Smart House Project Cancelled

Rumours about the fate of the micro condo building have been circulating since the beginning of the month and we finally got the official word late last week. Urban Capital has decided that Smart House will be cancelled and turned into a rental building. For those who have purchased, deposits are being returned. There is no information behind who is involved with the rental building, but we do know that it will not be sold unit by unit.

Urban Capital will now turn the focus to the upcoming James Street Pub building which we expect to be launched late spring or summer 2016 at the earliest.

Questions about buying pre-construction condos in Ottawa? Fill out the form below, I would love to chat.

Condomania - Minto Offering Big Incentives

Offering discounts of up to $50,000 on select units, Minto is making it more attractive than ever to purchase a unit at one of their developments. Only a few units are included (or should we say remain) with more expected to be available during the one day event. Dubbed "CondoMania", Minto is holding a sale at the Glebe Bank street sales office on Saturday October 24th at Noon till 6pm. The projects included are Lansdowne, Beechwood, and Upperwest! In addition to the up to $50,000 savings, buyers also will receive free parking and locker PLUS a pair of RedBlacks 2016 season tickets. 

For more information about the three developments, or to see sample units and pricing click here. If you are looking for assistance with purchase, fill out the form below - I would love to help.

2015 Housing Design Awards Winners

Put on by the Greater Ottawa Home Builders Association, the 32nd annual Housing Design Awards are so those in the industry are able to go head to head for recognition of their work in new home and condo construction and renovation in Ottawa. The winners include the city's top builders, designers, architects, and renovators, all competing in a range of categories based on size, budget, and style. There are over 50 awards handed out with some even chosen online by the general public. 

View fullsize

The Wavell Kitchen by Linebox Studio

A few of the winners this year include:

High-Rise Building (50 Units or More)
MInto and Barry J Hobin Architects for The Vibe (Lansdowne Park)

Mid to High-Rise Unit
Claridge Homes for the Lilac model at Fusion Development at LeBreton Flats

Custom Contemporary Kitchen (241sqft or more, $74,999 and under) 
LInebox Studio and Lake Partnership for the Wavell Kitchen

For a full list of this years winners, visit the Ottawa Citizen article here.

ARTHAUS - Construction Groundbreaking

Ottawa's Mayor Jim Watson was on hand for the official groundbreaking ceremony of the Ottawa Art Gallery and Art's Court project. Montreal based DevMcGill has announced the name as ARTHAUS which will feature 89 residential condominium units located above a Le Germain Hotel on the lower floors.

No sales launch date for the residential component has yet been set - rumours say early 2016 to mid 2016.

For everything about ARTHAUS visit the ARTHAUS page HERE.

ARTHAUS Residences - (Arts Court)

Live painting of the exterior rendering during launch.

**For up-to-date ARTHAUS related, visit the ARTHAUS section**

Earlier today we learned the official name of the Art's Court condo complex. Built by Montreal Developer DevMcGill, ARTHAUS will be a complete mixed use building with Le Germain Hotel occupying the lower half, and residences starting on the 15th floor (as seen with the balconies). The modern building will also feature an Art Gallery and teaching rooms for the University of Ottawa. 

There will be approximately 98 suites in the residence which will range from 450sqft to 1100sqft. Union31 was brought in to design the interiors of the building/suites.The building has already started construction and will be expected to be completed in late 2017. Units are expected to go on sale later this year or first thing 2016. 

Looking for more information about ARTHAUS residence or downtown condos? Fill out the form below or email me directly Matt@MattRichling.com 

Minto's Vibe Wins at 2015 Ottawa Urban Design Awards

Last night Minto's Vibe condominium took home the Award of Merit in Urban Infill for Mid to High Rise building at the 2015 Ottawa Urban Design Awards. Located at 118 Holmwood, it is the first of two towers for Minto at the new Lansdowne centre in the Glebe. The Vibe is fully sold out and only select units are still available in phase two.

The Jury had this to say about the project:

GW: The building marks a departure from one neighbourhood type to the retail/sports focus of Lansdowne Park. The two storey retail base is noteworthy.

CP: The Vibe drew a lot of discussion for its self conscious attempt to create activity in the body of the building itself. I found it unnecessary considering that the base could have benefitted from more care, variety, openness and public space. However the building is really the gateway building to Lansdowne Park and as such is a critical piece of the overall urban revitalization. Its merits are in its density and mixed use programme. Its secondary role as an entry beacon to the Park seems to temper and give value to the eclectic nature of the execution. It contributes to the destination character of the site.

Other winners include Modbox Developments and Linebox Studio for its collection of three modern town homes on Springfield in Lindenlea, winning the Award of Merit for Urban Infill Low Rise. 

Learn more about the winners HERE. Interested in downtown Ottawa condos? Fill out the form below, I would love to chat!

The Corners On Main - Sales Update

Domicile's newest project that will be located on Main street, has been getting big attention since it first launched in August. The attention is due partly for the history (CLICK HERE to read the full history of the site), partly for the location (very central or "city meets tranquility" - tagline from Domicile), but also how well it has been selling. At this point The Corners On Main is almost 50% sold out of the 74 suites for phase one - which is very good comparing to other projects across the city.  Buyers still have most floorpans and views available, with prices ranging from $228,300 up to $594,900. 

Domicile has said they are ahead of schedule for phase one, and has started working on getting phase two ready to roll out.

Quick facts:
- Name: The Corners On Main
- Developer: Domicile
- Site Location: 141 Main Street
- Completion Date: fall/winter 2017
- Units: 74 suites in phase 1, 70 planned in phase 2
- Levels: 6 and 4 in phase one
- Maintenance fees: 42cents/sqft/month, $33/month/per parking, projected
- Parking: $33,500 if required/available (not all units are)
- Smoke Free and Pet Friendly
- Amenities: two guest suites, lounge, rooftop terrace, fitness and yoga studio, pet wash station, car wash area,

Looking for more information about The Corners On Main or pre-construction condos in Ottawa? Fill out the form below - I would love to chat.

DND HQ Move Further Delayed

The Ottawa Citizen has reported that the move of the Department of National Defence and Canadian Forces to the old Nortel campus on Moodie Drive has fallen behind schedule and will now take several years to complete.

The plan was supposed to start last year, but DND spokesman Dan Le Bouthillier said to the Ottawa Citizen that the "effort is complex and will take several years to complete."

CLICK HERE for the full Ottawa Citizen article

This is just before Andrew Leslie, the Liberal candidate for Orleans, suggested during a campaign speech that he wants a new government complex built in the east end. CLICK HERE for the full Ottawa Citizen article. 

Military and looking to make a move? I would love to chat. Fill out the form below or email me directly.

Domicile's Kavanaugh - Sales Update

Domicile's Kavanaugh, located on Beechwood has only 18 units remaining of the original 124 units. The building is now occupied and available units are a decent mix of size and floor height. Units start at $284,100 for a one bedroom plus den (613sqft). Parking is an additional $31,000 if required. Quick occupancy can be provided!

For more information about condos on Beechwood, or pre construction condos across Ottawa, fill out the form below.

Minto Beechwood Live Camera

Minto has set up a live construction camera for its project on Beechwood. While not a live video feed, it still gives you a chance to check out the progress without leaving your home. Minto Beechwood is currently about 70% sold out with approximately 37units remaining. Located at the corner of Beechwood and Mackay, Minto Beechwood will be a 9 storey, 126 unit building. Expected completion is winter 2016 with excavation now complete and construction already underway.

For more information about Minto Beechwood or pre-construction condos in Ottawa, fill out the form below - I would love to help you out.

Congratulations On The Engagement! Now What?

First off - Congratulations on the engagement! Once the champagne wears off and the dust settles, you start to think about what comes next. Obviously the wedding will take over - but what about where you will live? Need something bigger? More closet space?

What about the space you currently have - how much will it sell for? Could you rent it? At this point you have so many options, you need to narrow down what would work best for you both!

Thinking about buying - you want a house? three or four bedrooms? babies?? schools?

While this might all seem overwhelming - I am here to help you both navigate through it. I have been helping clients like you for almost 10 years and am focused on selling downtown condos and helping buyers find exactly what would make sense for the next stage! 

I would love to chat! Fill out the form below and we will get started.
-Matt Richling

“When it comes to buying/selling/renting you’ve found the right place. My girlfriend and I worked with Matt Richling to find the perfect condo in the right neighbourhood. I work in software at Shopify and she is finishing up her residency through OttawaU at the Civic Hospital. We were able to find a condo that was walking distance for both of us and had enough space. Matt was delightful to work with and helped throughout the entire process, I couldn’t have imagined doing it without him.”

— Taylor and Brenda

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SOHO Champagne - Sales Promotion

Hoping to jumpstart sales of the last few units as we move into the fall market, SOHO Champagne is now offering a last minute promotion for buyers. Aside from lowering the deposit amount to $10,000, they are also offering up to $50,000 cash back on closing (depending on the unit), no-condo fees for one year, and possible quick occupancy on remaining units. The promotion is being advertised as ending October 1st, so for those interested, better move fast. Currently there are approximately only 28 units left of the 200 in the building, ranging from 535sqft 1bedroom up to a 1,525sqft two bedroom with terrace.

SOHO Champagne is located at 111 Champagne Avenue South, just steps from Preston Street. This is Mastercraft Starwood's third SOHO building in the city, after SOHO Lisgar and SOHO Parkway. Designed by Architect Roderick Lahey Architect Inc, and interior designer is Gluckstein Design. The building now has occupancy and the 5 star amenities are almost completed.

For more information on the remaining units at SOHO Champagne or about pre-construction condos in Ottawa, fill out the form below - I would love to help!

SOBA - Construction Underway!

**For more information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

After a very quiet spring and summer, construction has officially started on Catherine street for SoBa condos. Being built by Brad Lamb of Lamb Developments (Toronto), this is the second building in Ottawa by the "King of Condos", first being Gotham located on Lyon.

We have been told that the construction crew is currently digging the Slurry Wall, which should last about 100 days for a project of this size. Then the main excavation is able to begin. A building permit was issued on August 27th 2015 to Doran Construction for a partial permit for excavation and shoring and part foundation only. Construction is expected to take two years and be completed in 2017.

Here is the construction site as of this morning - a screen shot from the live youtube camera of "Jimmy Joners" - Click here to view.

Interested in learning more about SoBa condos or downtown condos? I would love to chat - fill out the form below or email me matt@mattrichling.com

Is The Fall A Good Time To Sell My Ottawa Condo?

NOTE: I don't mention the possibility of price changes. I don't have a crystal ball and not able to tell the future. Maybe prices will rise, maybe prices will fall. This article leaves price factors out of the equation.

Yellow school busses, #PSL, and football are all back which can only mean summer is almost over. This time of year we are finding people coming back home from vacation, back to work, and noticing that they would like to make a move before winter (aka the deep freeze).

A common question we hear around this time is from those who are thinking of selling, but are wondering if the fall is a good time to sell. Every person's situation is different, but generally the answer is yes. Typically the busiest time of the year is the spring/early summer, followed by the fall. This is when we see the most activity of people buying and making a move - more buyers!

Should I wait till the spring to sell my condo?
Some ask if it is worth it to wait till the spring to sell their condo. Depends, can you wait? (some can't - surprise baby (nine months isn't a surprise but you get the idea), divorce, tenant vacated...etc. If you have the time to wait use it wisely. Use this time to prepare the condo to show its best. Get an outside perspective of what is holding the unit back from showing a 10 out of 10. Are the floors scratched up, need a coat of paint? Maybe it is worth the cost to repair - maybe it is not. Typically people forget that staging take a week or more to arrange and have set up, all time that should use to plan.

Who is the buyer?
When I work with clients to list a condo for sale, I always sit and figure out who the potential buyer(s) will be. Is this an investment property, mature couple, young professional, etc. When you are looking at selling, think about that buyers life... Typically it is different than the standard family with two kids, so keep in mind the condo buyer isn't subjected to back to school season, and December holidays. While we are still impacted by weather (snow, cold, rain, etc) in Ottawa condo land, we typically still have buyers looking throughout the winter. Our buyers are not as affected by weather as much - "There is No snow in condo land!". Take a look at your life to get a sense of the possible buyer - do you travel during the summer, or visit family around holidays? Long weekends are usually very busy, or very slow - depending on the time of year! Use this to plan your dates!

SELL IT NOW!
For those who want to sell now a few things to keep in mind. While it is important to have the home prepared and showing as best as it can, it would depend on how long would it take to get there and how much effort you are willing to put in. You might only be willing to invest a certain amount of energy and time to getting it show ready. Don't waste time. If you are going to list now, don't waste a month - buyers are out looking now. Get it ready and get it listed.

So... Fall?
There is no clear answer since everyone is in a different situation. The fall is the second best time of the year to sell. So if you don't/can't/wont't wait another seven months - then give me a call and let's get things started. If you are thinking of waiting, or need a better idea - let's chat. I can help you decide what might be best, or what you are looking at. 

Do I Need A Concierge In My Condo Building?

One of the first impressions that you will have as a buyer is often when you enter the lobby and are greeted by the concierge. Big smile and a friendly "hello" go a long way. However not all condo buildings in Ottawa have someone sitting in the lobby. In fact there are only a couple buildings in Ottawa that have a true concierge. Those buildings that have someone in the lobby, typically employ security guards who also handle resident requests (move-in's, packages, etc.).

Up until recently, having someone at the front lobby was a big bonus for a number of reasons: 
- Ensure security, and are able to see who is coming and going, plus keep an eye on the common area's.
- Handle move-ins and elevator/loading areas.
- Pass keys or assist with entry for cleaners or repair persons. 
- Booking or reserving common area's.
- Receive packages and oversized mail/deliveries. 

The biggest one for me aside from providing the extra bit of security, was helping receive packages and deliveries. Online shopping is on the rise and having to track down a parcel after it has been "attempted" to be delivered is a huge pain. 

Enter Canada Post!

The photo on the right is in the lobby for 205 Bolton (Sussex Square) which is one of the downtown buildings that you will find the Canada Post Parcel Box. This now allows them to securely leave oversized boxes and packages, without making you head to the nearest pickup location! 

The mail person leaves a notice in your mailbox along with the key for the specific box that contains your package. Then once retrieved just drop the key back in the slot, and voila!

Obviously, the parcel box does not say Hi, or it wont hold the door when you have your hands full, but it's a start! You can find the boxes in a number of buildings across Ottawa, typically next to the mail room.

As a buyer, do you feel that you need a concierge? 

The Bowery Promo Event

New promo has just announced directly from Richcraft for anyone who purchases The Bowery. Buyers have the choice between no condo fees for one year, free storage locker, upgraded designer package, or hardwood in the bedroom.

While you might have a preference on which you would prefer, it will depend on the size of the unit to decide which option would be the best option. No condo fees for one year is typically a rebate or discount off purchase price. Easily calculated for the size of the unit - $0.36sqft 800sqft = $3456/year or 400sqft = $1728/year. Storage lockers are priced around $3,000. Then the designer package and hardwood depend on the unit. 

Questions about the building, units, or purchasing pre-construction condos in Ottawa? I would love to chat - fill out the form below or email directly Matt@MattRichling.com.

Domicile's Corners On Main - Grand Opening and Pricing

Domicile has announced the date for its highly anticipated - The Corners On Main, which will be located on Main Street. Read all about it HERE. 

For those looking to get first crack at available units, Saturday August 8th at 12noon, at the Kavanaugh Sales Centre located at 86 Beechwood Avenue. Floor plans and more details will be released then.

Domicile has released the price sheet (see below) for the available units and one floor plan for "The Centennial" (935sqft, two bedroom, one and a half bathroom, plus terrace). 

One bedrooms range from $261,600 for the Glenora (554sqft) to $389,200 for the Hazel (850sqft). Two bedrooms range from $411,100 for the Marlowe (930sqft) up to $490,900 for the Brantwood (1105sqft). "Two bedrooms plus" range up to $594,900 for the Merritt (1431sqft with terrace). Parking is an extra $33,500 but not available for the "Pied a Terre" or studio units. Domicile is estimating condo fees at 42 cents per square foot, and $33 per month per parking space.

For more information on condos for sale in Ottawa, or assistance with purchasing pre-construction condos - Fill out the form below! 

CLICK TO CONTACT

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University Of Ottawa Med School Shuttle Service

One thing that incoming med students and those coming for an elective quickly learn is that the main med school campus "Roger Guindon Hall" is detached from the main university campus. While not far, this distance becomes a factor when deciding housing and where to live. Most med students are also not aware about the shuttle service that the university has set up to get students and employees around to the different sites. 

For the 2015-2016 academic year, starting September 8th 2015 till April 29th 2016 the shuttle leaves both main campus and Roger Guidon Hall every 30 minutes from 7:30am till 4:30pm Monday to Friday. On Monday to Thursday it is extended from 5pm to 10pm leaving every hour.

Things to note:

- The shuttle leaves from Main Campus, stops at 200 Lees, St. Pauls on Main Street, and then stops at Roger Guindon Hall (RGN). 
- The shuttle does not run on weekends, Labor Day, Thanksgiving, Family Dat, Good Friday, Easter Monday, OR from December 22nd 2015 to January 1st, 2016.
- During the first few weeks of September the shuttle between Main Campus and Roger Guindon Hall may sometimes fill to its limit and you may be required to wait for the next bus (usually 30 minutes later). This is especially true from 8:00-9:30 and 12:00-14:00. If you would like to use your U-Pass with public transit instead, please use the Travel Planner at www.octranspo.com to choose the most convenient route.

CLICK HERE for an updated version of this information from the University of Ottawa. See the map below for the map version of the stops.

Should I Sell My Condo With A Tenant?

This is a pretty common scenario that I am seeing right now here in Ottawa. An owner wants to sell their condo, but has a tenant inside that has a number of months left on the lease. The owner is trying to figure out the best thing to do. Keep in mind I am going to answer this quite generally - every scenario and property is different (things like how the unit shows, the tenant, list price, area, etc will all come into play).

First thing I would ask is - Who is the potential buyer for the condo? Owner, Investor, etc? Most likely it is going to be an owner looking to occupy the unit. Depending on the price/unit, the majority of buyers we are seeing are not investors looking to rent out the unit, but owners looking to move into the unit. That being said, most people are not willing or able to buy a place, pay the mortgage (the costs will not cover the rent) and pay to live somewhere else, until the place is vacant. As a buyer, the risk you are taking with the tenant is quite high (yes, you can vet the tenant and verify everything, but the risk is still there). 

Why not an investor? Well, there is nothing certain in real estate, so knowing my luck the next buyer will be an investor - BUT generally at these prices, resale units do not cash flow under standard financing terms. I have units that cash flow (after ALL expenses) $600 month, on a $250,000-$260,000 purchase price - so compare to the one beds that list around the same price, you would be loosing money every month.

Back to the original question... Put yourself in the shoes of the buyer and ask yourself - Would I rather be provided vacant occupancy on closing, or have to worry about kicking out (or waiting for the lease to end) some tenant? Especially when there are other options to buy that could be currently vacant. 

Most downtown Ottawa condo buyers are looking for 30-60 day closing periods. So typically once the tenant gives the 60 days notice, then it starts to make sense to list the condo for sale. Since you will be able to give a reasonable time for the tenant to have vacated. More than two months notice and 

Tenant just gave me her 60 day notice to leave! Now what?

This is when I get to work - how does it show? If it shows badly would it make sense to wait until they leave, paint, stage, and list it, or sell right now? Is the tenant cooperative? I value communication as one of the most important aspects of my job. Communication with the owner, communication with the other agent, and obviously communication with the tenant. If the tenant is unhappy, they won't give two shits about how the unit looks for a showing, and will ensure that 24 hours notice for every showing. When you are selling with a tenant, you want the tenant to be part of the team and on good terms. Right from the start, we make sure that the interactions with the tenant are positive, honest, and open. We need their help to sell!

There is more than two months left, what are my options?

If you still have more than two months remaining on the lease, obviously you can still list the unit for sale, but finding an interested buyer will become much harder. Keep in mind there is always negotiations with the tenant. While you can't kick a tenant out during a lease, they are not able to leave early - UNLESS you both agree. What is $1,000, the cost of movers, or sometimes even just a case of beer in the grand scheme of things? While you need to make sure that the timing is right - last thing you want is to let the tenant out of the lease, and then the deal falls apart and you have a vacant unit and no buyer. Sometimes buyers love a certain building and would consider moving to another unit within! This is all part of that communication with the tenant, and seeing what options you have as the landlord.

Thinking of selling your investment condo in Ottawa? I would love to chat more. You can reach me at matt@mattrichling.com or fill out the form below.

2015 Residency Moves Wrapping Up - Med School Starting

With just over a week before residency starts, almost all of the incoming R1's are now moved in, or flying home (from summer vacation) to move this weekend. What a crazy spring it has been, I was lucky enough to help over two dozen incoming residents here in Ottawa, plus another 49 across Canada. 

Across Canada? Yes, I can help match you with an agent to assist you no matter where you matched. East coast to West coast and for buying and for renting. These colleagues were specifically chosen because they understand the process of residency and have helped med students or residents regularly - plus are top producing agents in their location.

Now with September getting closer, the focus moves to medical students and their families who try and navigate the options for housing across the city. Four years of renting can be a lot of money (do the math $1600 month / 4 years = $76,800) placed in some landlords pocket. More if the student does residency here in Ottawa! But does buying make sense? Should I buy?

OR it could become a rental property if the student moves elsewhere. Properties in the proximity of the campus have some of the best occupancy rates in the city. Many families choose to use this property or downpayment as a gift to the student. 

Moving to Ottawa and looking at your options for housing during med school or residency? I would love to chat. Fill out the form below, or contact me directly Matt@MattRichling.com.