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View Full Version : Mondrian | 73m | 24 fl | Completed


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AuxTown
Oct 28, 2007, 6:57 PM
Mondrian
24 Storey building with ground-level retail, 5 floors of above ground parking podium enclosed in a luminescent glass screen, 18 floors of loft-style condominiums
Developer: Urban Capital
Location: 324 Laurier Avenue (Bank @ Laurier)
Web: www.mondriancondominiums.ca (http://www.mondriancondominiums.ca)
Picture:

Renderings

http://img371.imageshack.us/img371/8943/mondriancolourni6.jpg

http://img387.imageshack.us/img387/2350/tallrenderpf4.png

http://jamieloubier.8m.com/PictureStorage/Mondrian/RenderingBank@Laurier.gif

http://jamieloubier.8m.com/PictureStorage/Mondrian/RenderingBank@Gloucester.gif

http://img293.imageshack.us/img293/6066/mondriandaywz4.jpg

Most Recent (September 15, 2009 photos by me)

http://img156.imageshack.us/img156/983/090915121422.jpg

Workers puting in new interlock sidewalks @ Bank and Gloucester

http://img132.imageshack.us/img132/4446/090915121012.jpg

South view is almost complete except for a few panes of glass on the penthouse floors/mechanical rooms

http://img156.imageshack.us/img156/4938/090915121044.jpg

New glass framing the condo entrance and signs above the public parking

http://img179.imageshack.us/img179/2912/090915121235.jpg

harls
Oct 29, 2007, 1:20 PM
Construction photo set here:

http://www.flickr.com/photos/blix613/sets/72157601583706152/

AuxTown
Oct 29, 2007, 5:58 PM
Thanks Harls, hopefully you continue to add to that album.

azz
Oct 29, 2007, 6:11 PM
I remember there was a post awhile back that had the prices and, if Im not mistaken, the units that were still available at that time.

Does anybody have that information off hand, or should I just call the company and wait for a fax?

Thanks.

Azz

AuxTown
Oct 29, 2007, 6:22 PM
Just PM me and I'll email you the pricelist as of Sept. 5, 2007. Apparently they are around 80% sold out now with a number of units on hold.

gatt
Oct 29, 2007, 10:32 PM
24 storey?i thought it was 22.cool!

vectox
Oct 31, 2007, 9:38 PM
Curious as well...given that I'll bet the prices have risen substantially since they started construction.

AuxTown
Nov 1, 2007, 12:24 AM
Hey guys, here is the most up-to-date price list for the Mondrian if you're curious. The prices for their next development will be similar to the pre-construction prices for Mondrian, according to the woman in the sales office. My unit (#11) is also sold out now.

http://jamieloubier.8m.com/PictureStorage/Mondrian/MondrianPrices (Oct 31).jpg

azz
Nov 1, 2007, 1:30 PM
I talked to Maureen (contact on the price list) yesterday and I asked when to expect information on movings on the Banks and Gladstone development....she said dont expect anything (i.e. renderings/drawings) until spring.

azz

harls
Nov 1, 2007, 2:32 PM
O-Town, will you get a 1% rebate on the GST? or how does that work? 1% of 250k is a fair chunk of change.

AuxTown
Nov 1, 2007, 2:38 PM
O-Town, will you get a 1% rebate on the GST? or how does that work? 1% of 250k is a fair chunk of change.

I've been thinking about that myself. I might bring it up when it comes time to meet with the designer to see if I can get an upgrade thrown in. Have to wait and see.

Danman
Nov 1, 2007, 3:36 PM
I've been thinking about that myself. I might bring it up when it comes time to meet with the designer to see if I can get an upgrade thrown in. Have to wait and see.
If you are a first time buyer you will gett ALL the GST back in 2009...Now thats a chunk of change :yes:

Jamaican-Phoenix
Nov 1, 2007, 3:42 PM
When is the exterior for the Mondrian supposed to be complete? 2008? 2009?

AuxTown
Nov 1, 2007, 3:47 PM
If you are a first time buyer you will gett ALL the GST back in 2009...Now thats a chunk of change :yes:

Tell me more....is that the RRSP thing where I get the money back but I have to put it all into RRSP in a certain number of years? I really need to look into this stuff more.

People are supposed to start moving in January 2009 (I don't expect it to be done before March). So early 2009 and the outside should be finished.

YOWetal
Nov 1, 2007, 5:42 PM
Tell me more....is that the RRSP thing where I get the money back but I have to put it all into RRSP in a certain number of years? I really need to look into this stuff more.

People are supposed to start moving in January 2009 (I don't expect it to be done before March). So early 2009 and the outside should be finished.

Why do you say first time buyers will get all the GST back in 2009? It is my understanding the purchase agreements state price includes net GST and therefore people who have already purchased will not be affected by the drop in GST.

agrigentum
Nov 1, 2007, 5:43 PM
Notice how one of the renderings shows a Starbucks on the main floor? I spoke with the manager of a Starbucks outlet nearby who says that they never heard of a location opening up there.

IMO, a new, bigger Starbucks at Mondrian would be an improvement over the cramped location at Bank/Slater. Who knows, it may even stay open passed 8pm!

Tor2Ott
Nov 1, 2007, 6:10 PM
I've been thinking about that myself. I might bring it up when it comes time to meet with the designer to see if I can get an upgrade thrown in. Have to wait and see.

Yes, please let us know how that will work. It'll be nice to get back 1%.

Danman
Nov 2, 2007, 3:06 PM
Here is a link with all the info about getting your GST back
http://www.cra-arc.gc.ca/tax/individuals/topics/gst-hst-rebate/buy_home-e.html

AuxTown
Nov 2, 2007, 3:12 PM
Thanks Dan! Do you know if our builder will be crediting it to our final price or will we have to send the forms in and get it back from the government?

Danman
Nov 2, 2007, 3:16 PM
Thanks Dan! Do you know if our builder will be crediting it to our final price or will we have to send the forms in and get it back from the government?
Not quite sure how they will go about it...but a credit on the total amount sounds good to me. They will also have to pay us some interest earned with our down payments, which I dont think will be that much

YOWetal
Nov 2, 2007, 5:18 PM
Thanks Dan! Do you know if our builder will be crediting it to our final price or will we have to send the forms in and get it back from the government?


You won't be getting a credit the price you were quoted already includes net GST, that is the GST minus the rebate. The builder will do the paperwork for the rebate, but if foe some reason you are not eligible(Not your primary residence, occupied by someone else before you etc) for the rebate the builder has the right to come to you to pay the difference ie more than your original purchase price. So the GST cut will not go to purchasers but in effect is a price increase for the builder and a large windfall for them.

AuxTown
Nov 2, 2007, 6:19 PM
You won't be getting a credit the price you were quoted already includes net GST, that is the GST minus the rebate. The builder will do the paperwork for the rebate, but if foe some reason you are not eligible(Not your primary residence, occupied by someone else before you etc) for the rebate the builder has the right to come to you to pay the difference ie more than your original purchase price. So the GST cut will not go to purchasers but in effect is a price increase for the builder and a large windfall for them.

Those tricky bastards, they get us again! Aw well, at least my price won't be going up any. Thanks for the info.

p_xavier
Nov 2, 2007, 7:11 PM
Those tricky bastards, they get us again! Aw well, at least my price won't be going up any. Thanks for the info.

That was pretty clear in my East Market documents? I'm surprised that you haven't inquired more about that?

AuxTown
Nov 2, 2007, 7:39 PM
That was pretty clear in my East Market documents? I'm surprised that you haven't inquired more about that?

To be honest, I knew it existed, but move-in is so far off that I'm not even thinking about any of that stuff right now. I figure in the Spring I'll start figuring out the details.

vectox
Nov 2, 2007, 7:41 PM
Hmm...so while the price list indicates.."prices include GST"...they're talking about GST after the rebate? Do I have that right? I was under the assumption that "includes GST" in the price meant if you were eligible for a rebate you would be getting one and if not you paid the price...to me it doesn't make any sense for the company to come after people for an additional $15000 - $20000 when I'm guessing that a large number bought the condo as an investment.
At the same time it's likely buried somewhere in the "tome" that is the purchase agreement.

p_xavier
Nov 2, 2007, 8:54 PM
To be honest, I knew it existed, but move-in is so far off that I'm not even thinking about any of that stuff right now. I figure in the Spring I'll start figuring out the details.

Maybe I was a geek about things, but I actually read through the entire documentation, and that was clear there. I gues if you just read the price list and did a deposit, yes that can be misleading.

p_xavier
Nov 2, 2007, 9:02 PM
To be honest, I knew it existed, but move-in is so far off that I'm not even thinking about any of that stuff right now. I figure in the Spring I'll start figuring out the details.

If it's a similar documention than the one I got, it's in the section adjustments, d).

In my legal documentation, I got the Sale price without the GST, the GST then the rebate shown. The total comes to the sale price I had on the condo. It's crazy how high the prices have come up in just 3 years. I feel like I had a bargain on my unit.

vectox
Nov 2, 2007, 10:32 PM
Well...on the Mondrian contract it's under Adjustments 6. D...and it's a pretty hefty read at that. Really you need a lawyer to confirm what this section is or isn't. It has several conditions which may or not be met and not necessarily what is this inclusive less of that.....make sense??? read the section...you'll know what I mean. It seems to point back to the pricing guide like the one you posted. My recommendation is to confirm with the sales team....if you want a definite answer...or spend a couple hundred bucks to have a lawyer go over it if you REALLY want to be sure ;).

harls
Nov 8, 2007, 10:17 PM
The excavation for the Mondrian site is a lot deeper than I thought. I'll try to snap some pics tomorrow. The crane looks like it will be going in pretty soon.

harls
Nov 9, 2007, 7:41 PM
The hole is getting pretty deep..

http://farm3.static.flickr.com/2214/1935706791_c9c032a561_b.jpg

http://farm3.static.flickr.com/2304/1935718753_154f9d7142_b.jpg

http://farm3.static.flickr.com/2394/1935728393_b3fcb761c4_b.jpg

eemy
Nov 9, 2007, 8:29 PM
I kind of wonder, how do they dig the ramp out of the hole?

AuxTown
Nov 9, 2007, 8:40 PM
I kind of wonder, how do they dig the ramp out of the hole?

I've been asking myself that same question for a couple weeks now. They must have to use the crane somehow.....any other insight?

the capital urbanite
Nov 9, 2007, 9:14 PM
flying dump trucks?

Jamaican-Phoenix
Nov 9, 2007, 10:21 PM
Actually, they intially have a digger at the base of the slope adn a dump truck in front of it heading tos treet level. The digger will scoop up dirt and drop it into the truck. This process repeats itself a few times until there is a decent ledge where the base of the ramp/slope used to be. Then special digger/crane hybrids are used to scoop out as much of the rest out from street level by lowering huge bins to pick up the dirt and haul it back up to the street and into a dump truck. There is always a little left over, and the builders/workers will take care fo the last little dregs.

harls
Nov 20, 2007, 6:54 PM
Gettin there.

http://farm3.static.flickr.com/2249/2050063415_22cb586f43_b.jpg

http://farm3.static.flickr.com/2167/2050847510_b553537d2f_b.jpg

AuxTown
Nov 29, 2007, 5:04 AM
I'm in Toronto working for the month and I'm very curious to see the progress on the construction (if any). Anyone have a couple updated shots? How does winter factor in if they got to the point where they could lay down a foundation? Is it possible to do so in freezing or near-freezing weather?

harls
Nov 29, 2007, 3:34 PM
^ I was going to go by there today at lunch, since it's not so *$@& cold today. I don't think much has changed.. just a deeper hole. No crane base yet.

harls
Nov 29, 2007, 7:17 PM
http://farm3.static.flickr.com/2332/2074403802_cf2bfb9c97_o.jpg

http://farm3.static.flickr.com/2239/2074405198_b6faf5e57b_b.jpg

http://farm3.static.flickr.com/2242/2074406518_c8915be72d_b.jpg

http://farm3.static.flickr.com/2030/2073615917_b09c923344.jpg?v=0 http://farm3.static.flickr.com/2300/2073616153_084dc94e8a.jpg?v=0

AuxTown
Nov 29, 2007, 11:08 PM
Thanks Harls. Looks like they are at the bottom of the hole now and just evening it out in all areas. Next will be the spectacle of removing that ramp followed by the crane! Still snow in O-town eh? Nothing here in the centre of the universe.

Skyway
Dec 5, 2007, 5:31 PM
in today's ottawa citizen:

The homebuyer pays GST at the rate in effect when the deal was signed (six or seven per cent). The buyer can then apply to the government to recover the difference between the GST amount paid and GST at the five per cent rate in 2008.

http://www.canada.com/ottawacitizen/news/story.html?id=2faa55d9-9cd4-4fbe-8702-acbadac8ca2f&k=17151

AuxTown
Dec 5, 2007, 11:00 PM
Can you guys say upgrade?? If I am able to recover a couple of thousand dollars it would be a perfect excuse to upgrade a few aspects of the condo (better doors, curtains). It will be interesting to see how this pans out.

Deez
Dec 6, 2007, 5:06 AM
http://farm3.static.flickr.com/2332/2074403802_cf2bfb9c97_o.jpg

http://farm3.static.flickr.com/2239/2074405198_b6faf5e57b_b.jpg

http://farm3.static.flickr.com/2242/2074406518_c8915be72d_b.jpg

http://farm3.static.flickr.com/2030/2073615917_b09c923344.jpg?v=0 http://farm3.static.flickr.com/2300/2073616153_084dc94e8a.jpg?v=0


These will make great study aides for my foundation design exam tomorrow. Thanks!

AuxTown
Dec 6, 2007, 11:25 PM
These will make great study aides for my foundation design exam tomorrow. Thanks!

So tell me, how do you start a foundation? Do they start with the crane or do you have to pour some concrete first?

Deez
Dec 7, 2007, 3:47 AM
Since the course was focused on the mechanics of how excavations fail and how you can prevent that from happening, as opposed to actual real-world foundation construction, I'm far from being an expert on this. However, I can lend a little bit of insight. I expect that a few other forumers can as well.

The nature of the kind of foundation that is built is going to depend on the soil conditions in and below the excavation site. Under some condtions, a "raft" foundation (basically a concrete slab covering the excavation) can be used. Other situations call for the use of concrete footings, which are those square/rectangular slabs with little column stubs sticking out of them. Together, the footings carry the load of the building and transfer it to the ground below. In really weak soil, piles are sometimes driven below the excavation depth until a solid level of soil is reached.

From what I've observed, construction cranes are usually built on a footing around the same time concrete starts flowing.

harls
Dec 11, 2007, 8:27 PM
http://farm3.static.flickr.com/2117/2104214224_21a9abbd98_b.jpg

http://farm3.static.flickr.com/2280/2104212326_7763c9327c_b.jpg

http://farm3.static.flickr.com/2164/2103431493_4c86232b1c_b.jpg

http://farm3.static.flickr.com/2252/2104206106_024d4e8bd1_b.jpg

http://farm3.static.flickr.com/2227/2103422149_acb150621c_b.jpg

http://farm3.static.flickr.com/2001/2104199046_8ca65e3a0c_b.jpg

AuxTown
Dec 11, 2007, 9:33 PM
I don't know what the blue crap is, but it looks like a good sign to me. Not shown in the photos is the other side of the hole (near Gloucester St.) where they have dumped a whole ton of fine gravel into the site. I hope that is going to be the base for the foundation. They were taking truckload after truckload of rocks from that ramp today......my theory of helicopter extraction of the machines is looking more and more possible!

harls
Dec 11, 2007, 9:45 PM
I think that blue stuff is styrofoam insulation..weird.

AuxTown
Dec 11, 2007, 9:57 PM
Actually, from my days in construction, I think it is a foam material that will surround the foundation and ensure that water drains down and away from the building.....so that we don't find our cars in the parking garage under a foot of water someday. Usually they put that foam on the outside of the foundation once it is poured but I guess, since there is very little room on the outside of the excavation, that they will just pour the concrete on the inside of the foam? Interesting.

Danman
Dec 11, 2007, 10:13 PM
Actually, from my days in construction, I think it is a foam material that will surround the foundation and ensure that water drains down and away from the building.....so that we don't find our cars in the parking garage under a foot of water someday. Usually they put that foam on the outside of the foundation once it is poured but I guess, since there is very little room on the outside of the excavation, that they will just pour the concrete on the inside of the foam? Interesting.

They've actually started putting the blue foam...Let me empty my camera and post a pic!

Jamaican-Phoenix
Dec 11, 2007, 11:56 PM
Actually, from my days in construction, I think it is a foam material that will surround the foundation and ensure that water drains down and away from the building.....so that we don't find our cars in the parking garage under a foot of water someday. Usually they put that foam on the outside of the foundation once it is poured but I guess, since there is very little room on the outside of the excavation, that they will just pour the concrete on the inside of the foam? Interesting.

You're right; it does exactly that. Also helps insulate a bit I believe, but I could be wrong. :shrug:

Normally they do it after the foundation is poured, but since there is little space and it's winter, they're doing it now as a precaution.

I have no idea how that will affect the building though...

eemy
Dec 12, 2007, 6:04 AM
The lower levels *are* going to be parking, garage. Perhaps the cranes etc. will just drive up the parking garage ramps. ;)

Danman
Dec 14, 2007, 7:45 PM
I was by this morning and it seemed like they were marking the position of where the crane is going to be...

AuxTown
Dec 14, 2007, 9:18 PM
Good news! Another surface parking lot soon to be a crane. Another 10-15 of those and our downtown will be rid of those horid eyesores!

harls
Dec 18, 2007, 7:37 PM
Looks like they're preparing to install the crane base (in that square with the re-bar, I'm assuming..)


http://farm3.static.flickr.com/2083/2120424789_b9cae27187_b.jpg

http://farm3.static.flickr.com/2062/2120426855_fbbefaee13_b.jpg

http://farm3.static.flickr.com/2222/2120428713_a6952630d5_b.jpg

http://farm3.static.flickr.com/2013/2121209170_9f075eb88a_b.jpg

looks like a in-depth game of x and o's going on here...

http://farm3.static.flickr.com/2024/2121207556_ab56cc58d7_b.jpg

ajldub
Dec 19, 2007, 12:05 AM
I was expecting more snow in the pit...

citizen j
Dec 19, 2007, 12:19 AM
^It's hotter down there 'cause it's closer to the centre of the earth. Right?

AuxTown
Dec 19, 2007, 4:12 AM
Does the crane end up being an elevator shaft in most buildings? If not, what do they do with the hole left behind?

c_speed3108
Dec 19, 2007, 1:23 PM
Does the crane end up being an elevator shaft in most buildings? If not, what do they do with the hole left behind?

I think it is usually located beside the building...I suppose it depends on the building. I know all the ones at U of O were that way. As was Claridge plaza on Rideau.

Danman
Dec 21, 2007, 1:39 PM
Does the crane end up being an elevator shaft in most buildings? If not, what do they do with the hole left behind?

It looks like the crane will be going where the pool will be. Not sure if it will be going thru the commercial parking elevator...but definitely thru the pool

http://i146.photobucket.com/albums/r247/retrodan_01/crane.jpg

harls
Dec 21, 2007, 1:53 PM
One of these days I'm going to run into you, Danman!

Danman
Dec 21, 2007, 2:37 PM
One of these days I'm going to run into you, Danman!

You probably already have :haha:

harryc
Dec 21, 2007, 2:58 PM
Thank you Harls and DanMan for all the photos

Paul1982
Dec 22, 2007, 9:22 AM
Does the crane end up being an elevator shaft in most buildings? If not, what do they do with the hole left behind?

From what I seem to remember being told there is going to be a air intake shaft concealed with lattice work in the outdoor common amenity area (near the reflecting pool and bbq's) from the location of the crane looks like it will be in this "hole" in the podium, but outside the condo tower.

AuxTown
Dec 22, 2007, 3:56 PM
From what I seem to remember being told there is going to be a air intake shaft concealed with lattice work in the outdoor common amenity area (near the reflecting pool and bbq's) from the location of the crane looks like it will be in this "hole" in the podium, but outside the condo tower.

Thanks Paul, you seem to know your stuff. Are you a future Mondrian resident? If so, you should join the Facebook group, Danman keeps us nice and uptodate with his pics.

Paul1982
Dec 22, 2007, 9:42 PM
Thanks Paul, you seem to know your stuff. Are you a future Mondrian resident? If so, you should join the Facebook group, Danman keeps us nice and uptodate with his pics.

I am a future resident... but wasn't aware there we had a facebook group :P

harls
Jan 7, 2008, 8:35 PM
More pics from today..

http://farm3.static.flickr.com/2145/2176111910_6d5f9c1ed0_b.jpg

http://farm3.static.flickr.com/2212/2176113886_3db1c294cc_b.jpg

Getting ready for the crane

http://farm3.static.flickr.com/2162/2176115944_193524777e_b.jpg

I think there's an elevator of some sorts on the one side to supply tanks to to the workers below..

http://farm3.static.flickr.com/2394/2176118038_8822bf45a5_b.jpg

http://farm3.static.flickr.com/2275/2176121798_3c4b44e6cb_b.jpg

harls
Jan 8, 2008, 4:26 PM
Went by the site on my way to the dentist this morning..the crane has arrived.

Danman
Jan 8, 2008, 4:31 PM
Went by the site on my way to the dentist this morning..the crane has arrived.
Yep I saw it too....Should be up by the end of the day :banana: :cheers: :banana:

harls
Jan 8, 2008, 6:21 PM
Standing on Bank Street @ Queen, I tried to envision the Mondrian tower in the distance.. this thing is going to add to the density of the city quite a bit. Once the crane is erected, I'll try to get a shot from the Museum of Civilization à la Boris2k7 (http://img214.imageshack.us/img214/2594/ottday1tn4.jpg)

Jamaican-Phoenix
Jan 8, 2008, 7:35 PM
Now if only that place could become our version of Times Square... :)

Place Laurier has a nice ring to it, eh? :D


I'm hoping this thing turns out as cool as it's renderings; that would be awesome. :)

Danman
Jan 8, 2008, 8:03 PM
http://i146.photobucket.com/albums/r247/retrodan_01/image044.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/image032.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/image29.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/image030.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/image500.jpg

Tor2Ott
Jan 8, 2008, 8:49 PM
I'm hoping this thing turns out as cool as it's renderings; that would be awesome. :)

Think East Market with some random red stripes.

AuxTown
Jan 9, 2008, 1:16 AM
Yay!

Danman
Jan 10, 2008, 3:12 PM
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1009.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1010.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1008.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1004.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1003.jpg
http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane1002.jpg

Photos by Danman

harls
Jan 10, 2008, 3:26 PM
Man that sucker's big! I thought it would be a bit taller, though - taller than 180 Kent at least.

Why did I have to pick TODAY to work from home? Blast.

Danman
Jan 10, 2008, 3:37 PM
Man that sucker's big! I thought it would be a bit taller, though - taller than 180 Kent at least.

I'm sure they will raise it to make it higher it once the podium is built...need's more satbility to hold it up

p_xavier
Jan 10, 2008, 3:54 PM
I'm still surprised the town houses are not sold. They are huge (well compared to the average condo) and not that expensive.

ottawagal
Jan 10, 2008, 6:14 PM
Cool. I missed seeing the 180 Kent crane go up (they did it on a long weekend) so it's nice to see the pics of the Mondrian one.

The view from my office:

http://farm3.static.flickr.com/2273/2183660026_4ee39e35e6.jpg (http://www.flickr.com/photos/ottawagal/2183660026)

http://farm3.static.flickr.com/2312/2183660112_528ce56e88.jpg (http://www.flickr.com/photos/ottawagal/2183660112)

Ottawade
Jan 11, 2008, 12:54 AM
Town houses? Huh?

I'm still surprised the town houses are not sold. They are huge (well compared to the average condo) and not that expensive.

p_xavier
Jan 11, 2008, 1:37 AM
Town houses? Huh?

On the 6th floor, there are some for sale.

Marcus CLS
Jan 11, 2008, 2:13 AM
I am new to the Ottawa skyscraper threads. I can see how everyone seems so excited about projects in Ottawa. As excited as I am too, Ottawa is a slow and steady growth city. I suspect that after the Mondrian, new construction is going to slow in the next year. There is stuff happening in the US economy that may spill over and slow us down.

The way I see it the next projects due for construction are based on advance sales, Stonework Lofts and Westboro Station in the west end.

The 2nd towers of the two tower projects by Claridge Plaza on Rideau St. and Hudson Park II, I suspect are not going to go ahead to construction as quickly as we would like them too. I predict sales will be slow for Tower Twos.

Some people have expressed in threads frustration on why it is taking so long for certain projects to commence construction. In regards to high rise condos the majic number appears to be 60 percent advance sales.

I read this in an article on the financing of developement projects. A prime example is the Aquerello project in the Dows Lake vicinity 2 to 3 years ago.

The project reached 50 percent sales in a short period of time. For the next year the number did not change. The project was cancelled. I suspect that the reason for this was for one whole year they could not get that 10 percent to kick in Bank Financing.

Anyways, these are my first comments and Hello!

clynnog
Jan 11, 2008, 2:26 AM
I read this in an article on the financing of developement projects. A prime example is the Aquerello project in the Dows Lake vicinity 2 to 3 years ago.

The project reached 50 percent sales in a short period of time. For the next year the number did not change. The project was cancelled. I suspect that the reason for this was for one whole year they could not get that 10 percent to kick in Bank Financing.



IIRC the Aquerello project changed ownership from the original owner/front man to the project architect who wanted to try and do it. When the architect did the proformas in detail it didn't work out financially (probably what the original owner had already discovered). As well, I believe that there may be geotechnical and soil cleanup issues on that site.

AuxTown
Jan 11, 2008, 2:23 PM
Can someone change the name of this thread to 'Construction' instead of 'Excavation' please? I have no idea how to do so.

harls
Jan 11, 2008, 3:10 PM
Thy will be done.

harls
Jan 11, 2008, 7:29 PM
I tried to get all three construction cranes in the same shot, but it was difficult... so I settled for the two big'uns. Maybe I'll try again when it's not so dreary outside and with my better camera.

I cloned some bits that were missing in PS..

http://farm3.static.flickr.com/2144/2186067848_3076ec5799_b.jpg

harls
Jan 11, 2008, 7:49 PM
another shot with Hudson Park peeking through

http://farm3.static.flickr.com/2078/2186103200_f1be323194_b.jpg

Mille Sabords
Jan 11, 2008, 9:38 PM
I am new to the Ottawa skyscraper threads. I can see how everyone seems so excited about projects in Ottawa. As excited as I am too, Ottawa is a slow and steady growth city. I suspect that after the Mondrian, new construction is going to slow in the next year. There is stuff happening in the US economy that may spill over and slow us down.

The way I see it the next projects due for construction are based on advance sales, Stonework Lofts and Westboro Station in the west end.

The 2nd towers of the two tower projects by Claridge Plaza on Rideau St. and Hudson Park II, I suspect are not going to go ahead to construction as quickly as we would like them too. I predict sales will be slow for Tower Twos.

Some people have expressed in threads frustration on why it is taking so long for certain projects to commence construction. In regards to high rise condos the majic number appears to be 60 percent advance sales.

I read this in an article on the financing of developement projects. A prime example is the Aquerello project in the Dows Lake vicinity 2 to 3 years ago.

The project reached 50 percent sales in a short period of time. For the next year the number did not change. The project was cancelled. I suspect that the reason for this was for one whole year they could not get that 10 percent to kick in Bank Financing.

Anyways, these are my first comments and Hello!

Hello and welcome.

Very perceptive comments, although with respect to Claridge Plaza, they already have crews booked to start this spring on Tower II which is already about a quarter sold. Claridge is big enough to pay out of their pocket for construction without bothering to go to the bank and by having a built tower, they can capture more sales by actually promising buyers units that actually exists, as opposed to the other projects that may still be on paper as we reach the end of the cycle...

Because on that, I agree with you, the present cycle has run its course. Average new condos are now about $355/sq.ft. and I don't see there being much more room to push that up. Construction costs have continued to escalate, land is getting pricier and pricier as those who own prime sites smell the bonanza, plus city council will probably eliminate the Development Charge exemption in the downtown core next year, which will totally tilt the economics of any new condo project.

I suspect the best time to buy a condo will be by mid-next year, as buildings try to close out sales.

This doesn't mean that "Ottawa isn't a condo type of town", as the newspapers will certainly proclaim. It just means that we need a good shakedown for prices to come back to earth. Starting with construction costs.

Mind you, we are far from the ugly bubbles that cities like Toronto, Vancouver and Calgary will have to deal with. Average new condos in Vancouver are about $500/sq.ft., in Calgary $475, in Toronto some go between $600-$1,000 (Trump). Those bubbles will hurt a whole lot more when they pop. Vancouver's will probably last longer because of the Olympics, and Calgary's has another year or two to go before the US presidency changes, Iraq oil starts flowing again and oilsands projects become comparatively too expensive.

If those two cities' condo bubbles keep going it'll be like a mosquito hitting a windshield. Looks like Calgary's is slowing down at the right time, I wish them the best.

Danman
Jan 11, 2008, 11:06 PM
a couple more...

http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane2004.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondriancrane2001.jpg

Rook
Jan 16, 2008, 2:22 PM
I tried to get all three construction cranes in the same shot, but it was difficult... so I settled for the two big'uns. Maybe I'll try again when it's not so dreary outside and with my better camera.

I cloned some bits that were missing in PS..

http://farm3.static.flickr.com/2144/2186067848_3076ec5799_b.jpg

Three cranes from afar!

http://farm3.static.flickr.com/2262/2196846061_9117d282e0_b.jpg

m0nkyman
Jan 16, 2008, 7:10 PM
Mind you, we are far from the ugly bubbles that cities like Toronto, Vancouver and Calgary will have to deal with. Average new condos in Vancouver are about $500/sq.ft., in Calgary $475, in Toronto some go between $600-$1,000 (Trump). Those bubbles will hurt a whole lot more when they pop. Vancouver's will probably last longer because of the Olympics, and Calgary's has another year or two to go before the US presidency changes, Iraq oil starts flowing again and oilsands projects become comparatively too expensive.

If those two cities' condo bubbles keep going it'll be like a mosquito hitting a windshield. Looks like Calgary's is slowing down at the right time, I wish them the best.
Toronto, Vancouver, Edmonton, and Calgary are all over 400$/sq ft for downtown condos. Montreal has the political issues that we're all to familiar with to deal with. That leaves Ottawa sucking hind teat when it comes to prices for downtown condo pricing. I'm not sure that this is a bubble, or if it's a long term trend towards downtown condo living driven by demographics....

Mille Sabords
Jan 16, 2008, 7:52 PM
Toronto, Vancouver, Edmonton, and Calgary are all over 400$/sq ft for downtown condos. Montreal has the political issues that we're all to familiar with to deal with. That leaves Ottawa sucking hind teat when it comes to prices for downtown condo pricing. I'm not sure that this is a bubble, or if it's a long term trend towards downtown condo living driven by demographics....

That's what I was trying to say. The bubble is in those 4 cities (Toronto, Vancouver, Edmonton, Calgary). Prices suggest that Ottawa doesn't have a bubble, as does the fact that investors are a small part of our condo market, whereas they aer a much bigger presence in those 4 cities.

As for Montreal, it's actually been doing quite well but, in terms of prices, it started way lower than even Ottawa, so the fact that its prices are comparable to ours is, I'd say, a sign of a healthy market there.

AuxTown
Jan 19, 2008, 11:16 PM
Ottawa is definately not part of the condo craze going on in the other 4 cities, but our market has done well and will continue doing so in 2008. The supply of condos is down 20% as of December 2007 and we will need new projects to fill the void. With housing prices expected to continue to climb this year, gas prices staying high, and lots of new office development in the downtown, I'm sure the condo market will see a rise in values as well.

Aylmer
Jan 20, 2008, 2:02 AM
I don't think that there are really 4 cities with a condo boom.

Montreal does not have what we would consider a condo boom
nor Calgary to the full extent of the term.

Toronto and Vancouver are unique in Canada (untill Ottawa booms out of the blue!).

:)

Deez
Jan 24, 2008, 6:44 PM
I walked by the hole today. Excavation is still ongoing, but forms and rebar for the footings are taking shape at the north end. Concrete poured by tomorrow maybe?

AuxTown
Jan 24, 2008, 9:49 PM
For those that are interested, the project is now officially behind schedule (surprise!). They are 3 months behind, which means the first residents will be moving in March, 2009. That likely means that the majority of the structure will be finished by the next New Years and who knows when the ground-level retail will open.

Danman
Jan 26, 2008, 4:41 PM
http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507006.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507005.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507004.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507003.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507002.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507001.jpg

http://i146.photobucket.com/albums/r247/retrodan_01/mondrianjan2507007.jpg

photos : Danman

harls
Jan 28, 2008, 7:24 PM
Concrete is being poured today. They've put up metal gratings on the peek-holes now, so it's harder to get a good pic. Oh well.

The end of the crane looks like it comes inches from the Standard Life centre across the street when it swings around!

harls
Jan 28, 2008, 7:50 PM
http://farm3.static.flickr.com/2132/2226828918_1f4b1b05b3_b.jpg

AuxTown
Jan 28, 2008, 11:54 PM
I can't wait for that green and grey monstrosity in the centre of the photo is lost from view!

harls
Jan 29, 2008, 9:32 PM
Is the crane going to be jacked up later? I thought the finished building was supposed to be as high as the Standard Life place across the street.