General Update/Rumour thread

[J.OT13]

fail

epic fail

total epic fail

http://westsideaction.wordpress.com/...-installation/

[S-Man]

Is this the new "Safe Sex District"?

[O-Town Hockey]

Can anyone say dildo?
(I know you were all thinking it)

[S-Man]

Speaking of phallic objects near downtown, the ender for the proposed Parkdale building has me worried about the quality of life of parked cars in the nearby parking lot. A parking lot that is empty every night and weekend (and holiday, obviously):

http://www.ottawacitizen.com/busines...177/story.html

There are only a few sites along this stretch of parkdale that can accomodate new development, so why wouldn't you want the high density to be fronting on the Tunney's office campus? More of a chance for developers to leave your residential street deeper in the community alone? Or is that wishful thinking?

The article does mention coming changes to the Bayview area to coincide with LRT construction. What became of this meeting the article mentions? Did anyone go?

[McC]

I was there, I'll post something to the thread about it eventually. But in the meantime, please remember that on one side it's empty parking lots, on the other side it's a neighborhood, and the tower that fronts onto Parkdale also backs onto townhouses and single family homes.

[S-Man]

The previous one didn't (99 Parkdale, sandwiched by mid-rises), so I probably assumed similar circumstances on this site.

[Marcus CLS]

I am not sure where to place this comment but decided to choose this thread. I am pro intensification but based on the concrete number of approvals, OMB appeals, applications to commitee of adjustments, etc.. and the state of the Ottawa economy I am trying to figure out where are all the potential buyers of the condos going to come from. Apparently this last months job statistics are net job loss. Based on the present known projects it is going to take 5 to 10 years to bring these to market and have them all completely built. Lebretton Flats phase 1 must have taken 5 years. I will admit phase 2 came quicker. I think the developers need to take a step back for now and let the market absorb the present projects. Unlike T.O. Ottawa is slow and steady. Some of these projects will not get built before I am 60.

Canderal finally applied for site plan approval (with Minto) for a tower that was approved well over 5 years ago.

I just do not see the present economy moving all this stuff quickly forward.

[Nepean]

Originally Posted by Marcus CLS

I am pro intensification but based on the concrete number of approvals, OMB appeals, applications to commitee of adjustments, etc.. and the state of the Ottawa economy I am trying to figure out where are all the potential buyers of the condos going to come from.

You raise a question that I have also been thinking about. In November of last year, the Ottawa Business Journal published a story which said that an estimated 20 per cent of the city's highrise condos are being purchased by investors who plan to rent them out. The story went on to say that these investors may have difficulty finding renters in two to three years time when the current batch of condos are built.

For what it's worth, in my condo complex in Nepean, the property manager told me that over 50 per cent of the units were being rented out.

With that in mind, I have not seen any definitive information on who is set to buy future condos in Ottawa. For sure, some buyers are like me and my wife who are young professionals and first-time home buyers. I also recently read a story about how women are increasingly buying real estate. That being said, giving the relatively gloomy economic forecast for the future, I have also wondered who will buy the condos of the future.

[kevinbottawa]

Originally Posted by Marcus CLS

I am trying to figure out where are all the potential buyers of the condos going to come from.

We keep hearing that young professionals and downsizing babyboomers/emptynesters are buying the condos. Perhaps as more babyboomers retire they'll buy them up.

[Nepean]

Originally Posted by kevinbottawa

We keep hearing that young professionals and downsizing babyboomers/emptynesters are buying the condos. Perhaps as more babyboomers retire they'll buy them up.

But that raises the question: Who will buy the large suburban homes of the babyboomers?

I recently talked with some friends about how the definition of success was changing. Twenty or 30 years ago, success meant buying a large suburban home, with a double-garage and all the fixings. Today, success is starting to be defined by many people as having a modest home in an urban setting, where you can walk to all the shops that you need, with easy access to good transit and, ideally, bike lanes.

My wife and I, even though me have a baby daughter, have discussed moving downtown. (Our condo, which is relatively small for the suburbs, should be easier to sell than our bigger neighbours). The search for a modest downtown home made me wonder who will move into the suburbs, and what happens if all the downsizing babyboomers can't sell their homes. I don't think this will happen but it is an interesting thought experiment.

[Jamaican-Phoenix]

I'm considering buying a small condo in a few years either here or in Montreal. I'm an urbanite, and I don't have a lot of stuff and I don't need a lot of space. A condo makes sense for someone like me who's trying to get established in life and is not ready to settle down yet.

[waterloowarrior]

An interesting tidbit from this article

Dealing with development pressure in Mechanicsville
by David Reevely, The Ottawa Citizen August 11, 2012

Read more: http://www.ottawacitizen.com/Dealing...#ixzz23M0egua6

To the west, the federal government is deciding what to do with Tunney’s Pasture; Hobbs has a briefing due from federal public-works officials in the next few weeks. She doesn’t know what they’re going to tell her but rumour is the plans include condos on the west side of Parkdale and more office space inside the complex.

[Postmaster]

Originally Posted by Nepean

But that raises the question: Who will buy the large suburban homes of the babyboomers?

I recently talked with some friends about how the definition of success was changing. Twenty or 30 years ago, success meant buying a large suburban home, with a double-garage and all the fixings. Today, success is starting to be defined by many people as having a modest home in an urban setting, where you can walk to all the shops that you need, with easy access to good transit and, ideally, bike lanes.

My wife and I, even though me have a baby daughter, have discussed moving downtown. (Our condo, which is relatively small for the suburbs, should be easier to sell than our bigger neighbours). The search for a modest downtown home made me wonder who will move into the suburbs, and what happens if all the downsizing babyboomers can't sell their homes. I don't think this will happen but it is an interesting thought experiment.

They will have to take less for their homes. This should help drive down house prices a bit. I know my parents are planning to move into a smaller home albeit not away from the suburbs. These big houses are just too much space when there aren't kids there.

[umbria27]

Originally Posted by Nepean

But that raises the question: Who will buy the large suburban homes of the babyboomers?

I recently talked with some friends about how the definition of success was changing. Twenty or 30 years ago, success meant buying a large suburban home, with a double-garage and all the fixings. Today, success is starting to be defined by many people as having a modest home in an urban setting, where you can walk to all the shops that you need, with easy access to good transit and, ideally, bike lanes.

My wife and I, even though me have a baby daughter, have discussed moving downtown. (Our condo, which is relatively small for the suburbs, should be easier to sell than our bigger neighbours). The search for a modest downtown home made me wonder who will move into the suburbs, and what happens if all the downsizing babyboomers can't sell their homes. I don't think this will happen but it is an interesting thought experiment.

Though I wish they were, I think the perspectives of your friends may not be typical. They seem typical because you hang out with like minded people, but it seems that lots of people are still buying into the suburban dream. I live most of my life east of Woodroofe and west of Saint Laurent, so I'm shocked when I drive out of the city and see how the suburbs have spread.

I worry that we're not building enough variety downtown. There are plenty of one bedroom condos, but as you are probably finding, those modest family homes are difficult to come by. A three bedroom apartment is even more rare.

For what it's worth, I would encourage you to move downtown with your children. As kids get older and they are involved in more and more activities, suburban parents end up spending all their time in a car. My kids have walked and biked to school, sports, social activities and now part-time jobs for ten years now. That's a lot of traffic I've avoided.

[Acajack]

I don't think the suburban lifestyle is going to "die out" any time soon, or that that housing market is going to suffer a serious decline. At least in Ottawa, most single family detached homes even in car-dependent places like Orleans, Kanata and Barrhaven are serviceable via reasonably decent transit (I am thinking of potentially skyrocketing gas prices here.) So a lot of people are still going to be in the market for these types of houses.

Walkability is a growing in perceived value but it is not important to everyone. And it depends what you have to trade off for it.

The logic for someone goes like this:
OK, I want a walkable neighbourhood ideally, but I also want a backyard for a pool for the kids... The burbs aren't necessarily walkable but on the other hand I can still take transit from work so that offsets the high price of gas... Plus I can have that backyard pool. And so on and so on.

If anything, we will probably end up with a more balanced housing market. For much of the post-WW2 era, inner city housing (especially the denser forms) didn't get much love from the middle class in particular.

As I said, we are simply moving to a more balanced situation, but I don't think the suburban singles will see a large-scale abandonment like some urban districts did, simply because they are still perceived as being very attractive by many, many people. Like it or not.

[McC]

very large suburban homes (with lots of bedrooms, bathrooms and parking) will also remain highly desirable for multi-generational families. Ottawa hasn't been a primary destination for first and second generation families from the parts (e.g., of South Asia and Latin America) where these are more common, but that could change, or the practice could become more widespread across demographics -- it's really just a short step from boomeranging back to Mom and Dad's temporarily or setting up a granny suite in the basement or attic.

[S-Man]

Funny you should mention that, McC, because I was about to add that the multi-generational thing is growing and is quite prominent in some parts of the suburbs, but especially south Barrhaven. There you will find a large number of new Asian families "living the dream" of single-detached new home ownership.

Many people I've come across have commented on it in one way or another. Chapman Mills and Barrhaven South (Half Moon Bay) is where the building is occurring and that's where you'll find many Asian families - kids and elderly included - buying into the neighbourhood.

[J.OT13]

Bit of a shake up for downtown office space.

WEP loses tenants and 150 Elgin secures another 37,500 sqft.

http://www.obj.ca/Opinion/2012-08-13...goes-on-sale/1

[McC]

Thanks for the link. That first paragraph suggests that we won't likely see any action on the Place de Ville III or Standard Life III sites any time soon... unless they switch models from office to rez like Broccolini is doing on Slater.

[J.OT13]

Originally Posted by McC

Thanks for the link. That first paragraph suggests that we won't likely see any action on the Place de Ville III or Standard Life III sites any time soon... unless they switch models from office to rez like Broccolini is doing on Slater.

That’s too bad. I was hoping Place de Ville's podium building redevelopment was going to occur before the completion of the rail tunnel since it included improved connections (and likely complete overhaul) of the complexe's underground concourse. Seems building it after the opening of the subway would create a lot of disturbance around the north entry point.

Here is a link to the application and design brief. Note the link between tower C and the new tower D. They will build new escalators to replace the narrow and dingy random entrances around phase II (see north west and north east corner of tower C as well as the centre west elevation of the Podium to witness the outdated old portals);.


http://app01.ottawa.ca/postingplans/...appId=__7TBR2F

http://webcast.ottawa.ca/plan/All_Im...12-09-0212.PDF