101 Richmond and 111 West | 19.0 m, 24.1 m | 6 fl, 8 fl | Completed

[Ottawan]

Originally Posted by waterloowarrior

This development is a sign of the Armageddon after all! Somehow Ottawa has been relocated to the southern hemisphere and the sun shines from the North!

[Jamaican-Phoenix]

Very nice. Let's hope this gets approved but my gut tells me it will be steeped in delays and challenges.

[waterloowarrior]

How is 101 Richmond looking these days?

[waterloowarrior]

Great update from Johanna Ngoh
http://ottawacondos.blogspot.com/201...ndo-fever.html

101 Richmond
Status: Under Construction
Occupancy: Summer 2011
Total # of units: 100
# of units remaining: 17



111 Richmond
Status: Pre-construction sales
Occupancy: Summer 2012
Total # of units: 162
# of units remaining: 55

[sidman]

I am impressed how fast the 111 west condos have sold. Looks to be a nice building.

[cityguy]

I would imagine there will a crane in place any day now.

[cityguy]

The crane went up over the weekend.

[waterloowarrior]

101 Richmond by West Side Action
http://westsideaction.blogspot.com/2...-westboro.html

[m3i6]

The sales centre at 119, the old Canadian Tire lot, has been relocated to across the street. It's now on the former Billy's Aplliances lot and once again ready for sales.

119 has been cleared and fenced (not boarded).

[sidman]

Hope they start digging at 111 West soon cause I bought there

[blackjagger]

Cheers,
Josh

[condo_dreams]

Would these two condos (101 and 111) be built simultaneously, or will it definitely be a case of 101 being entirely completed first before 111 gets under way?

Just curious because I noticed that the crane is up on 101's site, but there doesn't seem to be much, if anything at all, taking place at 111's site (or at least where its sales centre used to be).

[Davis137]

The Metropole looks quite tall from that vantage point...

[condo_dreams]

walked by here earlier tonight and was surprised to see how much further 101 has come along now. Good stuff!

I like how Ashcroft has put up that HUUUGE sign for QWest across the street at the convent site, haha.

[nammo]

Has any information been posted for the QWest project? Apparently VIP opening night is tomorrow.

[tizic]

This is an interesting project. I quickly popped in to take a look. this is a multi phase project. I think there are about 5 building going up. some-what similar setup as the other condos on Richmond. Roof top area for bbq+ Game room + theater room+ gym.

I've debated about investing in new condos in downtown/west bro over past few months. From what i've seen at westbro projects almost a good 70% of people investing in these units are investors. I dont know if this is a good thing. The units are a lot more expensive than 2 years ago and rent would just barely cover the mortgage expenses etc.. So i would think most investors are more eager to buy and sell after project completion to make the standard 15-20%.

Does anyone have any insight they can provide to a new investor?

Thanks!

[sidman]

Originally Posted by tizic

This is an interesting project. I quickly popped in to take a look. this is a multi phase project. I think there are about 5 building going up. some-what similar setup as the other condos on Richmond. Roof top area for bbq+ Game room + theater room+ gym.

I've debated about investing in new condos in downtown/west bro over past few months. From what i've seen at westbro projects almost a good 70% of people investing in these units are investors. I dont know if this is a good thing. The units are a lot more expensive than 2 years ago and rent would just barely cover the mortgage expenses etc.. So i would think most investors are more eager to buy and sell after project completion to make the standard 15-20%.

Does anyone have any insight they can provide to a new investor?

Thanks!

Well I bought over at 111 West. Since then compared to last night's launch, price per sq feet has risen upwards to $50 per square foot (I bought early last year).

In my opinion, I believe these condos are overvalued. I bought mine to live in rather than as an investment, however, I don't see myself living there for more than 5 years than i'll just rent it out. In terms of an investment, how much further can they go? Your looking at around 600 square feet with parking for 300k. I still think $465 sq feet is somewhat of a good deal compared to TO, but for Ottawa, I don't see how much more you can squeeze out of this for an investment.

Instead, I would be looking at other areas where the buy in is cheap and where there is more room for value to grow. I looked over at threeOnethree, and well 747 sq feet 1 bedroom with parking for 365k? insane....

[Ted]

How can they do presales when the Sister's site plan still hasn't been approved by the city?

[Ottawan]

Originally Posted by Ted

How can they do presales when the Sister's site plan still hasn't been approved by the city?

The devil's in the details of the contract between Ashcroft and those reserving units, which I'm sure notes (possibly in small print) that terms could change pending approvals.

That said, I'm not sure it's that ethical a move for them to launch sales this early.

[minichi]

305k facing courtyard behind QWest.
Who else thinks Westboro condos are overvalued?

Are Sandy Hill condos (Galleria 2 and Claridge Plazas) better in value w.r.t. price per sqft?