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  #181  
Old Posted Oct 18, 2018, 2:42 AM
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silvergate silvergate is offline
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Quote:
Originally Posted by JHikka View Post
Depending on what you consider Centretown....there's roughly 35K people living in Somerset Ward (Parliament to 417, Canal to Trillium Line).

I'm going to assume median incomes in Kanata/Orleans are higher than Centretown which would be higher potential for grocery stores. Could be wrong.
Pretty sure everyone goes to grocery stores, regardless of income?
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  #182  
Old Posted Oct 18, 2018, 11:16 PM
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Originally Posted by silvergate View Post
Pretty sure everyone goes to grocery stores, regardless of income?
Obviously the number of people in an area is going to be important but more disposable income increases ability to buy more things in general. Higher median incomes also mean they're more likely to travel and move around via car, which makes things like getting groceries easier.

The following is from StatCan:

Quote:
Originally Posted by StatCan
With very few exceptions, across all types of food purchased from stores, and all provinces and territories, consumers are paying more than they did in the past. In fact, in May 2017 they were paying about 41% more than in 2002. At the same time, the All-items CPI increased 30%, so during those 15 years, food prices climbed noticeably faster.
https://www.statcan.gc.ca/eng/blog/cs/measure-change

I'm going to assume people in lower income homes buy fewer groceries, therefore generally making more stores in a lower income neighbourhood less feasible.

Last edited by JHikka; Oct 18, 2018 at 11:27 PM.
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  #183  
Old Posted Oct 19, 2018, 12:54 AM
Marshsparrow Marshsparrow is offline
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Can I just get a Shoppers Drug Mart with groceries - Westgate renos seems to be forever - problem eventually solved!
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  #184  
Old Posted Oct 19, 2018, 1:13 AM
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On another note I checked the rental listings and these guys are commanding really high rents... way higher than the neighbouring Adelaide ... and from what I could gather there aren't any additional inclusions or meaningful amenities. Newness aside the two properties appear to be on par with each other in terms of "luxury". This building has way more interesting floor plans though.
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  #185  
Old Posted Oct 19, 2018, 2:36 AM
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silvergate silvergate is offline
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Quote:
Originally Posted by JHikka View Post
Obviously the number of people in an area is going to be important but more disposable income increases ability to buy more things in general. Higher median incomes also mean they're more likely to travel and move around via car, which makes things like getting groceries easier.

The following is from StatCan:


https://www.statcan.gc.ca/eng/blog/cs/measure-change

I'm going to assume people in lower income homes buy fewer groceries, therefore generally making more stores in a lower income neighbourhood less feasible.
Guess that would explain the massive amount of grocery stores in Westboro area.
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  #186  
Old Posted Oct 30, 2018, 4:27 PM
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I had an appointment with a rental agent at Nuovo and she told me the estimated time of completion for units of floors 1 to 10 is February 1st. That's the earliest tenants can move in. She didn't give any dates for floors 11 to 20, but said the rooftop terrace would be ready for next summer and the amenities (fitness centre, tenants lockers, social room, bicycle storage, etc.) would be ready in February as well.

Last edited by O-Kid613; Oct 30, 2018 at 4:40 PM.
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  #187  
Old Posted Oct 30, 2018, 4:45 PM
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Originally Posted by O-Kid613 View Post
I had an appointment with a rental agent at Nuovo and she told me the estimated time of completion for units of floors 1 to 10 is February 1st. That's the earliest tenants can move in. She didn't give any dates for floors 11 to 20, but said the rooftop terrace would be ready for next summer and the amenities (fitness centre, tenants lockers, social room, bicycle storage, etc.) would be ready in February as well.
Thanks for the update, and welcome to the forum!
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  #188  
Old Posted Oct 30, 2018, 4:56 PM
SkeggsEggs SkeggsEggs is offline
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Quote:
Originally Posted by O-Kid613 View Post
I had an appointment with a rental agent at Nuovo and she told me the estimated time of completion for units of floors 1 to 10 is February 1st. That's the earliest tenants can move in. She didn't give any dates for floors 11 to 20, but said the rooftop terrace would be ready for next summer and the amenities (fitness centre, tenants lockers, social room, bicycle storage, etc.) would be ready in February as well.
What are some of the prices looking like?
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  #189  
Old Posted Oct 30, 2018, 5:06 PM
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What are some of the prices looking like?
They've got the listings up on the website now: https://www.realstar.ca/apartments/o...ovo/index.aspx
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  #190  
Old Posted Oct 30, 2018, 5:31 PM
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Those are some astronomical prices. I would never rent for anything even close to that.
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  #191  
Old Posted Oct 30, 2018, 7:37 PM
OTSkyline OTSkyline is offline
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You can tell from the website that they are targeting baby boomers.

But still... the rents are more expensive then my mortgage, condo fees and property taxes combined LOL.
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  #192  
Old Posted Oct 31, 2018, 12:41 PM
H>T&T>P H>T&T>P is offline
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Originally Posted by OTSkyline View Post
You can tell from the website that they are targeting baby boomers.

But still... the rents are more expensive then my mortgage, condo fees and property taxes combined LOL.
That is pretty normal as that is how landlords make money!
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  #193  
Old Posted Oct 31, 2018, 1:34 PM
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Originally Posted by H>T&T>P View Post
That is pretty normal as that is how landlords make money!
Quick look at what's for rent in new condo buildings within the urban area shows pretty similar pricing ($2.35/ft and up). Definitely more expensive than renting in a 1970s apartment block, but that's to be expected.
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  #194  
Old Posted Oct 31, 2018, 1:38 PM
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Originally Posted by dougvdh View Post
Quick look at what's for rent in new condo buildings within the urban area shows pretty similar pricing ($2.35/ft and up). Definitely more expensive than renting in a 1970s apartment block, but that's to be expected.
Given the number of higher-end rentals that have come on stream recently, there must be a good market for them.
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  #195  
Old Posted Oct 31, 2018, 1:47 PM
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And this is why private rental construction cannot be a solution to the housing affordability crisis. No newly built rentals are ever affordable. The bulk of renters are stuck renting from older affordable towers that are not being built anymore and the supply of them will just keep going down as they age.
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  #196  
Old Posted Oct 31, 2018, 2:25 PM
danishh danishh is offline
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And this is why private rental construction cannot be a solution to the housing affordability crisis. No newly built rentals are ever affordable. The bulk of renters are stuck renting from older affordable towers that are not being built anymore and the supply of them will just keep going down as they age.
And some of those older towers are being redeveloped into luxury rentals too (like the Liv building)
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  #197  
Old Posted Oct 31, 2018, 5:50 PM
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Originally Posted by danishh View Post
And some of those older towers are being redeveloped into luxury rentals too (like the Liv building)
The new 'luxury' rentals will also age down the market. However, probably the biggest challenge for the rental market and the distribution of rents is that there is a massive gap in the construction of rentals between the mid 1970s and now. Many of the older buildings are reaching a point in life where they either will need an expensive up grade or they will just be replaced. Either option has the potential to affect affordability on the lower end of the spectrum.

Although, with the continued influx of REIT money into rentals, eventually competition should negatively impact rental rates across the board. That said, we're far away from that yet. At 70k rental units on the market in Ottawa, another 1200 or so will need to be brought into the rental pool just reach (today's) target vacancy before the competition even starts to heat up. And that assumes that no aging rentals leave the market and there is no increase in demand - both of which are unlikely.

But to address the truly affordable portion of the market, there's likely a need for some incentive if the private sector is going to be the provider. Either development charge exemption (municipal level), tax rebates (provincial or federal) would help.
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  #198  
Old Posted Nov 7, 2018, 5:36 PM
O-Kid613 O-Kid613 is offline
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Does anyone have recent pictures of the building? From a distance the exterior looks almost complete! :-)
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  #199  
Old Posted Nov 8, 2018, 5:19 PM
dougvdh dougvdh is offline
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Originally Posted by O-Kid613 View Post
Does anyone have recent pictures of the building? From a distance the exterior looks almost complete! :-)
Still quite a bit work to do on the panel cladding on the southwest corner. The brick is nearly complete where the materials lift was previously located.

Pamilla_Rochester_1 by Doug van den Ham, on Flickr

Pamilla_Rochester_2 by Doug van den Ham, on Flickr
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  #200  
Old Posted Nov 8, 2018, 9:47 PM
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Disappointing it doesn't have as much colour as they had on earlier renderings, but still a decent looking building.
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