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  #81  
Old Posted Apr 2, 2017, 11:49 PM
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Better picture from FiveFive Queen website, showing the concrete pad for the tower crane being installed:



This perspective also gives an idea of how nice it will be when the power lines along that portion of Queen Street get buried later this year. This will remove some significant ugliness from the neighbourhood......
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Last edited by MonctonRad; Apr 3, 2017 at 4:27 PM.
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  #82  
Old Posted Apr 4, 2017, 9:51 PM
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Could it be......

Are they getting ready to assemble the tower crane for FiveFive???

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  #83  
Old Posted Apr 4, 2017, 11:30 PM
Scarface Scarface is offline
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Originally Posted by MonctonRad View Post
Could it be......

Are they getting ready to assemble the tower crane for FiveFive???

Well it seems there moving a lot faster then the consent delays they where having. Wasn't the original date some time over last summer?
Things seem to moving now. They might not sell off the units at the price they are looking for, and might end up having to do the same as 25 Dominion, and lease the residential units out.
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  #84  
Old Posted Apr 5, 2017, 12:19 AM
Monctoncore Monctoncore is offline
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Well it seems there moving a lot faster then the consent delays they where having. Wasn't the original date some time over last summer?
Things seem to moving now. They might not sell off the units at the price they are looking for, and might end up having to do the same as 25 Dominion, and lease the residential units out.
The developers of this project are not the same as Dominion st. and 55 actually already is offering the ability to rent, though I'm not sure many people know that.
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  #85  
Old Posted Apr 5, 2017, 3:35 AM
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Can someone clarify something for me.

If you rent, you pay nothing more than the 'Monthly Rent' (+damage deposit and or first/last month rent).

If you buy a condo (ie:25 Dominion & FiveFive), you pay your condo same as a house, + monthly condo fees, and the other + which I'm questioning, do you pay property taxes on condos?

Reason I ask is because I recently noticed on the fancy SNB Property Assessment web site, the Condos at the corner of 191 Queen & Lutz are paying massive tax levies for each units.

Example of 191 Queen Unit #21
Year Assessment Tax Levy
2017 198,000 5,625.18
2016 198,000 3,259.75
2015 198,000 3,197.97
2014 178,000 2,907.70
2013 174,200 2,844.67

https://paol.snb.ca/paol.html?lang=en&pan=03918896

If so, then anyone buying a FiveFive condo is going to pay incredible insame large amount of levies/property taxes each year.
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  #86  
Old Posted Apr 5, 2017, 10:11 AM
Mattyyy Mattyyy is offline
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Originally Posted by Budyser View Post
Can someone clarify something for me.

If you rent, you pay nothing more than the 'Monthly Rent' (+damage deposit and or first/last month rent).

If you buy a condo (ie:25 Dominion & FiveFive), you pay your condo same as a house, + monthly condo fees, and the other + which I'm questioning, do you pay property taxes on condos?

Reason I ask is because I recently noticed on the fancy SNB Property Assessment web site, the Condos at the corner of 191 Queen & Lutz are paying massive tax levies for each units.

Example of 191 Queen Unit #21
Year Assessment Tax Levy
2017 198,000 5,625.18
2016 198,000 3,259.75
2015 198,000 3,197.97
2014 178,000 2,907.70
2013 174,200 2,844.67

https://paol.snb.ca/paol.html?lang=en&pan=03918896

If so, then anyone buying a FiveFive condo is going to pay incredible insame large amount of levies/property taxes each year.

Yes, if you own your condo you pay property taxes based on the value of the property. The rate above is quite high, so I'm guessing that person owns a second property. In New Brunswick (the only jurisdiction in North America to do this), if you own a second piece of property you pay double the property taxes. For example - if you own a 300,000 home you would pay approximately 4,800 in property taxes annually. Now if you go and add a 300,000 cottage you will pay 9,600 for the cottage in addition to the 4,800 you already pay for the house. New Brunswick - we are open for investment 😆
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  #87  
Old Posted Apr 5, 2017, 10:14 AM
Taeolas Taeolas is online now
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If you buy a condo, you own it. You own 1/X'th of the property (where X is the number of units). You pay your mortgage, and you pay condo fees to cover the costs to maintain the common property (snow plowing, landscaping, repairing roof, etc...), and some other costs (water, garbage removal...).

You do pay property taxes for your own unit. I'm not sure how SNB shows it, if they sum up the taxes for the entire property, or break it down per unit. I don't think the condo corporation is charged additional taxes on top of what the owners pay.
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  #88  
Old Posted Apr 5, 2017, 1:13 PM
Mattyyy Mattyyy is offline
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Originally Posted by Taeolas View Post
If you buy a condo, you own it. You own 1/X'th of the property (where X is the number of units). You pay your mortgage, and you pay condo fees to cover the costs to maintain the common property (snow plowing, landscaping, repairing roof, etc...), and some other costs (water, garbage removal...).

You do pay property taxes for your own unit. I'm not sure how SNB shows it, if they sum up the taxes for the entire property, or break it down per unit. I don't think the condo corporation is charged additional taxes on top of what the owners pay.
It's not any different from a house - you pay property tax based on the value of your property - which is the condo. No, the condo owner does not pay property taxes in addition to this - that would be double taxation.
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  #89  
Old Posted Apr 10, 2017, 1:16 PM
Ammn_guy Ammn_guy is offline
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up goes the crane..

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  #90  
Old Posted Apr 10, 2017, 1:27 PM
OliverD OliverD is offline
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Originally Posted by Budyser View Post
Can someone clarify something for me.

If you rent, you pay nothing more than the 'Monthly Rent' (+damage deposit and or first/last month rent).

If you buy a condo (ie:25 Dominion & FiveFive), you pay your condo same as a house, + monthly condo fees, and the other + which I'm questioning, do you pay property taxes on condos?

Reason I ask is because I recently noticed on the fancy SNB Property Assessment web site, the Condos at the corner of 191 Queen & Lutz are paying massive tax levies for each units.

Example of 191 Queen Unit #21
Year Assessment Tax Levy
2017 198,000 5,625.18
2016 198,000 3,259.75
2015 198,000 3,197.97
2014 178,000 2,907.70
2013 174,200 2,844.67

https://paol.snb.ca/paol.html?lang=en&pan=03918896

If so, then anyone buying a FiveFive condo is going to pay incredible insame large amount of levies/property taxes each year.
If you rent you're still paying property taxes indirectly.

In your example above the levy for 2017 reflects the fact that the unit is a rental unit or not the owner's primary property.
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  #91  
Old Posted Apr 10, 2017, 2:20 PM
Monctoncore Monctoncore is offline
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A simple fix to this question about fees etc., is to send an email to 55 through their site. They are usually quick to respond and can give you all the info needed, cost of renting, condo fee's etc.
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  #92  
Old Posted Apr 10, 2017, 8:27 PM
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Status of the tower crane at FiveFive Queen as of noontime today:

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  #93  
Old Posted Apr 10, 2017, 9:25 PM
Monctoncore Monctoncore is offline
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Status of the tower crane at FiveFive Queen as of noontime today:

That's a great view, it shows how well this project will fit in with downtown. I hope some more development can happen around that area of Downtown.
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  #94  
Old Posted Apr 13, 2017, 12:22 AM
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The tower crane at FiveFive Queen is now fully assembled.

The crane makes an interesting surrogate for the building that will eventually occupy this site. The crane is only a little taller and a little wider than the building will be.

I took these photos this evening to give an idea of what the impact of FiveFive Queen will be on the downtown topology.









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  #95  
Old Posted Apr 13, 2017, 2:08 AM
Phil_5 Phil_5 is offline
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Yes, it will certainly have an impact on the skyline.
I took a few shots this evening, but from a different perspective.



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  #96  
Old Posted Apr 13, 2017, 3:05 AM
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Nice pics!

Just imagine another 3-4 similar buildings going up in the east end of the downtown (along Queen or on Downing Street). Just imagine what that would do for the density of the area!
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  #97  
Old Posted Apr 13, 2017, 3:19 AM
Monctoncore Monctoncore is offline
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Originally Posted by MonctonRad View Post


Nice pics!

Just imagine another 3-4 similar buildings going up in the east end of the downtown (along Queen or on Downing Street). Just imagine what that would do for the density of the area!
Imagine a brand new RCMP headquarters right there beside the courthouse!
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  #98  
Old Posted Apr 13, 2017, 12:40 PM
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Imagine the beautiful aerial photos one could take safely with a drone, 30 meters up, on the progression of this project.

But, new federal rules says I'm grounded because I'm within 9 kms from an airport, 75 meters from any building, people, cars, or animals.

Nice pics by the way!
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  #99  
Old Posted Apr 13, 2017, 1:00 PM
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Imagine the beautiful aerial photos one could take safely with a drone, 30 meters up, on the progression of this project.
It's not quite as good as a drone, but it's what I've got:
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  #100  
Old Posted Apr 13, 2017, 2:09 PM
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There's no question you have a great vantage point for the proceedings Vorkuta.

You should seriously consider taking a photo on the first of the month every month and posting it here so that we can all see the progress as it occurs on this building.
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