Got an email from the Bennett Property Pros advertising sale on the last remaining units for this project, starting at $215K.
I checked MLS and there are still 34 listings for this one. Surprised it has not sold out by now. Goes to show the market has softened as I have no doubt this one would be sold out if it were 2008.
The project is over 75% sold out with 1.5 years until occupancy - I'd say that's pretty dang good. Sure it's not at 2008 levels, but that was a record breaking year - all things considered, it's a fast selling project.
Quote:
Originally Posted by canabiz
Got an email from the Bennett Property Pros advertising sale on the last remaining units for this project, starting at $215K.
I checked MLS and there are still 34 listings for this one. Surprised it has not sold out by now. Goes to show the market has softened as I have no doubt this one would be sold out if it were 2008.
The project is over 75% sold out with 1.5 years until occupancy - I'd say that's pretty dang good. Sure it's not at 2008 levels, but that was a record breaking year - all things considered, it's a fast selling project.
Agree and even in 2008 buildings preparing for occupancy generally had at least a few units still for sale from the builders.
The project is over 75% sold out with 1.5 years until occupancy - I'd say that's pretty dang good. Sure it's not at 2008 levels, but that was a record breaking year - all things considered, it's a fast selling project.
Given the market in Ottawa over the last year, these numbers are spectacular! Most central location for any project in Ottawa...probably ever and it shows. Nice little filler for a really awkward site.
The site is related to Open Street Map, so when one updates the buildings on OSM this site is updated, though it takes a day for it to appear. I did many of those buildings using OSM to make this more accurate for Ottawa.
I agree that The Slater looks cool, and great marketing strategy, but i am apprehensive about the half hotel/ half residence aspects of it, and where the heck are people going to park? The building is the size of a postage stamp!
The hotel and condo aspects at the Slater are completely separate (unlike Soho) - the hotel has a separate entrance, amenity area, hallways, and parking than the condo. They share nothing but the actual exterior structure.
As for parking, like all new condos downtown there isn't 1-for-1 parking - the bachelor/studio condos don't get parking (that's fairly common practice nowadays). But part of the appeal to living downtown is being within walking distance to work, shopping, restaurants, etc... So not having a car/parking in a downtown location isn't the worst thing in the world.
The hotel and condo aspects at the Slater are completely separate (unlike Soho) - the hotel has a separate entrance, amenity area, hallways, and parking than the condo. They share nothing but the actual exterior structure.
As for parking, like all new condos downtown there isn't 1-for-1 parking - the bachelor/studio condos don't get parking (that's fairly common practice nowadays). But part of the appeal to living downtown is being within walking distance to work, shopping, restaurants, etc... So not having a car/parking in a downtown location isn't the worst thing in the world.
i think JackBauer24 is referring to the fact that it's essentially a completely separate and distinct hotel property adjacent to a residential condo building - not a condo with "hotel" amenities like (all?) the SOHO properties.
Wait, does this mean people actually want to live in downtown Ottawa?
What's wrong with that? I've lived in various neighborhoods in and around downtown and loved it. And judging from all the completed projects as well as the ones under construction or planned, it's something which is growing in popularity.
Its dead at night and during the weekends and too busy during work days.
Quote:
Originally Posted by bikegypsy
What's wrong with that? I've lived in various neighborhoods in and around downtown and loved it. And judging from all the completed projects as well as the ones under construction or planned, it's something which is growing in popularity.
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