[Halifax] Q Lofts | ? m | 6 fl | Complete

[someone123]

Originally Posted by Colin May

I can post DTT revenue for the period 98/99 to 12/12; should I put it on ' Halifax Developments' section or ' General Updates ' ?

This belongs in "Business, Politics & the Economy", outside of the development sections. The development sections are mostly for project-specific threads (although it's fine for discussion to wander off topic somewhat).

I think we've seen a strange period in Halifax real estate. The shipbuilding contract announcement created some speculative activity in 2012, but the local economy hasn't actually been that strong. The relative change has been strongly negative because economic growth was slowing *and* the speculative buying was dying down. The NS economy was almost in recession in 2012-2013.

I think this will change a bit since the NS economy and employment are expected to pick up noticeably in 2014-2015.

[Colin May]

Originally Posted by someone123

This belongs in "Business, Politics & the Economy", outside of the development sections. The development sections are mostly for project-specific threads (although it's fine for discussion to wander off topic somewhat).

I think we've seen a strange period in Halifax real estate. The shipbuilding contract announcement created some speculative activity in 2012, but the local economy hasn't actually been that strong. The relative change has been strongly negative because economic growth was slowing *and* the speculative buying was dying down. The NS economy was almost in recession in 2012-2013.

I think this will change a bit since the NS economy and employment are expected to pick up noticeably in 2014-2015.

I posted the data in 'General Updates'
Real estate sales were down by $400,000,000 in 2013/14 if HRM staff projections are accurate.

[ILoveHalifax]

Having looked at the floor plans for the Q lofts, I would never buy a condo with only 1 bathroom. I think that is a real design flaw.

[ILoveHalifax]

My apologies, I looked at some floor plans way back and did not see 2 baths. However I just saw floor plans with 2 baths.

[Duff]

One from yesterday.

[Keith P.]

I am seeing advertising for this development, either on TV or online, can't quite remember where, showing a yuppie couple pouring glasses of wine and sitting down to enjoy their urban oasis, prices from $299,000. I also note this is a venue in the Doors Open thing happening this weekend. They must really be stalled sales-wise.

[Duff]

Not much has changed here. One from today.

[Keith P.]

Perhaps The Five Moes have been assigned to this project given the slow sales.

[HalifaxRetales]

Harris East came in $100k cheaper, even Southport is better option

[mcmcclassic]

I toured the model unit. They're beautiful, but I still have a hard time thinking about shelling out $300k for a unit that is still surrounded by bodyshops and run down buildings.

I guess areas don't change until people move in, but like others have said the area has other projects being offered at cheaper rates. QLofts will eventually fill I reckon though.

[Drybrain]

Originally Posted by mcmcclassic

I toured the model unit. They're beautiful, but I still have a hard time thinking about shelling out $300k for a unit that is still surrounded by bodyshops and run down buildings.

I guess areas don't change until people move in, but like others have said the area has other projects being offered at cheaper rates. QLofts will eventually fill I reckon though.

Yeah, but if you wait until the body shops are bulldozed and run-down houses reno'd, you'll end up paying a lot more than 300k. I went through the under-construction building at Doors Open and it was just the frame really, but it looked more solid than your standard plywood midrise. (I don't really know anything about construction materials/techniques though, so take that with a bucket of salt—just looked good.)

Harris is cheaper, but I feel like the 199k units are almost just a publicity stunt.

[mcmcclassic]

Originally Posted by Drybrain

Yeah, but if you wait until the body shops are bulldozed and run-down houses reno'd, you'll end up paying a lot more than 300k. I went through the under-construction building at Doors Open and it was just the frame really, but it looked more solid than your standard plywood midrise. (I don't really know anything about construction materials/techniques though, so take that with a bucket of salt—just looked good.)

Harris is cheaper, but I feel like the 199k units are almost just a publicity stunt.

Agreed. That's why I have been on the fence... Guaranteed those 199k units will have cheaper materials (ex. laminate countertops vs. granite, 7mm laminite vs. tile or 12mm laminate, etc.)

The north end will most certainly be a different world in the next 10 years at any rate.

[macgregor]

Originally Posted by Drybrain

Yeah, but if you wait until the body shops are bulldozed and run-down houses reno'd, you'll end up paying a lot more than 300k. I went through the under-construction building at Doors Open and it was just the frame really, but it looked more solid than your standard plywood midrise. (I don't really know anything about construction materials/techniques though, so take that with a bucket of salt—just looked good.)

Harris is cheaper, but I feel like the 199k units are almost just a publicity stunt.

Polycorp usually builds with insulated concrete (ICF) - nice and solid and should result in low heating costs.

[curnhalio]

I'm very curious to see how quickly they sell. I'm in the slow process of turning my 1 1/3 story house into a partial loft based on how many loft-style buildings are being built, with an eye toward resale value, and the quirkiness of such a thing. Yes, get in there now, if they think they can get 300k with all the chop shops in the area, any new construction that replaces them will fetch closer to 500k.

[Drybrain]

Originally Posted by curnhalio

I'm very curious to see how quickly they sell. I'm in the slow process of turning my 1 1/3 story house into a partial loft based on how many loft-style buildings are being built, with an eye toward resale value, and the quirkiness of such a thing. Yes, get in there now, if they think they can get 300k with all the chop shops in the area, any new construction that replaces them will fetch closer to 500k.

Surrounded by chop shops, yeah, but only two blocks north and south are some pretty gorgeous residential streetscapes, and it's one block from the best stretch of the rapidly revitalizing Agricola. The immediate surroundings are ugly, but I'm not sure they'd be much deterrent for people who know the neighbourhood.

[curnhalio]

Originally Posted by Drybrain

Surrounded by chop shops, yeah, but only two blocks north and south are some pretty gorgeous residential streetscapes, and it's one block from the best stretch of the rapidly revitalizing Agricola. The immediate surroundings are ugly, but I'm not sure they'd be much deterrent for people who know the neighbourhood.

I suppose if I had the money, and hadn't already bought, I would give it some thought. It really is an up and coming area and you have all the amenities nearby. Transit, parks, lots of shops (even the Hydrostone Market area is within 20 minute walk). A 20 minute walking radius would take you an awful lot of places, even SGR. This is probably the time to get in if you want to live there. As I said, with each new development (whether or not it's on a current chop shop site) the area will get nicer and nicer and correspondingly more and more expensive. Which is unfortunate, because this is an area that should have an "affordable housing" element. If it's true that you can build taller if you make provisions for affordable units, then the Agricola area is THE place for this to happen. It takes people of all economic levels to make a neighbourhood work.

[Dmajackson]

Exterior has started to be installed;


Photo by Dmajackson. Hosted via Urban_Halifax on flickr.com

[Dmajackson]

Source: Halifax Developments Blog

[Duff]

Very slow on the exterior work...One from yesterday

[Keith P.]

Slowness is not a surprise on this one. Combination of very slow sales and the Five Moes on the job.