Claridge ICON

Claridge Icon - Sales Update

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* 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 Icon - Sales Update

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

Claridge Icon, located at 505 Preston street and just north of Dows Lake and in Little Italy, is continuing to sell units as construction moves along. Currently the building is over 50% sold out and has a good selection of sizes and prices. Units start at $336,000 for the Gable (610sqft), or the Redford (625sqft) for $338,000.

Occupancy is slated for October 2020. Prices average $604sqft. Deposit is 15%.

Claridge Icon - Construction Update

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Claridge Icon, located at the corner of Carling and Preston street, is currently on the 27th of 45 floors. Glass has started being installed in the lower flooring as things continue to move along well. It’s hard to imagine exactly how high that will be when looking at the building…. Keep in mind this is a rough example below.

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There will be 320 units with an estimated completion of early to mid 2020. Prices range from $330,000’s and up, with unit size ranging from 610 to 1630 square feet.

 

Claridge Icon - Sales and Construction Update

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Located in Little Italy at the corner of Preston and Carling, Claridge Icon is coming along on time. Construction crews are currently pouring the 18th floor, out of the 45 storey building. 

There are roughly 188 units still available to purchase (out of the 320) with prices starting at $331,000 for the 610sqft one bedroom "Gable" floorplan". There are roughly 87 one bedroom units, 37 one bedroom plus den, 63 two bedroom units, and only one two bedroom plus den units that remain. Keep in mind that some floorplans are sold out, with only some floors available for certain floorplans.

- The building is set for occupancy April 2020
- Parking is $40,000/spot (condo fees are $34.35/month per spot)
- Lockers are included with each unit
- Deposit - 15% total - with 5% at signing and 10% provided 60 days after signing

For more information on downtown Ottawa condominiums, fill out the form below! 

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Claridge Icon - Construction Update

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Construction is moving along as projected at Claridge Icon, located at the corner of Preston and Carling in Little Italy. Construction crews are currently pouring the eleventh floor of the 485 foot, 45 storey building that is set for completion in April 2020. 

If you have questions about condos in Ottawa, fill out the form below and let's chat!

Claridge Icon - Construction and Sales Update

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The Claridge Icon is well underway with construction crews currently pouring the 5th floor. Set for completion by April 2020, there is a rumor that they are moving ahead of schedule and occupancy might even start earlier. The 45 storey building will stand 485 feet high above the ground. 

The building is currently around 40% sold (124 of the 320 units), with only two of the twelve penthouse units still available. Some floorplans are almost all fully sold out like the Bertoia (2bed-855sqft), New Pacino (1bed 645sqft), etc. Sales are estimated to pick up significantly this year with the increased demand in the Ottawa condo market.

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Questions about pre-construction condos in Ottawa? Fill out the form at the bottom of the page and let's chat.

Claridge Icon Ottawa Condo - Construction Update

Claridge Homes is steadily progressing on construction of what will be Ottawa's tallest condominium building. Claridge Icon is located at 485 Preston Street in Little Italy and across from Dow's Lake. Expected completion of the 45 story building is April 2019. Unit price ranges from $291,000 to well over $1,235,000 of the 230 total units.

For more information about pre-construction condos within the city of Ottawa, please contact Matt Richling (sales representative with RE/MAX Hallmark Realty Group) by filling out the form below.

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Claridge Icon - Construction Fire

Photo Source: Ottawa Citizen/Kara Hayne

Photo Source: Ottawa Citizen/Kara Hayne

Construction fire at the Claridge Icon site at 485 Preston St. The full article from the Ottawa Citizen is below; read the full article here

Hazmat call, fire at construction site doused in Little Italy
- Megan Gillis, Ottawa Citizen, August 10th 2016

A fire that ignited spray foam insulation at a Little Italy construction site has been doused and fire and air tests turned up clear, although road closures are still in place, Ottawa Fire Services said Wednesday as the afternoon commute began.

Concerns about potentially-toxic burning insulation was behind the large perimeter established around the Claridge Icon project at Carling Avenue and Preston Street after a loud noise and smoke were reported at noon, a fire service spokeswoman said.

First responders called the hazardous materials team to the scene and closed Carling Avenue from Bronson Avenue to Sherwood Drive, and Preston Street from Pamilla Street to Prince of Wales Drive. Crews have since reopened Carling.

Firefighters wore the breathing apparatus they don during working fires during the safety perimeter while police asked that people avoid the area.

Witnesses tweeted that firefighters were trying to extinguish insulation that had been applied to the foundation at the condo tower that’s under construction.

Underground Condo Parking In Ottawa

As I write this, the weather channel is predicting almost 24 hours of straight snowfall with 25-35cm of snow. Last week we had the record 52 cm which fell in just over a 24 hour period. Yuck. This is that time of year when those who have underground heated parking are very happy - just jump into a warm car, with no snow to remove, or ice to scrape off.  

Underground Parking Ottawa Condo

The Basics

Most apartment style condo buildings have at least one level of underground parking in Ottawa while typically town house or up/down split style condos, have outdoor surface parking spots. The number of spots each developer must build will mostly depend on the zoning. Most spots are a standard width, and can fit a standard car (but not all buildings are the same - more on this later).

The parking garage typically has access to the main elevators (older buildings might have a separate elevator), along with some of the storage locker rooms and bicycle rooms or area. They typically are heated and ventilated. 

The Cost

When looking at pre-construction the price of a parking spot will first depend on the type of condominium (townhouse or highrise). For example - Valecraft Homes is including one outdoor parking spot for free with the unit purchase at Woodroffe Lofts and a second spot can be purchased for $10,000. Compared to Claridge who is offering an underground parking spot at an additional cost of $35,000 per space at Claridge Icon. 

Next, the cost might rise depending on location within the parking garage. Some builders will offer the premium spaces on level 1 for $5-15,000 more per space - on top of the $35,000. Not every builder does this, some save the premium spots for the large or penthouse units.

Keep in mind, there is also a monthly cost in addition to the purchase price. Since your percentage of ownership goes up in the building, your condo fees will rise as well. Some pre-construction buildings will project an additional $35-45 per month, while parking spots in some re-sale buildings can add $60-90 per month to your condo fee.

While no developer will share the true cost to build a spot, we have always been told it was more than they typically charged, up to almost double to cost - depending on how many levels below ground they need to go. Obviously outdoor surface spots will be a fraction of the cost, since there is less involved in the construction. Zoning requires a certain amount of spots be built per unit. It can range from 0.5 to 0.7 parking spots per unit - or more further outside the downtown core.

Restrictions

Keep in mind that not every unit is able to purchase parking when buying pre-construction.  Since the builder will build as few spots as possible, they will restrict which units can or can not purchase a spot. Typically this restriction falls on the smallest units. Assuming that the smaller unit is less likely to have a vehicle, compared to the large units with multiple residents who might require two etc.  Most builders will have a list for when larger units opt out of the spot, to allow the smaller unit owners the chance to purchase. However, when the building is handed over to the owners, you are then able to purchase a spot from another owner. 

Differences

Parking Garage Condo Ottawa

Obviously not every building is the same, and often these differences can be found underground. Some buildings include visitor parking - The East Market (180 York, 383 Cumberland, 179 George) shares 23 overnight or long term visitor parking spots and 12 short term spots. Builders started including spots for car share services such as VRTUCAR which allows the owner to have 24 hour access to a shared vehicle - without the cost of gas, insurance, and maintenance. Great if you walk to work and never use your car. If you are willing to spend extra, you can even find Valet parking! Windmill's The Eddy features "puzzle parking" system which mechanically parks your car for you. This allows the developer to have more spaces and lower the overall cost. 

No parking space is the same, some have posts or walls on each side, some have plumbing or ventilation equipmenthanging down. This is why it is important to choose your spot carefully, or atleast see it in person if possible. Many owners with larger vehicles (pickup truck or large SUV's) need to make sure they can even enter the garage! Always check it out!

Buying and Selling Parking

While not every building is the same (consult your lawyer), typically each unit (condo, locker, and parking) are all separate. Each one has a separate Property Information Number or PIN which allows you to buy and sell them / they are not fixed to that certain condo. We regularly will list parking spots and even lockers apart from the condo unit on the MLS. Depending on the building, the unit, and the selling strategy. Since it is re-sale, the price is negotiable - however remember that you can't just add the cost on your mortgage, you would need to pay cash. Typically we see spots selling for $24-35,000 depending on the building, location of the spot, and demand for parking. Lockers will typically sell anywhere from $4-7,000 per. 

That small square painted on the ground - Its never just as simple as it might seem. 

Questions about parking? Thinking of buying pre-construction or a condo in Ottawa? I would love to help you out. 

Claridge Icon - Construction Update

Claridge Icon Condos Ottawa

Located at 485 Preston street, (corner of Carling) in Little Italy and Dows Lake, Claridge's Icon has officially hit rock bottom. Well... Digging has hit the lowest part and crews are getting prepared to start building the parking levels and then the 45 stories. Housing 320 residential units plus commercial space in the lower podium - it will become the largest tower in Ottawa (after construction) at 485ft. Originally set with a closing date in December 2018, Claridge has moved the occupancy back to April 2019. Available units currently range from $286,000 to $1,250,000 for one of the few remaining penthouse units. 22 floor plans in total with most still available on select floors. 

For more information about pre-construction condos in Ottawa - contact me!

Claridge Icon Condos Ottawa Construction

Genworth's Metropolitan Condo Outlook - Winter 2015

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Genworth and the Conference Board of Canada has released the 2015 winter edition of its apartment condominium study that looks at eight metropolitan areas, including Ottawa.

For the full report and in depth look into Ottawa and the other areas, click here.

"Although inventories remained high in 2014, Ottawa apartment building permits nearly doubled during the six months to December 2014 compared with their year-earlier levels. As a result, the new apartment condominium market is set to pick up again in 2015, with starts forecast to increase by 9.9 per cent. In fact, construction is already under way on a number of new buildings this year, including The Bowery condominiums and Claridge’s Icon condominiums in Little Italy. The Icon condominium building will be Ottawa’s tallest. But this title may not last long. A new development proposed by Richcraft Homes, also in the Little Italy neighbourhood, would see the construction of three new towers, the biggest of which would be 55 storeys tall. Starts are expected to keep rising from 2016 to 2019, growing by a forecast average of 1.2 per cent per year. Absorptions are set to decline this year and next, albeit from a 2014 record high, and then begin to rise through the next few years, helping to whittle down inventories." - taken from the report.

Richcraft Joins The Tallest Condo in Ottawa Battle!

Richcraft Little Italy Towers

Next week Richcraft is going to be in front of the planning committee to get approval for the tallest condo building in Ottawa. The building will be located at 845 Carling, one of three buildings they are hoping to construct on the site which is the old Dow's Honda location. 

From Ottawa Citizen Article

From Ottawa Citizen Article

Currently approved and now under construction, Claridge's Icon holds (or will hold?!) the title for tallest condo building in Ottawa sitting at 45 storeys. Richcraft is hoping for a 55 storey(180 meters) building, along side a 45 storey (148 meters) and 18 storey (66 meters) sister towers, all containing approximately 1120 units, with 6,800 sq meters of ground floor commercial space.  Currently the entire Carling/Preston area is zoned for 31 storeys, which was approved last summer.

The main issue at this point seems to be over parking. Minimum parking for the complex is 675 residential spaces (91 commercial), however Richcraft is looking for an extra 100 spaces (766 in total plus the 91 commercial). The builder is also looking for an increase in bicycle parking spots to 566. Plus this complex will have direct access to the O-Train's Carling station, raising questions as to why the extra spots. 

Little Italy Richcraft Tower

Link to the Zoning Amendment

Link to the Wind Study

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Any questions about pre-construction condos? I would love to chat!

Claridge Icon - Construction Started - Sales Update

Photo from Claridge Icon Facebook Page

Photo from Claridge Icon Facebook Page

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Construction has officially started on the Claridge's Little Italy tower, Icon. Currently the tallest to condo tower in Ottawa at 45 storeys and 420 feet high (until Richcraft steals the title), which will see construction continue for the next four years (December 3rd, 2018).

Currently with about 25% sold, or about 80 units, Claridge is very confident that with the amount of time to build the project, they will have no issue in selling all of the units.

For more information on the project, visit the website ClaridgeIcon.com.

If you have any questions about this project, or pre-construction condos in Ottawa, click the button below.

Which Ottawa Condos have Pools?

Indoor pool for the owners at 200 Rideau St and 234 Rideau St, built by Claridge

Indoor pool for the owners at 200 Rideau St and 234 Rideau St, built by Claridge

While it might seem like the amenities rarely get used in a building, for those that take advantage of them, its like adding extra rooms onto your condo for free! (Well... yeah you pay for them, but still)

Lets look at which condo buildings around Ottawa have pools!

Claridge (especially lately) has been a big believer in amenities and nice big pool areas. Take a look at  Claridge Plaza (phase 1-4), La Tiffany (phase 1 and 2), Lebreton Flats (250 Lett),  Tribeca (pool under construction), and eventually Claridge ICON (est 2018), etc.

Urban Capital has started including resort styled pools with The Mondrian (324 Laurier) and the Hideaway (on Mcleod). 

Mastercraft Starwood, known for high quality amenities includes pools at SOHO Lisgar (300 Lisgar) and soon SOHO Champange. SOHO Parkway only gets a rooftop hottub with some of the best views of the city... (sarcasm...). 

Richcraft has built a few pools including, The Galleria (200 Besserer), The Galleria Phase 2 (238 Besserer), The Laurier (570 Laurier), and soon to be built The Bowery.

Other central buildings with pools include 90 George St, 160 George Street, 199 Kent, 500/530 Laurier Ave, 470 Laurier Ave, 556 Laurier Ave, 151 Bay, 20 The Driveway.... etc. The list goes on.

Currently we have a few units available with pools including, Claridge Plaza (234 Rideau Unit 1005, Mondrian (324 Laurier Ave Unit 2209) and two units at Tribeca (179 Metcalfe)

If you enjoy taking a dip and are looking for a condo with a pool in Ottawa, lets chat! I would love to help you out!



Claridge ICON - Building Update

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Yesterday Claridge Condos tweeted that "Our #ClaridgeIcon sales centre has moved to 200 Lett Steet. BRING ON CONSTRUCTION!" This is great news for those standing behind the future tallest tower (45 stories or 420ft) of Ottawa. Quoted in a recent Ottawa Citizen article, Bill Malhotra (founder and president of Claridge Homes) said that 71 of the 320 units (22%) in ICON have sold, which includes half of the penthouse units. 

ICON will be located at Preston and Carling, where Little Italy meets Dow's Lake. The building will house a restaurant on the main floor; the next two levels will be Claridge offices; and there will be a party room, yoga room, guest suites, a billiard room and a swimming pool for residents. 

Construction is set to start December 1st, 2014. Occupancy is set for December 3rd, 2018.