SOHO Italia [500 Preston St] | 96m | 30 fl | Completed

[YOWetal]

Originally Posted by alamgirkhan

Wow that’s really deep!

So crazy that house next door is staying and it looks like the hole is right to the property line.

[On Edge]

With all this development right at the lake, it is time to greatly expand Dows Lake Pavilion. There is lots of opportunity to have more food and drink and so on right there. kind of like Darling Harbour food pavilion in Sydney.

[ServiceGuy]

Originally Posted by Flemay

Double WOW , that is one big hole.
Probably as deep as Icon across the street.

If I remember correctly this one is going down to P6 or so while icon is at P9 or P9.5.

[Harley613]

Originally Posted by On Edge

With all this development right at the lake, it is time to greatly expand Dows Lake Pavilion. There is lots of opportunity to have more food and drink and so on right there. kind of like Darling Harbour food pavilion in Sydney.

I'm not sure about that. The upper floor restaurants have always struggled and Lago survives almost entirely on Weddings. I can see the pavilion getting a little more local business but not much considering all of the superior food and drink options on Preston. It's really a tourist spot not frequented by locals, I don't see that changing.

[J.OT13]

Originally Posted by Harley613

I'm not sure about that. The upper floor restaurants have always struggled and Lago survives almost entirely on Weddings. I can see the pavilion getting a little more local business but not much considering all of the superior food and drink options on Preston. It's really a tourist spot not frequented by locals, I don't see that changing.

Restaurant options are limited. Mexi's is a mediocre chain that can be found in other parts of the city. Lago's and Umbrella seem to be more like Wedding venues, so they are not places where you can just drop in.

In addition, the City and NCC do a poor job promoting Dow's Lake as an all year point of interest. Most probably only know it as Tulip Festival and Winterlude destination. Name Carling station "Dow's Lake" and we might see more people go there for leisure.

[kevinbottawa]

Originally Posted by On Edge

With all this development right at the lake, it is time to greatly expand Dows Lake Pavilion. There is lots of opportunity to have more food and drink and so on right there. kind of like Darling Harbour food pavilion in Sydney.

I'd love too see them demolish the pavillion and build something like the Harbourfront Centre in Toronto. Indoor and outdoor arts space. Perhaps with a few restaurants. Or just build the concert hall. A live performance venue with iconic architecture, next to the water with tall buildings in the background would be a great picture.

[Brannwagon]

Originally Posted by J.OT13

Restaurant options are limited. Mexi's is a mediocre chain that can be found in other parts of the city. Lago's and Umbrella seem to be more like Wedding venues, so they are not places where you can just drop in.

In addition, the City and NCC do a poor job promoting Dow's Lake as an all year point of interest. Most probably only know it as Tulip Festival and Winterlude destination. Name Carling station "Dow's Lake" and we might see more people go there for leisure.

I've always thought that Dow's Lake would be a much better name for Carling Station.

Off-topic, but if you haven't tried the fried chicken sandwich from Umbrella Bar, you're missing out - they're on UberEats too

[On Edge]

Originally Posted by Harley613

I'm not sure about that. The upper floor restaurants have always struggled and Lago survives almost entirely on Weddings. I can see the pavilion getting a little more local business but not much considering all of the superior food and drink options on Preston. It's really a tourist spot not frequented by locals, I don't see that changing.

Mostly because the restaurants are crappy. Add performance space and maybe a gallery or something and it would draw people. Parking has been a bit of an issue but with so much buildup nearby and the rail line it would definitely thrive. It needs to be a destination not an afterthought.

[Glenlivet Ave]

The new civic hospital campus will also bring more traffic to the area.

I would like see something like Queen Street Fare here with local restaurants from the neighbourhood setting up shop with common seating, maybe some indoor/outdoor dining.

[waterloowarrior]

https://ottawacitizen.com/news/local-new...al-on-preston-gets-86-4m-boost-from-feds

New 30-storey rental on Preston gets $86.4M boost from feds
Author of the article:Kelly Egan
Publishing date:Aug 17, 2020

The federal government is lending a developer $86.4 million to help finance a 30-storey rental apartment building on Preston Street.

SoHo Italia, a project by Mastercraft Starwood at 500 Preston, consists of 250 units near the corner of Carling Avenue, right by Claridge’s towering Icon building.

A condition of the low-cost loan is that the units be affordable, or below typical market rent, and energy efficient. The building — at the corner of Sidney Street — is to contain 50 one-bedrooom units, 100 one-bedroom units with a den and 100 two-bedroom apartments.

The financing was unveiled at a press conference at the site — now a 4.5-storey hole — attended by Ahmed Hussen, the minister responsible for Canada Mortage and Housing, which is making the funds available from its Rental Construction Financing Initiative.

Mastercraft president Bruce Greenberg said the “state-of-the-art” building will have modern features like electric vehicle charging stations, car sharing and electronic locks. He pointed out that the CMHC program is helping replace aging rental stock, about 62 per cent of which was built before 1979 in Ottawa.

He also said the timing of construction is important in that Canada is in economic crisis, with high unemployment, a recession and a closed border with the U.S.

“It is difficult to get financing for multi-unit rental properties but these CMHC loans are repayable and give builders the confidence and means to move ahead with rental housing that will fuel our economy when it is needed most and give more Canadians a place to call home.”

The building is part of a rapid transformation of Ottawa’s Little Italy. Greenberg pointed out its proximity to LRT (only 180 metres to the Trillium Line’s Carling Station), Dow’s Lake and the future site of the Civic campus of the Ottawa Hospital.

He credited Hussen and his government for pouring almost $14 billion into the rental incentive program, one expected to contribute to the construction of 42,500 units across Canada.

“These are unprecedented times and it is precisely at times like this that we realize and appreciate the privilege and how fortunate we are to live in a great country like Canada,” said Greenberg, son of the company founder.

Hussen said the government has unveiled a number of programs — mortgage relief, wage subsidies — to ensure Canadians did not have to choose between paying for housing or buying groceries.

“We’re also stimulating the economy creating jobs,” said Hussen, the Minister of Families, Children and Social Development. “Just imagine the number of people who will be put to work to complete this project. It is a win for renters, but it is also a win for our economy and our larger community.”

The building is expected to be completed near the end of 2022.

[Harley613]

This sounds like a great program, but Ottawa has a rental shortage as it is. If we are putting up new buildings to literally 'replace aging rental stock' then we have to put up a LOT of new buildings, and the new ones would have to contain a significant amount of affordable housing. The article makes it sound like Soho Italia will be ALL 'affordable, or below typical market rent' but I really doubt there will be an exodus of families moving from pre 1979 buildings into this building. I'm curious what their idea of 'Affordable' is.

[J.OT13]

Originally Posted by Harley613

This sounds like a great program, but Ottawa has a rental shortage as it is. If we are putting up new buildings to literally 'replace aging rental stock' then we have to put up a LOT of new buildings, and the new ones would have to contain a significant amount of affordable housing. The article makes it sound like Soho Italia will be ALL 'affordable, or below typical market rent' but I really doubt there will be an exodus of families moving from pre 1979 buildings into this building. I'm curious what their idea of 'Affordable' is.

You're right, that is what it sounds like. I feel like with the two Claridge projects (Moon and Onyx), they had specified how many units would be "affordable".

I don't see any of these projects as "replacing old stock". The old stock (with the exception of old houses that had been converted and a few smaller apartment buildings) aren't being replaced.

I think this is a good government initiative; it provides some "more" affordable housing stock without the government going into massive debt (beyond the current massive debt).

[OTownandDown]

Originally Posted by J.OT13

You're right, that is what it sounds like. I feel like with the two Claridge projects (Moon and Onyx), they had specified how many units would be "affordable".

I don't see any of these projects as "replacing old stock". The old stock (with the exception of old houses that had been converted and a few smaller apartment buildings) aren't being replaced.

I think this is a good government initiative; it provides some "more" affordable housing stock without the government going into massive debt (beyond the current massive debt).

My logic argument is that these 'new stock' buildings add high-rent and luxury options that don't necessarily exist (or that demand isn't meeting). We don't talk about the people who want these options. This somehow acts to reduce the strain and demand on the 'old stock' thus reducing the cost of renting in the 'old stock'.

At this point, it doesn't really matter who the building is intended for, as long as additional rental units are being constructed.

[phil235]

Originally Posted by J.OT13

You're right, that is what it sounds like. I feel like with the two Claridge projects (Moon and Onyx), they had specified how many units would be "affordable".

The program has two requirements. Either the project has to be part of another affordable housing program, or "at least 20% of units must have rents below 30% of the median total income of all families for the area, and the total residential rental income must be at least 10% below its gross achievable residential income."

So it's likely 20% affordable units, though this threshold for affordability is tighter than most others I've seen. With that criteria, the units should be truly affordable for lower income people.

[kwoldtimer]

Originally Posted by Harley613

This sounds like a great program, but Ottawa has a rental shortage as it is. If we are putting up new buildings to literally 'replace aging rental stock' then we have to put up a LOT of new buildings, and the new ones would have to contain a significant amount of affordable housing. The article makes it sound like Soho Italia will be ALL 'affordable, or below typical market rent' but I really doubt there will be an exodus of families moving from pre 1979 buildings into this building. I'm curious what their idea of 'Affordable' is.

Based on the article, I think he would have been more accurate had he said “increase” rather than “replace” existing stock. Although when I think of the Herongate towns, maybe he’s correct.

[J.OT13]

Can't wait to see this one complete. It will really help balance out Claridge Icon (driving down there a few times recently, looks very cheap from the Preston front).

[AuxTown]

Super pumped for Icon to have a friend on Preston. Looks like a high quality project and the height is pretty good. But can someone please tell me why we have to keep that entrance to Little Italy?!?!? It is so front and centre and probably the ugliest structure in the city



Reminds me of that classic SNL skit

[Harley613]

Hmm I actually find the gateway charming. It's typical tacky Italian-American faux-Rococo style and I think it looks neat.

[kevinbottawa]

Originally Posted by Harley613

Hmm I actually find the gateway charming. It's typical tacky Italian-American faux-Rococo style and I think it looks neat.

I like it as well, but the "soccer spoons" public art piece at Gladstone can go.

[Harley613]

Originally Posted by kevinbottawa

i like it as well, but the "soccer spoons" public art piece at gladstone can go.

100%!!!!