rocketphish
03-22-2009, 05:00 AM
It looks like Domicile is delaying the Second Avenue West development (804-824 Bronson):
http://www.ottawacitizen.com/Lessons+down+sizing/1412429/story.html
Lessons in down-sizing
Domicile redesigns sexy penthouse, waits on market to launch ambitious Glebe project
By Sheila Brady, The Ottawa Citizen, March 21, 2009
David Chick is a prudent fellow, a veteran real estate lawyer turned developer who is looking for signs the economy is warming up before launching an ambitious four-storey condo in the Glebe. He's hoping the brick condo project, Second Avenue West, will be introduced in May. There are more than 400 names on a priority list, waiting to see the plans and price tags.
"It's a new reality," says Chick, who left the prestigious legal firm of Nelligan O'Brien Payne to sign on as senior vice-president at Domicile three years ago.
"It was the biggest decision in my life and it's a real challenge," says Chick, who worked with Domicile president John Doran for many years before taking over as the firm's exec in charge of negotiating land purchases, financing, design and marketing. "I love it, but it's a bit scary now."
Chick joined Domicile, shortly before the company launched G, an upscale glass and brick condo on Bank Street beside Central Park.
The economy was healthy in March 2007, and Domicile thought it had a golden site for young professionals and boomers who wanted condo living in the heart of the Glebe.
Turns out G's smaller condos sold well, many to young professionals, but the larger two-storey condos costing between $700,000 and $1 million couldn't find buyers. "We thought the market would eat up a building in the exclusive Glebe," says Chick. "There were no nibbles."
So Domicile shifted gears and redesigned the top floor. Now there are four condos left in the glass and brick building, including a slick two-bedroom penthouse model that opened earlier this month.
To decorate the model, Doran called on his old buddy Alan Gratias, who with his partner Joanie Hilborn had combined bright colours, old pine and Philippe Stark's Ghost chair in Domicile's model townhomes at Merrion Square on Breezehill Avenue last spring.
The Ghost chair and pine furniture are now part of a new urban story overlooking Bank Street. Gratias and Hilborn added a leather sectional sofa, a glass dining room table, lots of good art for the walls that stretch up 12 feet, and sophisticated blinds that soften light streaming through the large windows.
The pair, who own an art gallery and farm overlooking Lake Ontario, wanted to create an Ottawa version of a New York City artist's loft. There are funky sculptures and, if you look closely, photographs of Gratias, Hilborn and their beloved dog Roger.
The master bedroom is a sophisticated affair, combining a dark brown bed from Phillip van Leeuwen and art of young girl and a bluebird, while the second bedroom is set up as a getaway for a teenager, but could just as easily be a home office. There is a flat-screen television over the fireplace and a galley kitchen set on an angle. The penthouse also has access to a deck overlooking Bank Street and Central Park to the west.
The 1,175-square-foot model penthouse is priced at $537,000, says Chick, adding they will sell it if there is a buyer.
"In this market, we will set up another model in the building." There are two other penthouse condos priced at $582,200 and $638,400 and a smaller, two-bedroom condo on the second floor for $466,300.
Domicile is one of the city's leading boutique condo builders, introducing a pair of traditional red brick condos on Cooper Street in the late 1990s, then getting edgy by turning an old government building on Argyle Avenue into funky, industrial condos in 2000. The company moved into Westboro with upscale industrial brick buildings and spread out to townhomes and condos near Dow's Lake and Overbrook.
Domicile is now finalizing plans and pricing for Second Avenue West, its four-storey brick condo that will sit on the west side of Bronson Avenue, directly across from Second Avenue.
"It is a new reality," repeats Chick, who has learned pricing and design lessons since G was introduced. The economy has changed dramatically in the past several months and he is crunching numbers, trying to keep prices down as much as possible.
It's also key to keep a lid on condo fees, but the building will have a board room, a detailed lobby and a fitness room. "We want to concentrate on a good building envelope and offer designs that will stand the test of time," says Chick.
Ottawa architect Rod Lahey designed the 70-unit building, which has a central core that steps back from Bronson. The condos will be smaller than those on Bank Street, likely averaging 850 square feet, with an even split between one- and two-bedrooms.
"The economy over the last few months has affected our business, and we feel that people are going to accept slightly smaller living spaces to keep track of rising costs. They also want to be smart about being green," says Chick, noting that right now boomers are holding back on trading in their houses for condos. "They are not feeling as urgent a need to do this. The economy has hurt their pensions and they have also been hit in expectations of their home's value and ability to sell."
In addition to watching the economy, Chick is waiting for warmer weather and the spring market when the majority of people thinking about moving take the next step and buy.
"We have all the approvals and we are aware this is the only condo likely on the horizon in the area," says Chick. "We feel confident we will be launching in May, and the market will be there for this site."
Sheila Brady is the Citizen's Homes Editor. You can reach her at sbrady@thecitizen.canwest.com.
and here's a small sketch that accompanied the article:
http://farm4.static.flickr.com/3639/3664581631_318d72a59a_o_d.jpg
http://www.ottawacitizen.com/Lessons+down+sizing/1412429/story.html
Lessons in down-sizing
Domicile redesigns sexy penthouse, waits on market to launch ambitious Glebe project
By Sheila Brady, The Ottawa Citizen, March 21, 2009
David Chick is a prudent fellow, a veteran real estate lawyer turned developer who is looking for signs the economy is warming up before launching an ambitious four-storey condo in the Glebe. He's hoping the brick condo project, Second Avenue West, will be introduced in May. There are more than 400 names on a priority list, waiting to see the plans and price tags.
"It's a new reality," says Chick, who left the prestigious legal firm of Nelligan O'Brien Payne to sign on as senior vice-president at Domicile three years ago.
"It was the biggest decision in my life and it's a real challenge," says Chick, who worked with Domicile president John Doran for many years before taking over as the firm's exec in charge of negotiating land purchases, financing, design and marketing. "I love it, but it's a bit scary now."
Chick joined Domicile, shortly before the company launched G, an upscale glass and brick condo on Bank Street beside Central Park.
The economy was healthy in March 2007, and Domicile thought it had a golden site for young professionals and boomers who wanted condo living in the heart of the Glebe.
Turns out G's smaller condos sold well, many to young professionals, but the larger two-storey condos costing between $700,000 and $1 million couldn't find buyers. "We thought the market would eat up a building in the exclusive Glebe," says Chick. "There were no nibbles."
So Domicile shifted gears and redesigned the top floor. Now there are four condos left in the glass and brick building, including a slick two-bedroom penthouse model that opened earlier this month.
To decorate the model, Doran called on his old buddy Alan Gratias, who with his partner Joanie Hilborn had combined bright colours, old pine and Philippe Stark's Ghost chair in Domicile's model townhomes at Merrion Square on Breezehill Avenue last spring.
The Ghost chair and pine furniture are now part of a new urban story overlooking Bank Street. Gratias and Hilborn added a leather sectional sofa, a glass dining room table, lots of good art for the walls that stretch up 12 feet, and sophisticated blinds that soften light streaming through the large windows.
The pair, who own an art gallery and farm overlooking Lake Ontario, wanted to create an Ottawa version of a New York City artist's loft. There are funky sculptures and, if you look closely, photographs of Gratias, Hilborn and their beloved dog Roger.
The master bedroom is a sophisticated affair, combining a dark brown bed from Phillip van Leeuwen and art of young girl and a bluebird, while the second bedroom is set up as a getaway for a teenager, but could just as easily be a home office. There is a flat-screen television over the fireplace and a galley kitchen set on an angle. The penthouse also has access to a deck overlooking Bank Street and Central Park to the west.
The 1,175-square-foot model penthouse is priced at $537,000, says Chick, adding they will sell it if there is a buyer.
"In this market, we will set up another model in the building." There are two other penthouse condos priced at $582,200 and $638,400 and a smaller, two-bedroom condo on the second floor for $466,300.
Domicile is one of the city's leading boutique condo builders, introducing a pair of traditional red brick condos on Cooper Street in the late 1990s, then getting edgy by turning an old government building on Argyle Avenue into funky, industrial condos in 2000. The company moved into Westboro with upscale industrial brick buildings and spread out to townhomes and condos near Dow's Lake and Overbrook.
Domicile is now finalizing plans and pricing for Second Avenue West, its four-storey brick condo that will sit on the west side of Bronson Avenue, directly across from Second Avenue.
"It is a new reality," repeats Chick, who has learned pricing and design lessons since G was introduced. The economy has changed dramatically in the past several months and he is crunching numbers, trying to keep prices down as much as possible.
It's also key to keep a lid on condo fees, but the building will have a board room, a detailed lobby and a fitness room. "We want to concentrate on a good building envelope and offer designs that will stand the test of time," says Chick.
Ottawa architect Rod Lahey designed the 70-unit building, which has a central core that steps back from Bronson. The condos will be smaller than those on Bank Street, likely averaging 850 square feet, with an even split between one- and two-bedrooms.
"The economy over the last few months has affected our business, and we feel that people are going to accept slightly smaller living spaces to keep track of rising costs. They also want to be smart about being green," says Chick, noting that right now boomers are holding back on trading in their houses for condos. "They are not feeling as urgent a need to do this. The economy has hurt their pensions and they have also been hit in expectations of their home's value and ability to sell."
In addition to watching the economy, Chick is waiting for warmer weather and the spring market when the majority of people thinking about moving take the next step and buy.
"We have all the approvals and we are aware this is the only condo likely on the horizon in the area," says Chick. "We feel confident we will be launching in May, and the market will be there for this site."
Sheila Brady is the Citizen's Homes Editor. You can reach her at sbrady@thecitizen.canwest.com.
and here's a small sketch that accompanied the article:
http://farm4.static.flickr.com/3639/3664581631_318d72a59a_o_d.jpg
