The Strand Condos at 429 Somerset Street

[AiRON]

Good evening everyone! I’m AiRON - long time lurker, first time poster.

I’m looking at buying my first place and my search always seems to bring me to The Strand Condos at 429 Somerset Street. I love the central location and the prices aren't as high as the new builds I've seen.

I’m wondering if anyone has any information on the building. If you live there or have lived there, how do/did you like it? Are there any weird issues with it like poor sound proofing or bugs? I understand there’s currently a lawsuit against the builder, any details on what that’s about? (I searched for a thread on the building but came up empty - if there is one I apologize)

Thank you!

[cr872190]

Originally Posted by AiRON

Good evening everyone! I’m AiRON - long time lurker, first time poster.

I’m looking at buying my first place and my search always seems to bring me to The Strand Condos at 429 Somerset Street. I love the central location and the prices aren't as high as the new builds I've seen.

I’m wondering if anyone has any information on the building. If you live there or have lived there, how do/did you like it? Are there any weird issues with it like poor sound proofing or bugs? I understand there’s currently a lawsuit against the builder, any details on what that’s about? (I searched for a thread on the building but came up empty - if there is one I apologize)

Thank you!

I would be very cautious about buying into a condo at that age. The building is turning 12 years old next year and condo fees are at an average of $450 from what I can find. You can expect that to rise significantly over the next few years as windows need replacing, roof work gets done and mechanical repairs. I personally would never buy into a building at this age without interrogating the building management company about what work is expected to be done in the near future. Run yourself a cost analysis, it might be worth it to pay a little more for a newer building to save yourself the headache of rising condo fees or surprise charges.

[MattRichling]

Originally Posted by AiRON

I’m looking at buying my first place and my search always seems to bring me to The Strand Condos at 429 Somerset Street.

While I am not suggesting to buy or not buy in that building... You can get a great deal on the buy if the building is going through some issues (whether they are current or fixed). Many buyers will run when they hear lawsuit/special assessment/etc. which can make the building/unit hard to sell. Just make sure to examine and truly understand the issue before making a judgement call. Sometimes the risk can be worth it, other times not.

Edit... at a certain point in the "lawsuit"/talks, they enter a period where there is no new information. (forget what this is called). So it can be frustrating and hard to know what is going and how things are progressing. Talk to as many people/agents/owners as you can and try and get the full picture as best you can.

[rakerman]

All condos have pluses and minuses.

The Strand is a 2003 build from Claridge, concrete with brick facing.
Not the current style, which is concrete with all-glass curtainwall, but all-glass has its issues
http://www.theglobeandmail.com/video...ticle21571875/

[AiRON]

Thanks for the feedback everyone, much appreciated.

[ggb]

Helle everyone! I'm a first time buyer and I've perused this forum for quite a while.

I'm looking at buying a condo and the building at 429 Somerset, The Strand, intrigues me. Does anybody have an opinion on this building?

People who've lived there, how did you like it?
Are there any pertinent issues to be made aware of (e.g. lawsuit, etc...)?

Thanks

[McKellarDweller]

Originally Posted by ggb

Does anybody have an opinion on this building?

I am quite familiar with the building, due to my career in real estate, and have been it a few times on top of walking by it frequently and it coming up in MLS searches.

This building is a good way to buy into a downtown location and get a spacious unit at a low price per square foot, and relatively low condo fees. The trade off is that the finishes on the interior are very basic, and the exterior design is substandard. I asked a few family and friends what they would think if I bought in here when we are walking or driving by, and the feedback I got was not good. The building was opened in downtown Ottawa in 2004ish, and looks like it dates to early 1990s in a cheap northeast Toronto suburb. In addition, units on the north side have no views, and among the lowest natural light you'll find downtown - suitable more for investor/tenants than an owner occupant.

If aesthetics aren't a concern, it's hard to beat the $/SF of units in this building.

[1overcosc]

If it dates back to 2004ish, wouldn't the condo fees start creeping up by now to pay for repairs? Unless this condo board is one of the few who actually bothered to properly save up for future expenses. For stuff being built now this is a lot less of an issue as the laws are much stricter on this, but back in 2004 the laws were very lax.

[AiRON]

I have owned and lived at The Strand for almost two years now after moving from a condo building (Plaza 2) in the market. I have few complaints and like it a lot more than my old building despite that one being newer and having all the bells and whistles.

The Strand has spacious units, low condo fees (per sq ft), reasonable rules, friendly residents and a great staff. (all of which cannot be said of Plaza 2) I also much prefer the location. It is true that the unit interiors are a bit dated and there are few amenities - neither bothers me much personally. I live on the south side so have no issues with the amount of natural light.

The Condo Act of Ontario came into force in 2001 so there is less to worry about in terms of financials in buildings built after that. Nevertheless, every building has issues at one point or another. I like to play it safe and have some money squirreled away in case anything major arises.

All I can say is figure out what is important to you and find a building that suits you. The Strand offered me a second bedroom, a second bathroom, a parking space and a better location for the price of my other condo. No regrets and would definitely recommend it. Good luck!

[mc_ottawa]

Originally Posted by AiRON

I have owned and lived at The Strand for almost two years now after moving from a condo building (Plaza 2) in the market. I have few complaints and like it a lot more than my old building despite that one being newer and having all the bells and whistles.

The Strand has spacious units, low condo fees (per sq ft), reasonable rules, friendly residents and a great staff. (all of which cannot be said of Plaza 2) I also much prefer the location. It is true that the unit interiors are a bit dated and there are few amenities - neither bothers me much personally. I live on the south side so have no issues with the amount of natural light.

The Condo Act of Ontario came into force in 2001 so there is less to worry about in terms of financials in buildings built after that. Nevertheless, every building has issues at one point or another. I like to play it safe and have some money squirreled away in case anything major arises.

All I can say is figure out what is important to you and find a building that suits you. The Strand offered me a second bedroom, a second bathroom, a parking space and a better location for the price of my other condo. No regrets and would definitely recommend it. Good luck!

Thanks for the good summary of your experience thus far with the building. Do you notice any major road noise? I suppose that is pretty arbitrary, but I would imagine Kent being quite busy during the rush hour, and much quieter otherwise?

I noticed that the condo fees seem quite fair. Any idea of there are re-assessments on the horizon, or whether the board seems to be properly managed?

[1overcosc]

Originally Posted by mc_ottawa

Do you notice any major road noise? I suppose that is pretty arbitrary, but I would imagine Kent being quite busy during the rush hour, and much quieter otherwise?

Road noise is not generally something to worry about. Because it's mostly white noise, most people will just get used to it after a while even if it's loud.

[2ndAveWest]

Does anyone have any more information about the LAT Hearing against Tarion? I am interested in one of the units but has concerns about this. Also, anyone is aware of any major repairs coming up?

Thanks.

[fratopia]

Originally Posted by AiRON

Good evening everyone! I’m AiRON - long time lurker, first time poster.

I’m looking at buying my first place and my search always seems to bring me to The Strand Condos at 429 Somerset Street. I love the central location and the prices aren't as high as the new builds I've seen.

I’m wondering if anyone has any information on the building. If you live there or have lived there, how do/did you like it? Are there any weird issues with it like poor sound proofing or bugs? I understand there’s currently a lawsuit against the builder, any details on what that’s about? (I searched for a thread on the building but came up empty - if there is one I apologize)

Thank you!

Wondering if you ever ended up buying in Strand and whether you had any updates?

[Count Bla]

For Fratopia and others researching this condo building (Somerset and Kent), in its first years it had another name, quite possibly Soho (not to be confused with the other more recent SoHo projects in town).

[Chris-R]

Originally Posted by Count Bla

For Fratopia and others researching this condo building (Somerset and Kent), in its first years it had another name, quite possibly Soho (not to be confused with the other more recent SoHo projects in town).

The condo was marketed before construction as the "Soho Euro Flats" and following a decline in condo sales in the Ottawa market (2001-2002), the name was changed to The Strand (Winter 2002/Spring 2003), the project was reimagined somewhat, and sales picked up sufficiently to build. Disappointing pre-sales in 2001 and 2002 caused Malhotra to muse that he'd construct it as a rental if he could get provincial funding (which never happened). It was consciously aimed at the "young urban professional" who wanted out of the rental market, but who could not afford a building with many frills and luxuries.

(Compiled from Ottawa Citizen, October 13, 2001, September 13, 2002, February 22, 2003, October 18, 2003.)