Templar Flats - 6 floors - redevelopment/infill project on King William
 

http://www.templarflats.ca/

Another project by CoreUrban. Yay!

http://s18.postimg.org/aqm37beex/IMG_4244.jpg

In fill is good.

Looking very good and it's going to be rentals? Even better. Also really like how the architectural style matches the building that used to be there. Hopefully the rentals will be on the not too expensive side.

Thank you CoreUrban! There's no end to it. And they've got it right - one small to mid-sized project at a time.

The sign says:-

Construction
begins Spring ?????

Spring 2015.

It would appear this project will be physically connected to the adjoining building they've been working on. Sexy.

http://i57.tinypic.com/2afx75h.jpg
http://i58.tinypic.com/34rav77.jpg

Looks awesome.

Here's the background image from the website...
http://i62.tinypic.com/35a263t.jpg
Source

I saw the signs while I was out at Art Crawl. Looks great!

Pic I took when I walked by this evening.

http://i.imgur.com/aFYSoPa.jpg

Why rentals?

This looks like a spot that could command a bit of a premium and be owned.

Pricing is listed on their site. Starting at $950. It says each unit has its own furnace, so my assumption is that the price will not include heat/ac.

I think they made them rentals to keep prices down in the area and to make the units more accessible. This is a good thing, as Hamilton needs more new rental units.

$1000/mo. is pushing it a little. I have no real aversion to renting per se but when you hit that sort of number, I do wonder whether it doesn't make more sense to go the mortgage route...

I think there are a lot of people who just don't want to buy, you know?

^Yeah I definitely get it. I'm one of those who often finds himself arguing in favour of renting to buying.

I've never spent quite that much on a rental, though. Close but not quite - that's a little out of my comfort zone at least for the Hammer anyway.

5% down payment minimums aren't much of a barrier any longer. And money is dirt cheap right now. At $1000+ for a small one bedroom, the tilt towards mortgage vs. rent becomes much more obvious in my opinion.

Apart from that, I think there needs to be more of a massing of owned condos in the core- most buildings I've ever lived in that have been majority renters or rental only, seem to deteriorate much more quickly than majority owner buildings. Just my experience.

It's to much $1000/mo.

I legitimately don't understand why there is such angst towards these being high end rentals. What's the difference between this and a condo being bought by a speculator and renting it out for a similar price? We'll likely see lots of that with Bella Tower and the Connaught.

This is roughly the price that units in Urban West and Stinson are renting for, so why the huge uproar?