Tamarack Flora [488-500 Bank St] | 31m | 9fl | Completed

[Boxster]

Originally Posted by MattRichling

I now have the floor plans, brochures, and pricing for the VIP launch. If you are looking for any of this information, visit my website and fill out the form (make sure to request the smart house info) and I will send it over.

In terms of pricing, note that they are making it sound like all prices will jump by $10,000 after immediate launch.

Notes:
-151 units from 315sqft (studio) - 586sqft (two bed)
- Prices range from $544sqft to $606sqft (for starting prices), based on the info I was given
- Parking is $50,000 - VERY limited **Only 12 spots - for units above 500sqft first.
- Bicycle Storage $500, available for all suites. **There are normal spots included for free, then these "extra secure" spots for a premium
- Maintenance fees of $0.53sqft (does not include unit utilities)
- Occupancy of March 2017
- Deposit Structure - $2,500 with agreement, balance to 5% in 30days, 5% in 120 days, 5% in 240 days, 5% due september 2016

I will keep posting more info on my blog, as it becomes available. Click here for the Smart House Ottawa area on my website.

$544sqft at a minimum seems way to high...

[rocketphish]

Urban Capital brings its Smart House micro-condo concept to Ottawa
Patrick Langston, Ottawa Citizen
Published on: October 16, 2014, Last Updated: October 16, 2014 2:59 PM EDT


The nine-storey, Rod Lahey-designed building in Centretown will have units between 315 and 596 square feet.

Smart House Ottawa, Urban Capital’s latest condo project in the capital, combines some very small spaces with some very big ideas.

Slated for the corner of Bank and Flora streets, the micro-condo project features 151 units starting at 315 square feet and topping out at a cosy 596 square feet. Prices begin at $179,900.

What makes Smart House especially notable are the clever design ideas that promise relatively spacious living on minimal floor plans.

Units — you can see vignettes at the presentation centre, which opens to the public Saturday — brim with space-saving features, many of them with a hip, Euro feel. The kitchen, for example, boasts a combination washer/dryer and a pull-out cutting board to supplement the counter space. When not in use, appliances, including the compact dishwasher drawer, are concealed behind dark-grained cabinetry, creating a sleek, coherent vibe that should blend nicely with buyers’ own furnishings.


The well-organized kitchen boasts a combination washer/dryer and a pull-out cutting board to supplement the counter space.


When not in use, appliances, including the compact dishwasher drawer, are concealed behind dark-grained cabinetry, creating a sleek, coherent vibe.

And where do you sleep? Tug the panel behind the built-in sofa and a wall bed, available to buyers as part of an optional furniture package, pulls down. You don’t even have to move the odds and ends you put on the shelf above the bed: the shelf stays level as you pull down the bed to become part of the legs. Smart indeed.

There are also closets with full-height shelving and built-in drawers. Elsewhere, space reclaimed from mechanical systems is used for niche shelving.


Clever space-saving ideas include a wall bed behind the built-in sofa where even items on the shelf don’t need to be moved. The shelf stays horizontal as the bed is dropped down, becoming part of the legs.

“We’re trying to press the reset button on condo prices,” says David Wex, founding partner of Toronto-based Urban Capital. “There are lots of condos at $250,000 to $350,000, but to get our new, exciting prices we had to make them smaller. We found as other condos got smaller, the elements didn’t necessarily get smaller, and kitchens and bathrooms ate up the whole unit. So we redesigned everything to fit.”

To do that, Urban Capital hired Ottawa architect Rod Lahey to create the interior and exterior of the nine-storey building, which will be constructed a block north of Urban Capital’s three-phase Central condo development. Mississauga-based AyA Kitchens & Baths designed the kitchen. Smart House Ottawa’s amenities include a gym, lounge and a business centre with computer facilities and a small meeting room. There’s also a “lending library” where you can borrow a ladder, power drill or other items for small household projects.


Amenities include a gym, lounge and a business centre with computer facilities and a small meeting room.

Nick Bachusky thinks it’s all pretty slick. The Ottawa-area mortgage agent was on hand at the VIP launch in September. “A lot of architectural magazines are celebrating smallness,” he said, glancing around at the intent, buzzing crowd. Projects like Smart House, he continued, target “people who like to appreciate going out, who instead of spending money on a house use it to have fun.”

That description accords with Wex’s profiling of likely buyers: “Totally urban, minimalist, loves to live in the city.”

He adds that the Toronto version of the project, where suites start at just 288 square feet, has been selling like hotcakes. It also won two awards, including best design under 750 square feet, at the 2014 BILD Awards for the real estate industry. One of the things pulling folks into the Toronto site is no doubt the technology upgrade package, also available in Ottawa. It’s an app that allows condo owners to remotely control lighting, temperature, even blinds.

Dan Paquette bought one of the Ottawa units in September, although as an investor he plans to rent out the 315-square-foot unit he purchased.

Paquette bought at Smart House because of its proximity to downtown and its price. “You’re pretty much within walking distance to anything, and there’s easy access to public transit,” he says. “Mortgage costs will be lower so I can charge less rent.”

He foresees leasing to a student or maybe to someone who comes to Ottawa regularly on business and prefers permanent digs to a hotel room. It’s expected to be ready for summer 2017.

Wex is confident that there’s a market for micro-condos in Ottawa.

“Ottawa’s not Tokyo, but when we built East Market (in the ByWard Market in 2001), we had 500- and 600-square-foot condos. Everybody said they’d never sell, but they did.” In fact, a small teaser ad in the Citizen at the time, meant to gauge public interest, generated more than 1,600 calls.


The smallest unit at Urban Capital’s Smart House Ottawa is the 315-square-foot A1 unit.


The largest unit at Urban Capital’s Smart House Ottawa is the 596-square-foot B5 unit.

Even more urban-minded than they were a decade ago, Ottawans could well flock to the company’s latest project. To help those who do snap up a unit, the website buzzbuzzhome.com has linked to Urban Capital and provided useful tips for small-scale living.

They include opting for digital versions of space-hogging books and magazines and un-cramming your closet — permanently — by trading in trunk loads of fashionable, inexpensive duds for a “capsule wardrobe,” which relies on a smaller number of high-quality, long-lasting items that can be easily mixed and matched for varied outfits.

Another tip: Ditch bulky cereal and other boxes in favour of air-tight, stackable jars and other containers. Square ones apparently consume less space than do round containers.

Small, clearly, is the new smart.

Smart House

What: 151 condo units starting at 315 square feet

Builder: Urban Capital with Tamarack Homes

Prices: Starting at $179,900; condo fees are 50 cents a square foot; parking (limited) is $50,000

Sales centre: 455 Bank St. (opens Saturday)

Hours: Thursday, 3 p.m. to 7 p.m.; Saturday to Monday, noon to 6 p.m.; other times by appointment (hours may change; check website)

Information: 613-789-5475, smarthouseottawa.com


http://ottawacitizen.com/life/homes/cond...mart-house-micro-condo-concept-to-ottawa

[rocketphish]

Micro-condos make big splash

David Sali, Published on October 16, 2014

The arrival of Ottawa’s first “micro-condo” development is another sign housing has become out of reach for many local buyers, a leading industry advocate says.

Toronto developer Urban Capital and local builder Tamarack Homes are teaming up to launch Smart House Ottawa, a nine-storey project at the corner of Bank and Flora streets featuring 151 condo units ranging from 315 to 586 square feet.

Prices start at $179,900, with the most expensive, two-bedroom corner units topping out at $354,900. Urban Capital recently opened Smart House’s downtown sales office with a special event for owners of the developer’s other properties in Ottawa, and it ended up selling all six of the smallest, 315-square-foot units in just a couple of hours.

The “micro-condo” craze has already caught on in many major metropolitan areas around the world where space is at a premium, including New York, Tokyo and Toronto, but this is the first time the concept has been tried in the nation’s capital.

John Herbert, the executive director of the Greater Ottawa Home Builders’ Association, says the fact that the cheapest units were snapped up that quickly proves the city’s housing market is in deeper trouble than many people think. “It’s interesting to hear how well they’re doing,” he says. “It’s all price-driven, I think. I think the fact that these units are selling as well as they are indicates just how serious the affordability situation is.”

Urban Capital partner David Wex says the building, which is slated to be ready for occupancy in the summer of 2017, is designed to appeal to people who want the benefits of downtown living at a reasonable price.

“The only way to press the reset button and get affordability back is to make units small,” he says. “If you’re going to make units small, you have to make them smart.”

The builders of micro-condos are doing that, he says, by using space as efficiently as possible. For example, the kitchen countertops are retractable, the dishwasher pulls out of a drawer, stoves have only two burners instead of the traditional four and the washer and dryer are combined in one unit.

“Every element is very, very efficient,” he says.

High ceilings and large windows also help make the space “feel bigger than it is,” he adds.

The building’s central “productivity area” will feature amenities such as a large-scale printer where residents can share desks and use a boardroom for meetings if they wish to work from home, he says. A large kitchen and dining room will be available for tenants who wish to entertain guests, and a central office will house bulky equipment such as ladders and steam cleaners for residents to use when needed.

Mr. Wex says Urban Capital is targeting a range of customers, including first-time buyers, investors and people who prefer a “pared-down lifestyle.” He says he knows the project won’t appeal to everybody, but he believes there is enough of a market in Ottawa to make it viable.

“This is narrow-casting,” he says. “The majority of people are not going to want this. But we’re not talking to the majority. We’re talking to that minority that loves this.”

He uses a car analogy to illustrate his point.

“Some people buy a Mini. You could say, ‘You could have a bigger car for the same price.’ (They say) ‘I don’t want a Malibu. A Mini and a Malibu might be the same price, but I don’t care if I get more space in a Malibu, I just don’t want it.’”

David Sugarman, a real estate broker with Coldwell Banker Rhodes and Company, says he doubts micro-condos will ever become a major part of the city’s housing scene. Downtown living doesn’t have quite the same broad appeal in Ottawa as it does in larger cities such as New York and Toronto, he says, and he’s not sure the rental market for such small units will be robust enough to make a lot of investors dive in.

“I think it would be hard to sustain a lot of this very micro-living sort of stuff (in Ottawa),” he says.

Still, he adds, “You have to be innovative and sometimes test the market. If nobody liked it, there’d be no sales.”

http://www.obj.ca/Real-Estate/Residentia...862/Micro-condos-make-big-splash%0D%0A/1

[1overcosc]

If I knew I was remaining in Ottawa permanently, and this building was closer to a rapid transit station, I'd actually seriously consider buying here. I moved into a (rental) studio not too long ago and I actually really like it.

[Urbanarchit]

About a month ago my interview was published in the Centretown News. My name was misspelled, but I fixed it here. And my unit was 10x25 square feet.

Affordable micro-condos coming to town

Friday, 10 October 2014
By Melissa Bouchard

The SmartHouse Ottawa project was launched by Urban Capital following the success of its Toronto counterpart, launched last September. Construction is set to begin on the corner of Bank Street and Flora Street next summer, with occupancy expected in March 2017, despite some opposition from members of the community.

The Centretown Citizens Community Association proposed several changes to the project over the lack of green space and the exterior of the building in a planning committee zoning report from January 2013.

The site plan for the building is currently being reviewed by the city’s planning and department, and a decision is expected in coming weeks, says Don Herweyer, the city’s development review program manager.

The original glass and steel exterior design of the building received complaints from the public about not being “suitable building materials in a Heritage Conservation District,” according to the planning committee report. As a result, the building plans will now include brick and steel on the first two floors to commemorate Centretown’s industrial heritage, according to the report.

François Bélanger, co-chair of the CCCA’s planning committee, says the changes are a step in the right direction, but he is disappointed with the site’s lack of trees.

Bélanger says the CCCA is divided on the idea of micro-condos in Centretown.

“The small units bring about some concern, but then there’s the idea that it’s been seen in other cities as well and is new to Ottawa, so we’re curious to see how it works out,” says Bélanger.

SmartHouse Ottawa will be the first of its kind in Ottawa, according to Max Damour, the project’s sales lead.

“The condo market is definitely worse than two years ago and now (Urban Capital is) just trying to create some buzz, some excitement in the condo market,” Damour says.

If the site plan is approved by the planning and growth management department it could be a good fit for the city core, “where land values are high and housing can be more costly,” says Herweyer.

An increase in diverse housing, such as micro-condos, could also help reach the Centretown Design Plan’s goal of increasing the population by a minimum of 10,000 residents in the next 20 years, Herweyer adds. At a cost of $179,900 each, these small condos also meet the affordable housing requirements set out in the Centretown Design Plan.

Smaller spaces such as the ones offered by SmartHouse Ottawa can also be a good match for students and older residents, says Herweyer.

The units range in size, from a 29-square-metre studio apartment for example, to a 54-square metre two-bedroom apartment. Prices range from approximately $179,000 to $350,000.

Although it’s smaller than the average-sized condo, what SmartHouse Ottawa lacks in size, it makes up in space. More specifically, the lack of dead space in average-sized condos, says Damour.

These units are streamlined for efficiency, he says. The kitchens are more compact, with a two-burner stovetop instead of four, a dishwasher in a drawer and an all-in-one washer and dryer hidden in a kitchen cabinet.

In the studio units, the main area serves as a living room by day, with a Murphy bed disguised as a couch and shelf that folds down at night.

“Living well in small units depends on how the unit is laid out,” says Sheldon DeFilippi. “If it’s got an awkward design you can feel crammed, but if done well you won’t feel like you’re living in a box.”

The 23-year-old Algonquin student lived in an even smaller 23 square-metre condo in Montreal while attending McGill University and says he likes the idea of micro-condos in the heart of the city, as opposed to larger homes in the suburbs.

“(People) spend lots of money on transportation and larger homes with too much space they barely inhabit (and) filled with junk they barely use,” says DeFilippi.

“What many people have forgotten about city life is that we don’t need be anti-social and live cloistered in our homes – the entire city is our home. And I think living small encourages us to realize that, and to experience the excitement of urban life.”

http://www.centretownnews.ca/business-news-98/4787-affordable-micro-condos-coming-to-town.html

Or you can go to page 13 to read it.

[jcphoenix]

I love this project. I love the efficiency and maximized storage in the kitchen, the transformative space, the Murphy beds (pretty sure the one in the picture above is one of the CLEI ones which I had considered purchasing myself), and the amenities list which is just right. If this building had been available when I bought into the Gotham three years ago, I would have strongly considered it, even though the location is a bit further from where I ideally want to be.

[Urbanarchit]

I visited because I thought this was an interesting project and wanted to learn more. They sold around 15-20% or so in two months, but are hoping to begin construction around late summer or fall and be done around March 2017.

Condo fees are $0.50 per square foot, and doesn't include utilities. Hideaway though is something like $0.43 per square foot and does include utilities.

They also mentioned Urban Capital is planning on doing another building where the James Street Pub is, but no idea when. I was surprised because David Wex said they weren't planning on doing any more buildings in Ottawa.

[1overcosc]

$0.50/sq ft does seem a little high but I suppose it's because the units themselves are so small.

[Urbanarchit]

Originally Posted by 1overcosc

$0.50/sq ft does seem a little high but I suppose it's because the units themselves are so small.

Depending on what your utilities cost, your condo fees will be between $157.5 per month ($1890 a year) to $280.50 ($3366). Doesn't seem too bad.

Also, the information I was given has seen the units reduced by $10,000 since the launch prices. The deposit is 20%, and bike storage is $300 for all units (was $500).

[MattRichling]

Project has been officially cancelled. It will become a rental building, but unsure of who the partners will be as of this time. Those who have purchased are being contacted, and the deposits are being returned.

The next project for UC will be James Street but there is no word on launch date yet - they are assuming spring or summer.

[cr872190]

Originally Posted by MattRichling

Project has been officially cancelled. It will become a rental building, but unsure of who the partners will be as of this time. Those who have purchased are being contacted, and the deposits are being returned.

The next project for UC will be James Street but there is no word on launch date yet - they are assuming spring or summer.

Woah that seems abrupt. Do you know how many units were sold?

[jimmyjones]

It was a neat idea, and if it was located in a warmer region where you could always go outside to escape the claustrophobia year round it would have even made some sense (like a lot of Europe).

[acottawa]

What the were charging was similar to regular sized condos in centretown, which I think was way to much for what they were offering, particularly with the custom furniture package (which I heard was 18k but now sure if that is true or not).

[OTSkyline]

Not entirely surprised as there was very little to any talk about this project for a while now... And unlike Europe, Asia and to some extent Toronto/Vancouver, Ottawans are not ready for micro-condos just yet, they love their space and guest bedrooms and parklands too much...

Still happy/hoping they go ahead and build a nice new building there (even if for rentals) as this will help further develop the so-called "SoBa" area.

[MattRichling]

Originally Posted by cr872190

Woah that seems abrupt. Do you know how many units were sold?

I dont have any recent notes with what exactly was sold, plus they are not releasing that information now. They sold more than I expected it to, and had a number of sales throughout the year (from what I can remember).

[Jayday23]

At Council next week:

APPLICATION TO DEMOLISH 488-500 BANK STREET, LOCATED WITHIN THE CENTRETOWN HERITAGE CONSERVATION DISTRICT AND TO CONSTRUCT A NEW BUILDING, ACCORDING TO FINAL PLANS BY CORE ARCHITECTS RECEIVED DECEMBER 12, 2012.

This includes the property formerly known as "Smart House".

[waterloowarrior]

staff report
http://app05.ottawa.ca/sirepub/agdocs.aspx?doctype=agenda&itemid=376280

The proponent, Taggart Construction Limited (Taggart), is now in a position to proceed
with the demolition and redevelopment; however, the originally issued heritage permit
expired on February 27, 2015.

On July 26, 2018, the proponent discussed with staff its intention to seek a new heritage
permit. The proponent plans to construct the same building (with interior and tenure
changes) and seeks to commence the project this year.



Interesting info from some of the background studies. The Taggart family owned part of the property from 1904-1972 (not sure if it's the same one)
http://webcast.ottawa.ca/plan/All_Image%...0Impact%20Statement%20D02-02-12-0092.PDF

[HighwayStar]

Pardon my confusion, but can someone help me decode what this means...

Originally Posted by waterloowarrior

The proponent, Taggart Construction Limited (Taggart), is now in a position to proceed with the demolition and redevelopment; however, the originally issued heritage permit expired on February 27, 2015.

So does this mean "demolish and build the new micro condo building" ?

Originally Posted by waterloowarrior

On July 26, 2018, the proponent discussed with staff its intention to seek a new heritage permit. The proponent plans to construct the same building (with interior and tenure changes) and seeks to commence the project this year.

So what confuses me is "Proponent (Taggart) intends to seek a new heritage permit".

Why would Taggart seek a new heritage permit if they are going to build something new?

I'm sure I'm missing something simple.. can anyone tell me what it is?

[waterloowarrior]

The property is in a designated Heritage Conservation District for Centretown.

To build or demolish a building in the Heritage Conservation District, you need special approval from City Council.

Originally the City gave approval for the heritage permits to demolish the buildings onsite and build the Smart House Condo project. However, that permit expired a few years ago.

Taggart is now re-applying for a heritage permit to demolish the existing buildings and construct a new multiresidential building. The new building will look the same on the outside as the Smart House proposal, however there will be interior layout and tenure (condo to rental) changes.

[HighwayStar]

Got it... thanks Waterloo... I"ve been walking by this property weekly for the last 6 years and always wondered what was going on.. cheers...