Echo Canal [113-115 Echo Dr] | 20m | 6f | U/C

[kwoldtimer]

Originally Posted by Ottawaboxingpt

I agree. At this point I have it in my head that there's a chance the project won't happen. Honestly, I'm indifferent at this point. My wife and I are health care workers and we both got Covid. I was very sick from it for the entire month of April. I say this simply because I'm not of the same mindset as I was a year ago. If the condo doesn't happen I'm selling my current home.... Retiring from my job and living down south for six months of the year. I'll just buy a resale condo for when we are staying in Ottawa. To be honest... Even if they condo still goes through I'll probably still sell my house next year.. retire and do the same plan. Getting really sick has a way of changing how you look at your future goals.

I haven't been sick, but my situation isn't all that different. If travel were possible, I'd be seriously considering selling my place (the prices they've been getting in this neighbourhood this year have been nothing less than astonishing!) and living abroad for a couple of years until it's clearer what the market is going to do. If prices continue to soar, a condo resale or even a rental would seem a better bet than a new build.

[Ottawaboxingpt]

Originally Posted by gosouth

Ottawaboxingpt ...Very sorry regarding your situation with Covid. Wishing you and your wife a full recovery, and a happy retirement.

Thank you... Be safe. Despite what many may lead you to believe.... This virus is no joke.

[Ottawaboxingpt]

Originally Posted by kwoldtimer

I haven't been sick, but my situation isn't all that different. If travel were possible, I'd be seriously considering selling my place (the prices they've been getting in this neighbourhood this year have been nothing less than astonishing!) and living abroad for a couple of years until it's clearer what the market is going to do. If prices continue to soar, a condo resale or even a rental would seem a better bet than a new build.

I agree, the market is crazy right now in Ottawa. Not sure how long that will last though. I'm hoping it will last until at least next year for when I sell 😁

Isla Mujeres...... That's where I'm going to go for six months of the year btw
....

Beautiful island..... You should check it out if you aren't familiar with it

[kwoldtimer]

Originally Posted by Ottawaboxingpt

I agree, the market is crazy right now in Ottawa. Not sure how long that will last though. I'm hoping it will last until at least next year for when I sell 😁

Isla Mujeres...... That's where I'm going to go for six months of the year btw
....

Beautiful island..... You should check it out if you aren't familiar with it

I’m more a Puerto Vallarta/San Miguel de Allende kind of guy ...

[passwordisnt123]

Originally Posted by Ottawaboxingpt

I agree, the market is crazy right now in Ottawa. Not sure how long that will last though. I'm hoping it will last until at least next year for when I sell 😁

Isla Mujeres...... That's where I'm going to go for six months of the year btw
....

Beautiful island..... You should check it out if you aren't familiar with it

Inventory levels for all housing types are at historic lows. At present there's just 0.9 months worth of inventory on the market. It's not physically possible to add enough supply to the market in that short a period of time to return the market to equilibrium.

https://www.thetulipteam.com/stats/

[Ottawaboxingpt]

Originally Posted by kwoldtimer

I’m more a Puerto Vallarta/San Miguel de Allende kind of guy ...

Yah but that's just details. As long as where you are there is sand between your toes you are I'm the right location

[Ottawaboxingpt]

Originally Posted by passwordisnt123

Inventory levels for all housing types are at historic lows. At present there's just 0.9 months worth of inventory on the market. It's not physically possible to add enough supply to the market in that short a period of time to return the market to equilibrium.

https://www.thetulipteam.com/stats/

Good point. That makes me feel more confident about selling next year as opposed to right now.

[Ottawaboxingpt]

So to update my purchase. This project has been officially cancelled and I have received my deposit back from the builders lawyer. It looks like they felt that they would not make the sales target dates that they had set out so they decided to cancel the project.

I have to say I really respect Uniform on how they dealt with this. They could have extended the dates many times and dragged things out but they didn't. As a potential purchaser I could have been stuck waiting for years to have this done and to be honest I really wouldn't have had the stomach for that.

I can't speak for other buyers but ultimately I'm ok with this. I know that with Covid still going on and the economic uncertainty with that it probably would have stressed me out always playing the waiting game.

I figured I'd write this and let everyone know in case any of you were curious as to what's going on with this project.

[Norman Bates]

Originally Posted by Ottawaboxingpt

So to update my purchase. This project has been officially cancelled and I have received my deposit back from the builders lawyer. It looks like they felt that they would not make the sales target dates that they had set out so they decided to cancel the project.

I have to say I really respect Uniform on how they dealt with this. They could have extended the dates many times and dragged things out but they didn't. As a potential purchaser I could have been stuck waiting for years to have this done and to be honest I really wouldn't have had the stomach for that.

I can't speak for other buyers but ultimately I'm ok with this. I know that with Covid still going on and the economic uncertainty with that it probably would have stressed me out always playing the waiting game.

I figured I'd write this and let everyone know in case any of you were curious as to what's going on with this project.

Well, I think I speak for many here in expressing disappointment that this project is not proceeding. But gratitude that you’ve come here to brief us on this outcome.

[Ottawaboxingpt]

Originally Posted by Norman Bates

Well, I think I speak for many here in expressing disappointment that this project is not proceeding. But gratitude that you’ve come here to brief us on this outcome.

I wanted to come here and share this information as many have been really helpful when I had questions. I just wanted to make sure it was done respectfully where Uniform is concerned as they have treated us very well throughout the process. I have no idea but I wouldn't be surprised if it's relaunched again at a later date and perhaps with a different floor plan. That's not based on anything but my own gut feeling. That location is amazing and it would be a shame not to have some sort of project done there. My wife and I have parked there many times and walked the canal and imagined what it was going to be like living there. Hopefully at some point down the road it will eventually get built. Even though I probably won't look to purchase at that time I will be keenly interested in following the project if it happens

[kwoldtimer]

Originally Posted by Ottawaboxingpt

So to update my purchase. This project has been officially cancelled and I have received my deposit back from the builders lawyer. It looks like they felt that they would not make the sales target dates that they had set out so they decided to cancel the project.

I have to say I really respect Uniform on how they dealt with this. They could have extended the dates many times and dragged things out but they didn't. As a potential purchaser I could have been stuck waiting for years to have this done and to be honest I really wouldn't have had the stomach for that.

I can't speak for other buyers but ultimately I'm ok with this. I know that with Covid still going on and the economic uncertainty with that it probably would have stressed me out always playing the waiting game.

I figured I'd write this and let everyone know in case any of you were curious as to what's going on with this project.

That’s remarkably fast from launch of sales to cancellation. As you say, it’s very much to the developers credit. I wonder if, in addition to slow sales, purchasers weren’t trying to get out? Or were other factors at play?

[rocketphish]

Originally Posted by Ottawaboxingpt

So to update my purchase. This project has been officially cancelled and I have received my deposit back from the builders lawyer. It looks like they felt that they would not make the sales target dates that they had set out so they decided to cancel the project.

I have to say I really respect Uniform on how they dealt with this. They could have extended the dates many times and dragged things out but they didn't. As a potential purchaser I could have been stuck waiting for years to have this done and to be honest I really wouldn't have had the stomach for that.

I can't speak for other buyers but ultimately I'm ok with this. I know that with Covid still going on and the economic uncertainty with that it probably would have stressed me out always playing the waiting game.

I figured I'd write this and let everyone know in case any of you were curious as to what's going on with this project.

I'm sorry to hear that, and thanks for letting us know.

That's quite a contrast to Uniform's latest project in Wateridge Village, where they just sold out all 42 homes in Phase 2 (a mix of singles, semis and towns) in a couple of weeks of pre-sales, without any advertising whatsoever. It's a totally different product, at a different price-point, but they must be doing something right over there.

Hopefully they relaunch Echo before too long in a more successful format.

[YOWetal]

Originally Posted by rocketphish

I'm sorry to hear that, and thanks for letting us know.

That's quite a contrast to Uniform's latest project in Wateridge Village, where they just sold out all 42 homes in Phase 2 (a mix of singles, semis and towns) in a couple of weeks of pre-sales, without any advertising whatsoever. It's a totally different product, at a different price-point, but they must be doing something right over there.

Hopefully they relaunch Echo before too long in a more successful format.

Yeah I mean they paid what they paid for the land so hard to see them being able to relaunch other than if they can go higher which seems very unlikely. They could do something with much lower construction cost and lower prices but hard to see that working either.
It was a nice looking project but if they can't sell those type of units in this market when will they be sellable?

[rocketphish]

Echo is being relaunched as "Sophisticated boutique apartment rentals" brought to you by Uniform Living.

"For three decades Uniform Urban Developments has built a solid reputation constructing iconic homes in some of Ottawa’s finest neighbourhoods... We are expanding our business with the ‘Uniform Living’ branch because we recognized this same approach is deserved in rental homes."

https://echocanal.com
https://uniformliving.com

[kwoldtimer]

Welcome to the Age of Rental ...

[McKellarDweller]

Ouch. Another let-down in the Ottawa real estate market.
It's a town dominated by second and third-rate consumer preferences.
It's a gamble offering any high-quality project beyond something very small-scale in this town.
Quality projects like The Merit and 1451 Wellington have proven the exception, while the city fills up with spandrel and cheap panels.

EDIT: at least we'll get a nice rental building here

[rocketphish]

Revised application to redesign the approved building, originally intended as a condominium, into a rental building with 59 units and three levels of underground parking with 74 parking spaces and 66 bicycle parking spaces. The building design is consistent with the previous approval with most of the revisions resulting from redesigning the internal layout.

Development application:
https://app01.ottawa.ca/postingplans...appId=__B08FOV


Siteplan:




Renderings:












Floorplans:

[rocketphish]

Unfortunately they have simplified the exterior, presumably to accommodate the balconies required by the extra units.

If you want to play "before and after", you can see the previous renderings here.

[J.OT13]

Originally Posted by rocketphish

Unfortunately they have simplified the exterior, presumably to accommodate the balconies required by the extra units.

If you want to play "before and after", you can see the previous renderings here.

I can see a few differences, but it doesn't impact the overall design too much. Still much nicer than many other modern residential mid-rises in the city.

[kwoldtimer]

Originally Posted by J.OT13

I can see a few differences, but it doesn't impact the overall design too much. Still much nicer than many other modern residential mid-rises in the city.

$4000+ per month? Anybody want to start a pool?