The Galleria II | 42.5 m | 14 fl | Completed

[ajldub]

I'd like to see more projects on Dalhousie, personally. There is a street that could be really cool in a couple of years' time.

[Ottawan]

Originally Posted by ajldub

I'd like to see more projects on Dalhousie, personally. There is a street that could be really cool in a couple of years' time.

I agree wholeheartedly. There are a number of surface lots there that really should be redevelopped. Although, I would like to make it clear that as much as I usually like height, nothing on Dalhousie is currently more than 4 floors, and for heritage reasons, I believe that 4 to at the most 6 floors is the appropriate level of intensification for that street (with the taller towers to continue to be put on Cumberland).

[ajldub]

Dalhousie area has seen some nice low-rise infill in the last couple of years. The Montmartre development is one of the better projects in Lowertown.

[blackjagger]

Zoning Application is up.

http://app01.ottawa.ca/postingplans/...appId=__7Y1EA3

Cheers,
Josh

[Skipper]

hi there

anyone knows how many units are sold so far in this project and how many units in total?

It is my understanding that they would demolish the buildings on the site next month. If so, I bet they will start construction soon?

[waterloowarrior]

Staff Report for rezoning
http://ottawa.ca/calendar/ottawa/cit...20Besserer.htm

Recommended for approval

[blackjagger]

What I like best about this application, beyond just good urban form, is how much commercial space is available. It is really evident in the site plan above, 5000SF of commercial will allow for (hopefully) many small shops.

Cheers,

[RTWAP]

Originally Posted by blackjagger

What I like best about this application, beyond just good urban form, is how much commercial space is available. It is really evident in the site plan above, 5000SF of commercial will allow for (hopefully) many small shops.

Cheers,

Yup. Nice addition to the core.

[blackjagger]

Looks like Richcraft has contracted out the entire build and construction management. I assume this will allow them to move forward on other projects faster. Broccolini is going to be quite busy in the Ottawa area.

Estimated started date September 2010 with Occupancies starting August 2012.

http://www.broccolini.com/Broccolini...=No&Current=No

Cheers,
Josh

[gjhall]

Hopefully this means they can get the 255 Bay project started. I live near there and even after demolition the land is an eyesore.

[waterloowarrior]

Site plan application approved. get er done.

[Kitchissippi]

I bet the King Edward corner unit is going to be a coffee shop. It would be a great spot for one, across from the Little Theatre, and put some life into the street

[Proof Sheet]

Originally Posted by blackjagger

What I like best about this application, beyond just good urban form, is how much commercial space is available. It is really evident in the site plan above, 5000SF of commercial will allow for (hopefully) many small shops.

Cheers,

Is 5000 ft2 suitable for a small Shoppers we all know that Ottawa is crying out for more Shoppers Drug Marts

[citizen j]

^ probably not a full SDM, but they might want to take advantage of the site to launch a sort of Shoppers-meets-Starbucks coffee/pharmacy boutique. Latte and antibiotics one-stop-shopping.

[Mille Sabords]

Demolition is complete and excavation is beginning on the Phase II site. Quite a unique view of the church from Rideau! A new sales trailer is being prepped next to Don Cherry's.

[Davis137]

Wow cool...too bad I can't see it from my office. I guess once it's above grade I might be able to...

[waterloowarrior]

updated website
http://richcraft.com/galleria2/index2.html

twitter http://twitter.com/G2Condos

[minichi]

Hey everyone,
I'm looking at an investment piece at G2, CPIII, Central 2, and 129 Main.
1. Just wondering what is going to be built to the west of G2 (where the parking lot is)? Is that going to be the future site of CP3 & 4...?
2. How much are condo fees now at the G1? The posted $0.36/sqft condo fees for G2 includes heat, a/c, etc. Is this correct?
3. How much of G2 is sold?
Thanks everyone.

[c_speed3108]

Originally Posted by minichi

Hey everyone,
I'm looking at an investment piece at G2, CPIII, Central 2, and 129 Main.
1. Just wondering what is going to be built to the west of G2 (where the parking lot is)? Is that going to be the future site of CP3 & 4...?
2. How much are condo fees now at the G1? The posted $0.36/sqft condo fees for G2 includes heat, a/c, etc. Is this correct?
3. How much of G2 is sold?
Thanks everyone.

I am not sure the fees on these, although you could probably get a good idea from an MLS listing.

One thing to note about condo fees in new buildings or buildings less than about 2 or 3 years is old is to generally give yourself about a 50% buffer on the condo fees. They tend to be underestimated by developers (although not always). Developers have to cover any shortfalls for the first year, but afterwards the owners are on their own so fees can take some big jumps. Make sure your happy with the math at the high price. If they don't go up that much then it is money in the bank. If they do, well at least your ready. Generally after about 3 years the fee stabilize.

If you are looking for an investment place only I would considering grabbing a unit in CP4, as the project is in it's really early stages and therefore the price is cheapest. You would probably make a pretty decent gain in value just over the build time, prior to making a dime in rent. Plus that was the mortgage will be less giving you a better return rent-to-cost wise.

[ServiceGuy]

The site has been cleared, cleaned up, and they just started driving posts today. Interestingly, the sales center Richcraft is building in the parking lot across the street seems to be 80% complete but nothing much is going on to finish it.