[Halifax] Aurora & Eventide (1540 Carlton) | ? m | 8 & 6 FL | U/C

[Jonovision]

I too am very curious why Killiam decided to do this. If I am still on the DAC when these come forward I will ask and report back.

[Dmajackson]

Renderings for the new proposal called Aurora & Eventide. Both Marco Group and Killam REIT say construction will begin this year. Aurora will have 65 units and Eventide will have 55 units. Renderings are from Marco's website.

EVENTIDE (westside)



AURORA (eastside)

[Dmajackson]

The Eventide building permitted has been submitted.

New Building - In Review - 1540 CARLTON STREET, HALIFAX - $22'000'000 - Residential Use - 54 Units - 9 Floors

[worldlyhaligonian]

Originally Posted by Dmajackson

The Eventide building permitted has been submitted.

New Building - In Review - 1540 CARLTON STREET, HALIFAX - $22'000'000 - Residential Use - 54 Units - 9 Floors

Shame about scale, but will add much needed density in this area. There are a surprising number of surface lots.

[Colin May]

Originally Posted by Dmajackson

The Eventide building permitted has been submitted.

New Building - In Review - 1540 CARLTON STREET, HALIFAX - $22'000'000 - Residential Use - 54 Units - 9 Floors

Unit cost : $407,407 and I assume that does not include the cost of the land.
Don't know how this helps the housing market. Any estimate of potential sales price ?

[Arrdeeharharharbour]

Originally Posted by Colin May

Unit cost : $407,407 and I assume that does not include the cost of the land.
Don't know how this helps the housing market. Any estimate of potential sales price ?

Is it fair to say that your expectation is that these units will remain empty?

[kzt79]

Originally Posted by Colin May

Unit cost : $407,407 and I assume that does not include the cost of the land.
Don't know how this helps the housing market. Any estimate of potential sales price ?

It helps by adding badly needed supply. These buildings will be full, with waitlists. Yes, they should be much larger, that is true.

[Colin May]

At TD a 5 year fixed high ratio mortgage is 5.44%. A 95% mortgage of $386,650 is circa $2,400 a month plus property taxes circa $4,400 a year.
If it is a rental the monthly costs will be higher with annual increases. Add in the cost of the land and we are looking at units that would eat up a large proportion of after tax income unless it is occupied by a couple. If it is a condo the building becomes less attractive to many younger working couples. An annual income of $100,000 per couple would make the building somewhat attractive.
Perhaps someone can post the cost and size in recent new builds.
We would like to sell and move to Avonhurst but the nagging question is always " Will the money run out before we die ? "
A tough time for young people.

[worldlyhaligonian]

It would be great if Eventide could proceed as the squat building and the original proposal for the Aurora could proceed.

It was a beauty:



Other renderings of the current plan:

[teddifax]

I don't understand why they changed from the original design to now a much smaller building and far less attractive as well.

[kzt79]

Originally Posted by Colin May

At TD a 5 year fixed high ratio mortgage is 5.44%. A 95% mortgage of $386,650 is circa $2,400 a month plus property taxes circa $4,400 a year.
If it is a rental the monthly costs will be higher with annual increases. Add in the cost of the land and we are looking at units that would eat up a large proportion of after tax income unless it is occupied by a couple. If it is a condo the building becomes less attractive to many younger working couples. An annual income of $100,000 per couple would make the building somewhat attractive.
Perhaps someone can post the cost and size in recent new builds.
We would like to sell and move to Avonhurst but the nagging question is always " Will the money run out before we die ? "
A tough time for young people.

These will almost certainly be rentals.

[Jreeb]

Originally Posted by kzt79

These will almost certainly be rentals.

There was an article in AllNS today that mentions rent would most likely be more than $2,000 per month for a mix of studio, one-bed, and two-beds since the cost per unit is upwards of $500,000.

Killam apparently plans on having lower rental rates/smaller units at its next building at the south end of Hollis. Anyone know which one they are referring to?

It also mentioned they plan on redeveloping the Medical Arts building at 5880 Spring Garden before moving on to the Aurora building.

[worldlyhaligonian]

Originally Posted by Jreeb

There was an article in AllNS today that mentions rent would most likely be more than $2,000 per month for a mix of studio, one-bed, and two-beds since the cost per unit is upwards of $500,000.

Killam apparently plans on having lower rental rates/smaller units at its next building at the south end of Hollis. Anyone know which one they are referring to?

It also mentioned they plan on redeveloping the Medical Arts building at 5880 Spring Garden before moving on to the Aurora building.

Wild news as there have only been vague outlines of this Medical Arts development in the background of other proposal renderings.

[Dmajackson]

Construction Management Plan - Carlton West

[Dmajackson]

There is excavation equipment on site and a blasting permit has been submitted.