Quote:
Originally Posted by entheosfog
I hope there isn't a mass demolition of these units as it's getting harder and harder to find a decent 1 bedroom for under $1000/month in the west end. You can bet new rental towers will not be as cheap as the aging 'boxes'. There's been a number of them that I've seen get fixed up lately so I don't think every one of them needs to be torn down.
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I know what you mean, but $1,000 is not very cheap for a 1960's walk-up with no views, parking, dishwasher or in-suite laundry. And when these folks move, the landlord is not restricted anymore and can max out the rent to whatever the market will bear.
Where there are 20 rental units in a 3 or a 4 story building, a medium high-rise can get 150 rental units.
Now if there is a glut of these "new" units on the market, it's quit foreseeable that a brand new unit with views, in-suite laundry, parking, all appliance etc, can be had for about $1,100 per month.
Currently, you can get a 1 bedroom with parking, in-suite laundry, gym etc in the downtown core for anywhere between $1,100-1,300