Bauer Lofts | 57 m | 15 fl | U/C

[rapid_business]

Condo fees also are covering your common area space (workout room, party room, etc.), underground parking and the heating of such, and maintenance of a huge building as well as future repairs from elevator, to exterior glass, etc.

I use to think it was a huge expense that was useless if it didn't cover power, etc., but comparing repairs on structural aspects of a building, new roofing, etc.... I'd rather invest small amount of cash each month into this then have to pay thousands out of pocket when it needs to be done had we bought an older single family house instead.

Look at condos in larger centres and some of the amenities included. XCondos in Toronto for example. http://www.xcondos.com/ You pay a higher cost monthly, but look at what is yours to use! Just some perspective...

[Bauer_buyer]

Originally Posted by notmyfriends

Keeping the old building for "redevelopment" is pretty much the only way they could get away with calling the project lofts at all - the new slang where any conversion is a loft, even if they are one story appartments with maybe 10ft ceilings at most.

In saying that, I don't mean to take away from the project, it is very very nice. All I'm just saying is that there is a big market right now for redevelopments and "lofts" where people are willing to pay a large premium for it over a "regular" building.

could not agree with you more...one has to keep the old building to justify the term"lofts"
....when the building is complete it will be a totally new concept, certainly not "regular" for this area. The lobby will be spectacular.
...I have friends in the Kaufman Lofts and they have horror stories of "no hot water" and vehicles being stolen, just to name a few
...older buildings are not backed up by CMHC Warranty Program whereas new buildings are should something go wrong

[myfaceisonfire]

ahh the x condos, my favourite condo development going up in Toronto right now.

I like what bauer has done to turn the condo development into a mini community. There will no doubt be at least some level of street life around the development with williams, vincenzos and the new charcoal group restaurant located on the grounds. Combine this with the proposed 19 story luxary apartment (?) next door and I think that this little part of waterloo will be a bustling little spot. It's nice to see some life extend south of Wiliam.

[mark76]

Originally Posted by onishenko

Condo fees also are covering your common area space (workout room, party room, etc.), underground parking and the heating of such, and maintenance of a huge building as well as future repairs from elevator, to exterior glass, etc.

I use to think it was a huge expense that was useless if it didn't cover power, etc., but comparing repairs on structural aspects of a building, new roofing, etc.... I'd rather invest small amount of cash each month into this then have to pay thousands out of pocket when it needs to be done had we bought an older single family house instead.

Look at condos in larger centres and some of the amenities included. XCondos in Toronto for example. http://www.xcondos.com/ You pay a higher cost monthly, but look at what is yours to use! Just some perspective...

recently on CBC Marketplace they were talking about condo development in Toronto, what you have to look at and to be aware with behind the scenes and fine print things in contract.Selling dust ,what I would say.

About condo fees, I personally would never live in condo ,it might looks cheaper but its not.I consider condo fees as a 2nd mortgage and in some cases its just `basic` stuff covered ,if outside parking lot needs paving well seems tenants are going to pay.Thats what I heard from people who own one.

For Kaufman `lofts` ( those apt are not so big though) not having hot water and stealing cars plus not insured because its an old building for me its scarry.

maybe its `cool` to live in one but at what cost??

[KW4Life]

Originally Posted by Bauer_buyer

FYI...the developers of the Bauer Lofts have spent a tidy sum keeping the original building, and rehabilitating it to its new found purpose.

It's great to want to restore buildings but somebody has to pay for it.

Also the results may not be as lucrative, especially for the developers, as one might think.

I'm intrigued how people from the sidelines like to spend other people's money in order to preserve history.

I figured they were required to keep the original building. There is no way on earth it would be more lucrative to keep it to the extent it was gutted than it would be to demolish it and start from scratch.

Is it a heritage structure?

The Bauer project could have easily incorporated a new building that had all the aesthetics of the old building at the corner of John and King. Because a building is new doesn't mean it can't look old.

I to feel that people are to readily suggesting what others should spend their development money on.

[notmyfriends]

Originally Posted by mark76

recently on CBC Marketplace they were talking about condo development in Toronto, what you have to look at and to be aware with behind the scenes and fine print things in contract.Selling dust ,what I would say.

About condo fees, I personally would never live in condo ,it might looks cheaper but its not.I consider condo fees as a 2nd mortgage and in some cases its just `basic` stuff covered ,if outside parking lot needs paving well seems tenants are going to pay.Thats what I heard from people who own one.

For Kaufman `lofts` ( those apt are not so big though) not having hot water and stealing cars plus not insured because its an old building for me its scarry.

maybe its `cool` to live in one but at what cost??

The stories that come out of the Kaufman building have been from the typical whiners and complainers you would find anywhere with 300 units (the facebook page can be priceless somdays). From my knowledge there has been one car stolen, a hot water issue affected one series of units (6 in total) for a short period of time, and Andrin Homes is covering warrantee issues that Ontario New Homes Law would have covered if it wasn't a conversion. Also, the law has changed recently, or is still in the middle of changing how conversions are handled in this and other regards.

The only real problem Kaufman ever has was the lengthy delays in moving in. The rest is just bitchy people being bitchy. Bauer won't be free from that either, you just have to take some people with a grain of salt and move on.

[kwoldtimer]

[QUOTE=KW4Life;3757384]I figured they were required to keep the original building. There is no way on earth it would be more lucrative to keep it to the extent it was gutted than it would be to demolish it and start from scratch.QUOTE]

By "more lucrative" - it may have been more expensive to retain the old elements rather than build new (I don't know), but I feel fairly confident that the developer was able to charge a premium for the units because of it. Hence, more lucrative for the developer. Just a hunch

[Bauer_buyer]

Originally Posted by KW4Life

I figured they were required to keep the original building. There is no way on earth it would be more lucrative to keep it to the extent it was gutted than it would be to demolish it and start from scratch.

Is it a heritage structure?

The Bauer project could have easily incorporated a new building that had all the aesthetics of the old building at the corner of John and King. Because a building is new doesn't mean it can't look old.

I to feel that people are to readily suggesting what others should spend their development money on.

Actually the Bauer lofts were in my opinion, undervalued. Prices have escalated substantially over the last year. When the building is finished the "wow" factor will contribute even more to higher condo prices.

There have been rumours in the past about losing "frontage" if the building were razed, city bylaws I guess.
Another suggested that some of the backers of the project wanted to keep the old building....recognizing the important contribution local families had made to the history and economy of the area.
The developer has retrieved thousands of old yellow bricks which will be used in the restaurants and other venues as well, suggesting an attempt to keep as much of the old building artifacts as is possible.
Correct me but I don't think it's been designated an historic site.

[rapid_business]

Originally Posted by mark76

recently on CBC Marketplace they were talking about condo development in Toronto, what you have to look at and to be aware with behind the scenes and fine print things in contract.Selling dust ,what I would say.

About condo fees, I personally would never live in condo ,it might looks cheaper but its not.I consider condo fees as a 2nd mortgage and in some cases its just `basic` stuff covered ,if outside parking lot needs paving well seems tenants are going to pay.Thats what I heard from people who own one....

This goes without saying. Read a contract before you sign it. Get a lawyer to look over the financials of a condo board before you buy in, etc. Paving, structural work, etc. should all be covered by the condo board. However, if finances have been managed poorly, and now reserve has been built up, they can come to each owner and demand a 'special assessment' to cover necessary work. What this equates to is a bill to each owner, often for a fair chunk of cash. Now, this rarely happens, and avoiding used places with poor financial records helps.... but you need to get your lawyer to look at it.

As for a 2nd mortgage, and smaller sizes, you pay for convenience. Take it or leave it, there is a market for it, and people will pay top dollar for it. (approaching $1000/sq. foot for new condos in downtown Vancouver)

[urbandreamer]

Any locals with a camera wanna grab a few photos to post here? I'd oblige, but I'm stuck in Toronto for now. (Curious to see what the glazing looks like.)

I usually post my Waterloo photos here:

http://www.urbantoronto.ca/showthread.php?t=8444

[scarfinv]

Hi!

I've been lurking for a while. I sit on the 18th floor of the Sun Life building, and have been watching the Bauer Lofts go up. Here's a view looking down on the new building.

[Cambridgite]

Man, that is one sick photo. Thank you very much for that.

[urbandreamer]

Thanks for the photo! Do you have access to a view looking towards Kitchener?

[scarfinv]

Yes, I do! I'll try and take some pics in other directions next week (I'm on vacation this week). Unfortunately, the 19th floor patios are kept locked so I have to take photos through the windows and glare can be a problem. But the view is magnificent!

[WaterlooInvestor]

-

[Cambridgite]

Okay, that may be one of the best photos of street-level King street I've ever seen. The lighting leaves a bit to be desired, but the perspective is perfect.

[scarfinv]

By any chance, do you know if the 18th floor will be open to the public during Doors Open? Also, why is the 19th floor patio kept locked?

Unfortunately, the tours for the Doors Open day are for the old buildings only - the 1912 and 1921 buildings that front along King St. However, if you've never had a look at them, then definitely pop in for a tour - they're beautiful.

When the tower was first built, the 19th floor patios were accessible. I'm not sure why or when they locked them, but it really is too bad. Perhaps they thought there was a safety issue. Only the turkey vultures get to use them now! The vultures are a great source of entertainment to the folks that sit on the 19th floor, and also to the rest of us that get to watch them soaring around the building.

[KW4Life]

Here is a shot of Ontario Table and Chair that I took while trying out my new iPhone. You can see the Bauer Lofts have got some brickwork done on floors 4-6 and the windows are going in.

September 4, 2008:


A shaky shot. I don't think the building actually curves like this.

[Cambridgite]

^ The leaning tower of Bauer.

[Bauer_buyer]

Originally Posted by scarfinv

Hi!

I've been lurking for a while. I sit on the 18th floor of the Sun Life building, and have been watching the Bauer Lofts go up. Here's a view looking down on the new building.

congratulation...one of the best shots I've seen...