Claridge Icon [505 Preston St] | 143m | 45 fl | Completed

[m0nkyman]

Originally Posted by ThaLoveDocta

The city would have squat without the rezoning, so you can't really have your cake, eat it, and then complain you didn't get enough of the cake someone else made...

The city services the land, provides water, sewer, garbage pickup, police and fire protection. The developer has squat without the existence of the city around it. It is completely justified for the city to get section 37 benefits. And as much as I support good planning and correctly done densification, I also support bleeding developers as much as is economically viable for community benefits.

[S-Man]

Agreed.

[ThaLoveDocta]

Originally Posted by K-133

I'm all for rezoning but the city (i.e. you and I) should get a piece of the pie, otherwise what's the point other than to fill the pockets of the developer and to have something pretty to look at?

Its a mutually beneficial arrangement and the benefits should be appropriately shared.

I don't particularly like Dianne Holmes, and her numbers are probably bonkers but fundamentally she is right about this.

Don't get me wrong guys, I'm not questioning that the city shouldn't get something in return. What drives me bonkers is her BS numbers used to back up her argument. (have their cake, and eat it - fine, just not the extra bit)
The city is getting a hell of a lot more in return than the piddly numbers coming from the Holmes camp.

Originally Posted by m0nkyman

The city services the land, provides water, sewer, garbage pickup, police and fire protection. The developer has squat without the existence of the city around it. It is completely justified for the city to get section 37 benefits. And as much as I support good planning and correctly done densification, I also support bleeding developers as much as is economically viable for community benefits.

Also, lets not forget - a large tower with several hundred units provides a monstrous increase in tax revenue for the city over the previous occupant of the same land. Garbage, police and fire are paid by these taxes.
There are also development fees (albeit woefully insufficient ones) designed to cover water, sewer service expansions. (The actual water/sewer service is billed separately to residents, not part of your tax bill)

Originally Posted by rocketphish

She estimates the rezoning is worth $150 million to the company and the city is only getting about $1.1 million for transportation and park improvements.

If shes so concerned about how little they got to make a park - maybe they could find some in the new taxes they'll be collecting annually they weren't getting from the parking lot that was there before.

[waterloowarrior]

Urban development doesn't the same kind of share of funding as suburban development in terms of development charges due restrictions in the legislation... Section 37 agreements help even the playing field a bit.

[BMac01]

Does any one know how to inquire about buying one of these condos? Are they on the market yet - I know the city just gave approval for them to be built...

[Luker]

There sales center on-site has been under construction for over a month now is nearly complete (they are working on the interior fittings). As such, you should be able to visit or make a call to them via Claridge any day now.

[McC]

Originally Posted by BMac01

Does any one know how to inquire about buying one of these condos? Are they on the market yet - I know the city just gave approval for them to be built...

for the possible timing, see:

Originally Posted by waterloowarrior

Grand opening May 11th

[waterloowarrior]

register here http://claridgeicon.com/

[K-133]

Originally Posted by waterloowarrior

register here http://claridgeicon.com/

Don't register. Bring an agent if you intend on buying, split the commission. Though its not a lot of cash its more than you'll squeeze out of Claridge otherwise.

[BMac01]

thanks for the info everyone!

[JackBauer24]

Originally Posted by K-133

Don't register. Bring an agent if you intend on buying, split the commission. Though its not a lot of cash its more than you'll squeeze out of Claridge otherwise.

Ummm... If you plan on negotiating, don't bring an agent. The builder will have set aside a budget for roughly half the building being sold with an agent (roughly 2%). If the builder doesn't have to pay an agent on the deal, that's 2% of room to negotiate with (however it's unlikely the builder will discount his price - especially during opening week - but you can most definitely negotiate upgrades within the suite).

That all being said, builder will not have much of an appetite to negotiate at all on opening day or week, he doesn't need to when he'll have 500+ people waiting in line.

[DowntownDensity]

The Icon sales centre at the end of Preston now possesses a model of the Icon, which, although I only saw it from the bus, is quite impressive looking even at a distance. The bus drove past pretty quickly, but potentially the model lacked the wavy balconies we've seen in the most recent renderings...please feel free to confirm/correct my info if/when you visit the sales centre. Despite the potential lack of balcony, I have to say I was impressed by the height projected by the model! Definitely a first for Ottawa.

ALSO, the SOHO Italia site has a HUGE banner hanging from the 7-storey Co-Op housing marketing the Italia....all in all the end of Preston is quite active as of today!

[McC]

I think the wavygravy balconies are only on one side, so maybe the model is just pointing the other way?

in related news, how big is the model, or how good is your eyesight that you could see it that clearly from the bus?!?!?

[DowntownDensity]

The model is quite big, definitely taller than a metre, perhaps even going on two. They have it positioned so it commands a highly visible position in the sales centre, such that you can see it from most angles passing along Preston.

They oriented it to replicate the actual position of the Icon in relation to the street and Dow's Lake, so my intuition is that I probably just didn't make out the wavy balconies as the bus zoomed by.

[Harley613]

i've been google mapping trying to figure out where the hell the inevitable grocery store will go to service this area and came up with four options:
1. at the base of the twin 48 story towers on the Dow site a la Tribeca.
2. in the potential 'distillery district' where natural resources is vacating
3. at Bayview Yards. I like this idea, it would service the flats and isn't far from Dow's Lake
4. i think this is some government building, but it's ideally situated!

[waterloowarrior]

full site is up http://claridgeicon.com/

[McC]

I really hope they do buy out that church* and extend the podium to that lot to the north. Diane Holmes was right to complain that this isn't really a podium-point tower layout, but it would be if the podium extended up Preston, where the church is now, and would make it look a lot less awkward from ground level.


* Konrad von Finckenstein and Neil Maholtra hinted at the possibility when this went to committee http://www.ottawacitizen.com/business/Co...a+foot+Preston+Street/8218606/story.html

[McC]

Question: why are we still building condos where the fees include heat and A/C? It just incentivizes wasteful behaviour since no one is directly accountable for their usage.

[Luker]

Originally Posted by Harley613

i've been google mapping trying to figure out where the hell the inevitable grocery store will go to service this area and came up with four options:
1. at the base of the twin 48 story towers on the Dow site a la Tribeca.
2. in the potential 'distillery district' where natural resources is vacating
3. at Bayview Yards. I like this idea, it would service the flats and isn't far from Dow's Lake
4. i think this is some government building, but it's ideally situated!

While those are all possible and viable spots. JackBauer reported a few months back that a local developer either owned or was eyeing the empty block opposite of the Prescott and Heart and Crown on Preston and would be using the large podium area for a grocery store.

How I can't wait!

As well, #4 is the oak st complex and a large portion of it will be coming headed for private sale in the near future by the feds, assuming the other govts and quasi gov associations don't buy it.

Additionally, on the other side of the train tracks and only one block west of the Oak St Complex is the old B.A. Bank Note which occupies an entire block at the top of Gladstone between Breezehill and Champagne... This large building/area is also to be sold as reported to the Hintonburg CA last year by the owners.

Add in Bayview redevelopment, Landsdowne, Dows Lake Pavilion and Parking lot to be redeveloped, and as well all of Preston and to the west on other side of train tracks are all in the works and primed for development.. Exciting times indeed!

[McC]

@Harley613
Darwin has plenty of good background reading on the Oak Street complex; a couple of posts to get you started:
http://www.westsideaction.com/reinstatin...future-but-it-is-deja-vu-all-over-again/
http://www.westsideaction.com/more-embarrassment-for-the-bayview-carling-cdp-part-ii/