includes parking).

The commercial tenants have also started being announced. Laurier Optical, Happy Goat Coffee, River Dental, and Walker Real Estate Group - are among the first to call the building home. No doubt, you will see an influx in commercial tenants to the area with the addition of the new residential buildings.

Looking for more information on Corners On Main, or pre-construction condos in Ottawa? Let’s chat!

Ottawa Condo Market Statistics - January 2019

As we do every month, we have taken a closer look and broken down the sales data for the month of December 2018 for the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision? Let’s chat! Fill out the form on the bottom of the page.

Claridge Moon/District/Royale - Coming 2019

2019 is shaping up to be the “Year of Claridge”. Aside from Claridge Icon that is under construction, Claridge is getting set to launch three new condo projects in 2019.

Claridge Moon is going to be located at Queen at Albert, located at the Lyon LRT Station. A three tower development consisting of a 26 storey rental building, 25 storey condo building, and a nine storey tower for rentals. The condo tower name “Claridge Moon” will consist of 229 units. No idea of pricing or sizing at this time. For more information on Claridge Moon, visit our page here, which has all of the renderings and up to date information as it becomes available.

Claridge District is going to be located at 91 Nepean and will be “move-in ready” condos. Not much information at this time.

Claridge Royale looks to be the most exciting. Located in the Byward Market, Claridge had purchased the Metro Grocery site (at 245 Rideau street at Cumberland) a number of years ago which at the time started quite a bit of talk about what exactly they would do with it. The project will consist of three towers (28, 26, and 19 floors) that includes a condo tower, hotel, and most likely a rental building. We are hearing that the Metro will continue to be a tenant in the building (once completed) as well as the possibility of a Canadian Tire on the second floor. For more information on Claridge Royale, visit our page here, which contains all of the renderings and up to date information as it becomes available.

Looking to purchase a pre-construction condo in Ottawa? Want some guidance in navigating which project best fits what you are looking for? Fill out the form at the bottom of the page to chat.

Matt Richling X The Globe And Mail - Buyer Wrangles A Discount For Byward Market Condo

Matt was interviewed by The Globe and Mail regarding a recent transaction. If you have Globe And Mail subscription, you can view the article here.

”Condo sales have buoyed the Ottawa market throughout 2018, so it was a surprise to have this property on the market for as long as it was. “Our condo market in [2017] wasn’t in the best shape, but this year we’ve seen it pop back up to where we expected it to be. We’re seeing multiple offers and we’ve got a shortage of supply right now,” real estate agent says.

- The Globe and Mail, January 11th, 2019

SOBA - Occupancy Started

Lamb Developments latest Ottawa project, SoBa - 203 Catherine Street, is nearing completion with occupancy being granted on the first group of units starting Friday January 25th. Owners of units on floors 2-12, are able to pick up their keys in the lobby from 9-5pm.

For more information about SoBa, including floorplans, renderings, etc. visit our SoBa Condos page which has everything in one place. Click Here To View.

The Bowery - Sales Update

The Bowery is Richcraft Homes’ latest building, located at 255 Bay Street in Centretown. The building is now completed and there are only 40 units left in the building or 84% sold out. Prices for remaining units range from $262,000 up to over $472,000. Size of available units is from 493sqft to 846sqft.

For more information about the Bowery, visit our Bowery page located HERE.

For more information about new condos located in downtown Ottawa, fill out the form at the bottom of the page!

The Grid Lofts - Now Released!

Modbox Developments has released the new floor plans and pricing on it’s latest project. The Grid Lofts is located at 92 Stonehurst, just north of Scott (and East of Parkdale), and is a perfect mix of hard and soft loft.. There are only six units, all two bedrooms (the penthouse also has a den) ranging from 1,067sqft up to 1,640sqft (not including outdoor spaces). Prices are not publicly published, however they start from the mid 500’s. They are looking at a target occupancy of summer 2020.

Features include:
- private ensuite elevators
- soaring 10ft. ceilings
- Fisher & Paykel appliances (refrigerator, gas range, double-drawer dishwasher
- ensuite bathrooms featuring custom walk-around shower and free-standing soaker tub
- ideal location, short walk to two major LRT stops
- panoramic rooftop terrace (shared)
- across from Laroche Park

One thing we know is that the design and execution is going to be top notch. We have not seen one project that Modbox/Linebox has been involved with that didn’t get us excited.

“ Hard lofts are once-functional factories or warehouses that have been transformed into an expansive dwelling with natural materials and exposed surfaces. Contemporary soft lofts offer high ceilings, large windows, and open concept floor plans with softer detailing, concealed ducts, plumbing and electrical services.  The Grid Lofts offer the best of both worlds-an entirely new building with the elements of true hard lofts plus the comforts and efficiencies of well-built, modern dwellings.”

Interested? You can now reserve a unit with a $5000 reservation deposit until the Agreement of Purchase and Sale is finalized in the next two weeks, at which point clients will have a 10 day rescission period to ensure all questions are answered to their satisfaction.

For more information, including pricing - fill out the form at the bottom of the page.

 

Bank of Canada - Interest Rate Holds at 1.75% again

Once again, the Bank of Canada has just released today that it will keep its benchmark interest rate unchanged at 1.75%. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC has decided to raise the rate.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The next announcement will be on January 9th (followed by March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th).

Ottawa Condo Market Statistics - December 2018

As we do every month, we have taken a closer look and broken down the sales data for the month of December 2018 for the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Questions about how these numbers affect your investment/condo? Let’s chat! Fill out the form on the bottom of the page.

1451 Wellington - Sales Update

**For everything 1451 Wellington related, visit our 1451 Wellington page. Includes floorplans, renderings, news updates, and more. CLICK HERE**

Sales continue to keep 1451 Wellington moving along. Roughly 70% of the 93 suites are sold, with available units remaining on lower floors and a few penthouses. Starting at $489,990 for the 578sqft one bedroom unit, and up to $2,979,990. 1451 Wellington currently has one of the highest average price per sqft for pre-construction condos in Ottawa - almost $850sqft!

The presentation centre is set to close in February 2019 with construction starting shortly after. Occupancy is slated for June 2021.