Chateau Royale For Sale
 

Just got word from a good Source in the Real Estate biz that the owners of the Chateau Royale are in deep financial trouble and have put the remaining 110 unsold units for sale.

They met this week to hammer out details of the sale and hope to have it sold ASAP. Aparently the owners are going to try a bulk sale of all the units.

Oh so the units will sale cheaper? Cause the asking price for a lot of these units were very pricey.

110 units?? wow.

I knew those guys were in trouble years ago.
I hope to heck that a condo developer from Toronto buys it. Get someone who knows what they're doing in that market.

110 unsold units?

That sounds way too high. How many units does this place have?

almost 200 total units.

http://chateauroyale.ca/index.html

Yikes... that's not good.

I wonder why it's not selling well. I've been in some of the units and they're pretty nice (as far as condos go). The prices didn't seem too bad, especially considering it's convenient location - although I don't know what the condo fees are set at.

Yeah, 110 unsold? Holy shnook. If that's true, that's nuts.

My wife and I went to an open house there 3 years ago. They clearly were not good salespeople. They showed a unit that was leaking. The decor of the kitchen looked cheezy. They priced it too high. Their lobby was bizzare. They should be commended for trying but they didn't know how to market. The Core Lofts people on the other hand did an amazing job. On the first weekend of sales they sold more than half. The model suites were stunning. We bought one of them. Marketting is so important.

I agree, 80% of selling a new project is marketing and presentation. The problem with the CR developers is that they were a bit out of their element. When you look at condos in Toronto, they are selling lifestyle first and the condo second.

I also lament the fact that they did not re-use the curtain wall system used in the old building. Floor to ceiling glass is a real important selling feature in urban highrises. I also think the repeated delays in occupancy really hurt them, people gave up and went elsewhere.

Surprising, I wouldn't expect too many more downtown condo projects to go ahead with this one sitting mostly empty. It's a very ugly building though, I've always thought the top looks unfinished.

http://i84.photobucket.com/albums/k2...ale/100083.jpg

the top is unfinished...go back over by John St and look up sometime.
I don't think this project will have any impact on other folks doing downtown projects. Someone already mentioned Core Lofts....a group from TO who knew what they were doing and it was the fastest selling condo project in Ontario the year it opened. A 5 minute walk from CR.
Again, look at City View Terrace - a Hamilton company...botched it all up...small, narrow units, tiny balconies, no street presence AT ALL at their main corner. I love the Hammer, but it's quite obvious our builders only know one thing - cheap, suburban crap.
Of course, CR was done by an outfit from Kitchener. I've been to Kitchener. It doesn't surprise me that they had no clue what they were doing either.

The inside of that building is really ugly (the front lobby is pretty tacky looking). The granite countertops in the units seemed pretty cheap too.

http://www.chateauroyale.ca/images/gallery/img01.jpg
from www.chateauroyale.ca Alice in wonderland?

Sooo true! Many of the better-looking loft and condo developments here have been done by Toronto-area developers who have lots of experience and deep pockets. The local one's usually build something tacky and poorly designed. Hopefully Hamilton and Kitchener will continue to see more downtown investment from Toronto developers. Eventually our local builders may have to raise the bar to compete (crosses fingers).

They also misspelled it. Chateau Royal would be correct.

I'm pretty sure the E at the end is correct.
They wanted it to be "Roy-al" not "Roy-ul"... Royale is more regal!

I have friends that rent, and the Tiger-Cats actually rent units for players too.

When we looked into the bldg (when we moved back from TO), our sales guy was TERRIBLE! He kept taking phone calls while "showing" us units, all he talked about was how he hated working in the retail industry, and eventually (after about 20 mins and 3 units) asked us if we could venture around the bldg ourselves as he had "other stuff to attend to".
They didn't even have floorplan pamphlets for most units, and the couple we got were covered in paint/drywall. hahaha

Needless to say, we were much happier with our "Olympia Experience"! hahaha

"Royale" is the feminine form, whereas, Chateau is a masculine noun. I never noticed until I was walking by with a visitor from Montreal who found it kind of amusing. It is pronounced the same, but without the E on the end, we would all mispronounce it!

hehe as a fluent French-Canadian, I also noticed. But like you said, most people in Hamilton wont. I think they just liked the way "Royale" sounded over "Royal". And unless one speaks french, they wouldn't pronounce "Royal" the franco way... they'd say roy-ul, the anglo way. Their only solution: add an "e" hehe
And it drives me NUTS when people say "La Chateau" ughghhh... it's LE, dammit!! hahaha

They should add a ground level cafe to sell people shots of 'expresso' on the way to the Go station.

That spot would be great for a cafe but it's been empty since the place finished construction.