Claridge Moon/Skye [340 Queen St] | 84.4 m (x2) | 27 fl (x2) | U/C - Page 11

danishh · #**201** Posted **Jul 31, 2019, 6:32 PM**

Quote:

Originally Posted by Urbanarchit

What the honest frig!? Who can afford such ludicrous rents (especially for a Claridge building)? Those are San Francisco prices. Do they expect people are so rich that people can spend 36-60k of their annual income just on rent?

Ottawa has a problem with the cost of rents being far too high, and something needs to be done about it.

guys, this is the condo's Matt's talking about. Sale prices increased by 3k/4-5k. Those arnt monthly rental prices.

The prices are still ambitious for the market imo, but clearly they're selling.

AR-OTT · #**202** Posted **Jul 31, 2019, 6:36 PM**

Quote:

Originally Posted by Urbanarchit

What the honest frig!? Who can afford such ludicrous rents (especially for a Claridge building)? Those are San Francisco prices. Do they expect people are so rich that people can spend 36-60k of their annual income just on rent?

Ottawa has a problem with the cost of rents being far too high, and something needs to be done about it.

I interpreted this as the condo presale prices being bumped up slightly by these margins. If this is what they are listing the rentals as then I agree that that's absolutely insane.

MattRichling · #**203** Posted **Jul 31, 2019, 7:03 PM**

Quote:

Originally Posted by AR-OTT

I interpreted this as the condo presale prices being bumped up slightly by these margins. If this is what they are listing the rentals as then I agree that that's absolutely insane.

Ooops yes, I was speaking about the condo prices. I went back and tweaked it to hopefully help.

In terms of prices, I think there is going to be a shock for pricing as new projects come out and we realize that $450sqft or even $550sqft isn't going to be in the picture. Construction costs have gone up by quite a bit and they are not going to go down. Unless you're looking at a low rise or wood frame, I think this is where you will see your rough average for a medium level quality building. Especially located downtown, attached/on/whatever to the LRT, with the amenities (pool, concierge etc.)...

Urbanarchit · #**204** Posted **Jul 31, 2019, 8:48 PM**

Quote:

Originally Posted by MattRichling

Ooops yes, I was speaking about the condo prices. I went back and tweaked it to hopefully help.

In terms of prices, I think there is going to be a shock for pricing as new projects come out and we realize that $450sqft or even $550sqft isn't going to be in the picture. Construction costs have gone up by quite a bit and they are not going to go down. Unless you're looking at a low rise or wood frame, I think this is where you will see your rough average for a medium level quality building. Especially located downtown, attached/on/whatever to the LRT, with the amenities (pool, concierge etc.)...

Okay, phewf! I was about to have a panic attack for a second if those were rental prices. I heard that the 2-bedroom apartments in Nuovo were going for $2700, so when I heard this I worried.

The thing is, I can understand the increased cost as a result of the property's being expensive to purchase, but the cost of the units is far more than the cost to building the buildings. Developers recognize that Ottawa has limited supply for high demand so they think they can charge more. As long as housing is used as an investment we're going to be stuck with these high prices.

J.OT13 · #**205** Posted **Aug 3, 2019, 2:54 PM**

It took Claridge nearly a year to build the presentation centre, they used 2 months and not it's closed for construction (sales moved to Nepean Street). What a waste.

I assume they didn't want to use the Glue Pot building because of the strip club? Didn't want to open next to or in a former such establishment?

waterloowarrior · #**206** Posted **Aug 10, 2019, 11:56 AM**

Permit issued was for excavation only...they were already zoned for three towers but the latest amendment was to redistribute the towers and change some of the permitted uses.

MattRichling · #**207** Posted **Sep 4, 2019, 1:56 PM**

Pricing went up again, one-bedrooms increased in price by $5,000 and two bedrooms increased by $10,000. The average price per square foot for the entire building (remaining units) is now $657sqft, with the average unit size 692sqft. There are now 59 units sold, which equals 22.2% of the building sold.

*units for sale - not speaking about rentals

YOWhopeful · #**208** Posted **Dec 12, 2019, 2:05 AM**

Does anyone know what grocery store will open at Claridge Moon?

J.OT13 · #**209** Posted **Dec 12, 2019, 1:20 PM**

Quote:

Originally Posted by YOWhopeful

Does anyone know what grocery store will open at Claridge Moon?

I would expect something under the Metro or Sobey's umbrella.

waterloowarrior · #**210** Posted **Dec 18, 2019, 2:02 AM**

the LPAT case is closed!
https://www.omb.gov.on.ca/ecs/CaseDetail.aspx?n=PL190316

J.OT13 · #**211** Posted **Jan 1, 2020, 6:32 AM**

A little history of Coca-Cola's facilities through time here in Ottawa, including that of the now demolished former plant on Queen.

http://urbsite.blogspot.com/2019/11/coca-cola-bottles-and-public-health.html

FutureWickedCity · #**212** Posted **Jan 2, 2020, 2:28 PM**

Love this little gem from the blog post: "A vocal raw water movement advocating the health-giving benefits of untreated Ottawa River water,"

Skynet · #**213** Posted **Jan 23, 2020, 5:54 PM**

Quote:

Originally Posted by YOWhopeful

Does anyone know what grocery store will open at Claridge Moon?

I'd be interested to know as well!

Admiral Nelson · #**214** Posted **Jan 24, 2020, 4:53 PM**

From reddit:

Quote:

It will eventually come back. When they reported the closure, a representative from Metro said it will be returning as the ground floor store in the condo building they are replacing it with. Mind you, that's at least 3 years away.

AR-OTT · #**215** Posted **Jan 24, 2020, 4:57 PM**

Quote:

Originally Posted by Admiral Nelson

From reddit:

I think you might be confusing this with the Claridge Royal.

Skynet · #**216** Posted **Jan 24, 2020, 5:17 PM**

Quote:

Originally Posted by AR-OTT

I think you might be confusing this with the Claridge Royal.

I must say I myself get confused with all the different names.

Claridge Royale = Metro grocery store area on Rideau Street

Claridge Moon = Above Lyon LRT station

I guess both Royale and Moon will be getting a grocery store!

J.OT13 · #**217** Posted **Feb 20, 2020, 6:05 PM**

Saw this out on Le Téléjournal Ottawa-Gatineau last night. Couldn't find an online link to the story on Radio-Canada, but found this one on CMHC via Catherine McKenna's Twitter.

This is great and all, but the cost seems excessive: $115 million for 65 units amounts to $1,769,230.77 per unit. Will the Feds own these units? Or does Claridge retain ownership? If so, will these permanently be "affordable" rental units? What's affordable? They're saying middle class, so what $1,500 a month as opposed to $2,500?

The Feds and Claridge came to a similar agreement with Onyx (?), but were never communicated those details.

Quote:

Making Housing More Affordable for Middle-income Families in Ottawa

Ottawa, Ontario, February 19, 2020

Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Ottawa will soon have access to more stable rental housing options that are affordable to the middle-class, and those working hard to join it.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Catherine McKenna, Minister of Infrastructure and Communities, and Member of Parliament for Ottawa Centre, announced that the federal government is investing $115 million to help construct a 27-storey, mixed-use residential building, comprising of 321 units located at 383 Albert Street in Ottawa.

Of these new units, 65 of them will have rents that will fall at or below 21% of the median household income in the Ottawa area and those units will remain at affordability levels for 21 years past first occupancy, which will provide affordable housing options close to public transit and services for modest and middle-income individuals and families.

This project, developed by Claridge Homes, is receiving funding through CMHC’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by Canada Mortgage and Housing Corporation (CMHC) that supports rental housing construction projects to encourage a stable supply of rental housing for middle-class families struggling in expensive housing markets across the country.

Quick facts:

Of the total units, 10% will meet or exceed local accessibility standards; two (2) units will be universal design, and two (2) units will be adaptable
This project is designed to achieve energy efficiency savings of 22.3% and reduced greenhouse gas emissions of 28.8% relative to the 2015 NECB.
The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets.
Launched in April 2017, the RCFi has generated a lot of interest and a high number of quality applications. This is why, through Budget 2018, the Government increased the amount of low-cost loans provided by this initiative from $2.5 billion to $3.75 billion and further increased to $13.75 billion with budget 2019. In total, the RCFi will encourage the construction of 42,500 new rental housing units across Canada.
The rental market is an important housing option for approximately 30% of Canadians.
This project represents a major new supply of purpose built rental housing in Ottawa where vacancy rates in 2019 were 1.8%.
Low-cost loans are available to borrowers who want to build purpose built rental housing in Canada in response to demonstrated community need.
Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.

Associated links:

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.

To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

Information on this release:

Maya Dura
Senior Special Assistant, Communications
Office of the Minister of Families, Children and Social Development
873-354-8265
[email protected]

Audrey-Anne Coulombe
Canada Mortgage and Housing Corporation, Media Relations
613-748-2573
[email protected]

https://www.cmhc-schl.gc.ca/en/media-new...affordable-middle-income-families-ottawa

Multi-modal · #**218** Posted **Feb 20, 2020, 6:38 PM**

Quote:

Originally Posted by J.OT13

Saw this out on Le Téléjournal Ottawa-Gatineau last night. Couldn't find an online link to the story on Radio-Canada, but found this one on CMHC via Catherine McKenna's Twitter.

This is great and all, but the cost seems excessive: $115 million for 65 units amounts to $1,769,230.77 per unit. Will the Feds own these units? Or does Claridge retain ownership? If so, will these permanently be "affordable" rental units? What's affordable? They're saying middle class, so what $1,500 a month as opposed to $2,500?

The Feds and Claridge came to a similar agreement with Onyx (?), but were never communicated those details.

https://www.cmhc-schl.gc.ca/en/media-new...affordable-middle-income-families-ottawa

Based on the article, the funding is for 21 years of affordability: "those units will remain at affordability levels for 21 years past first occupancy"

kwoldtimer · #**219** Posted **Feb 20, 2020, 6:40 PM**

The article says it’s 321 units. The 65 is just the “affordable component.

J.OT13 · #**220** Posted **Feb 20, 2020, 6:53 PM**

Quote:

Originally Posted by Multi-modal

Based on the article, the funding is for 21 years of affordability: "those units will remain at affordability levels for 21 years past first occupancy"

I somehow missed that. Thanks.

So the Feds are basically paying part of the rent, at a rate of $1.7 million per unit over 21 years. That's $80,952 per year, per unit.

Quote:

Originally Posted by kwoldtimer

The article says it’s 321 units. The 65 is just the “affordable component.

The entire building is 321 units, but the Fed's $115 million contribution is for the 65 "affordable" units only.

These "deals" are puzzling to me. The Feds are just about funding the entire project so that a fraction of the units can be "affordable". It's basically corporate well-fare. Why not invest these amounts in Ottawa Community Housing to actually build 321 (or whatever $115 million can buy) affordable units?