Westmount Grand Condos | 36 m | 12 fl | Proposed

[WaterlooInvestor]

-

[WaterlooInvestor]

-

^Once again, I hope it looks better in colour.

[WaterlooInvestor]

-

[myfaceisonfire]

"Note: No blue denim allowed on site. Please dress accordingly"

They certainly are pushing this as a luxury and posh development. It's too bad the design (on the exterior at least) doesn't reflect this. It's essentially the same as all of the other ugly boxes going up in Waterloo with some extra glass. I'd be surprised if this project succeeds. If somebody is willing to fork over the $$$$ for a luxury condo then they're going to demand something more than this.

The amenities are nice and the suites themselves don't look bad, it's just too bad it's going to look so ugly to the passerby. At least the balconies give it some shape and interest.

[WaterlooInvestor]

-

"Note: No blue denim allowed on site. Please dress accordingly"

Just a tad elitist, don't ya think?

The design is okay, but nothing to warrant the exclusion of denim, that much is sure. And honestly, I don't know why luxury condominiums are being attempted here. Think about the location at Erb and Westmount... student central. This would work uptown, but such a building is stupid here. I'm thinking they're going to have to alter the project towards a relatively lower-end market or make significant changes to the exterior in order for it to be a success.

[myfaceisonfire]

Originally Posted by Cambridgite

Think about the location at Erb and Westmount... student central.

I agree 100%. As a i browse the site and see some of the renderings I notice that some things a conspicuously absent, namely the Temple on the East Side and the gaudy office on west side across Westmount. People are not going to want to pay $260/sq foot for that view. The location is dangerously close to being in the dead zone between suburbia and the uptown core and offers no real amenities within walking distance (unless you count Farah's Foods as an amenity).

[WatDot]

Originally Posted by Cambridgite

"Note: No blue denim allowed on site. Please dress accordingly"

Just a tad elitist, don't ya think?

hahaha... if they can't handle jeans wait till they experience all the burkas next door to them.

I have to agree with what was hinted earlier... not sure this project will succeed as currently marketed. Glad to see high density replace ghetto rentals, but the market they are going for needs to be re-evaluated IMO (for that location).

[maddindian]

Isn't the Westmount Grand condos at the ideal location? It is minutes away from RIM & other hi-tech companies as well as the Universities.

The suites are also much better finished and the condo fees are cheap (for now). I, personally, feel its a better deal than Kaufman Lofts simply because those lofts: a) are poorly finished (if you want to call it finished) b) really small. $170k for 600sqft is a lot of money c) lack of amenties, namely underground parking. That's a huge turnoff for me, especially given KW's horrible winters & ice storms.

That said, the Westmount Grand condos are expensive. $280k for 2 bedroom 1000sqft is nothing to sneeze at, but the finishing & location are its high points. I was looking at other occupied condos in the area and they were in the $180k-$220k range for similar size but they were not as well finished (old condos after all) and had outrageously high condo fees ($530/mo!!).

So I'm pretty confused as to what to get. I imagine in 2009 (when Westmount Grand is completed), the value will be in line with similar properties. The only competitor I can think of is Le Marche which is much cheaper and nicely finished (although not that nice), but the area is not ideal.

[WaterlooInvestor]

-

[kitchener-lrt]

Originally Posted by WaterlooInvestor

IMO it's definitely not at the ideal location which is somewhere closer to King Street in Uptown->Downtown near a proposed LRT station.

I also think so, but remember, it's not certain that we're getting LRT---yet.

[maddindian]

Originally Posted by WaterlooInvestor

First off, welcome to SkyscraperPage maddindian! I hope you enjoy your time here.

That said, I have to disagree with your post. Don't take anything personally, and feel free to discuss or disagree with my points.



Although it's not a terrible location (ie. somewhere like Erb Street & Ira Needles Blvd), IMO it's definitely not at the ideal location which is somewhere closer to King Street in Uptown->Downtown near a proposed LRT station.



Depends on what style you're looking for. To me personally, the Westmount Grand has more of an "empty-nester" or "45 year old+" finish.

a) Kaufman's has more of a youthful "early 20's-35 year old" feel. Some Facebook photos:

Plus you were able to customize/upgrade your loft to the finishes you wanted: ie. in my unit we've put in a glass bedroom door, hard wood floors, a heat lamp for the bathroom, etc..

b) I've seen 400sq ft units in Toronto. 600 sq feet isn't that small for a first time buyer who doesn't have kids or 3 sets of furniture. Plus with 12 foot ceilings, it means you just build up rather than out (ie. you buy a tall rather than a wide bookcase). You also want to buy furniture that does double duty: ie. a bed with storage space underneath. Also it's a good idea to watch home shows where sometimes they do specials on "living in smaller spaces".

In terms of price: $170K for 600sq ft works out to $283/sq ft. You could probably negotiate a bit off the list price and buy the unit in the $270's range, which isn't really that expensive for a loft. Remember you have high ceilings, huge windows, are across from a proposed LRT station, you're surrounded by festivals in the summer, you can walk to many places. Overall it's a "fun" location to live in, and it's worth the extra price compared to a more suburban setting.

Also, $283/sq ft isn't even the most expensive price in the KW market. I have a Bauer Loft price list from July 7, 2007 which has a 691 sq ft unit priced at $199,900 or $289/sq ft. You'd probably need to add another 2-3% now that it's 5 months later.

c) Lack of underground parking is a huge turnoff. Although Kaufman's isn't loaded with amenities, there are some such as a roof-top terrace with BBQ's, party room, and a craft/art area in the basement. Also, entry into the building is done with swipe cards, a cool feature for young people.



Depends on what you're looking for. If you're happy living in a building that's dated on the outside, that will have more of an adult/senior feel and that's not located in "the action", then go with the Westmount Grand. Personally I was looking for the exact opposite though.

Fair enough. It depends on what we are looking for. I'm interested in the Westmount Grand as an investment vehicle as well since it seems to be the only condo of its kind in the area (luxurious & well equipped).

My only worry is that it is overpriced for now, and will drop in value in the next three - four years. That's the only thing holding me back from jumping on it.

As for the entertainment aspect of living in downtown, that doesn't appeal to me as much since I don't spend my weekends in the KW area. I'm only here during the work week.

What are your opinions on the Le Marche condos? I couldn't find much about it on this forum (I searched!).

Btw, I saw those Kaufman Loft pics on Facebook already I was really excited about the place until I saw the lofts in person. The ones that were for sale were not well finished at all.

[WaterlooInvestor]

=

[kitchener-lrt]

Originally Posted by WaterlooInvestor

Says kitchener-lrt.

Touche (too shey) .

[WaterlooRegioner]

I just drove by westmount and erb today, there is still no sign of progress. All they have done in the entire time since this project was announced is tear up the trees/shrubbery in the area behing those two houses. When will those two houses be torn down and the groundbreaking begin? Are they waiting for warmer weather? Any case, I have relatives just down the road from there in the Westmound Grands. It's a very nice area, and I don't believe the argument above is very valid(about LRT). It's a luxury condo, meaning wealthier people, as a rule this is not the demographic that uses public transit especially in an area such as Waterloo Region.

[DHLawrence]

On the other hand, as a co-worker of my mother's said, the people on services like GO Transit are a nicer class because they drive to the station!

[rapid_business]

Well... there you go. I guess as a frequent public transit support and user I fall into said 'lower class'....

[WaterlooRegioner]

It's not always the case, but you can't argue with the trend. That trend being that GENERALLY, in a region such as ours, your upper class barely ever hops on a bus or train. Atleast not until it is an essential due to traffic, which is not yet the case in our region. It's all about appeal, what is more appealing? Showing up in a Merceded Benz sedan or on a train? I can allow you to decide that one. We all would like to believe that all the wealthy people will hop out of their cars and onto the train, but that's not the case. I can see the train attracting some of our middle class, and maybe even a few wealthy folks who have the mindset to be able to sacrifice their car for the train, I know it would be tough for me. In the long run I can see more 'hopping on board' per say, but for now I'm gonna say the location of a light rail has nothing to do with it. It's all about the money for the developers, and buying land at the corner of westmound and erb is cheaper than buying prime land on King near the LRT and they will likely sell them out either way. By the looks of these preliminary sketches and floor plans these will be one of the most upper-end condos in K-W. Look for prices to easily be $300 000+. Don't take it personally, I'm going to use a lame but effective catch phrase "it's just business."

[WaterlooInvestor]

-