Top Condo Buildings In Ottawa That Allow BBQ’s

When searching for the perfect place to call home, trying to find a condo that ticks all of your boxes can be a daunting task. Especially if one of those must-haves is a private bbq on your balcony, which is almost impossible to find in the majority of condo buildings in Ottawa. Over 95% of the condo buildings in the city do not allow gas (or charcoal) bbq’s, shrinking your possible list down quite a bit. Here are the top condo buildings in Ottawa that currently allow gas barbecues on the balcony.

If you want to know the truth behind the lack of buildings that allow it, check out a blog post we wrote back in 2015 that explains it in more detail.

TIP: Looking at a listing and unsure if it allows a barbecue? Look at the stove/range. If it is a gas stove top, then chances are quite high that the builder also had a gas line installed to the balcony. Keep in mind that this does not guarantee that a barbecue is allowed. To confirm, it is always best to have your lawyer check the status certificate. Plus rules will constantly change, so even if you see a barbecue it does not mean that you would be allowed one (it might be grandfathered). As is with any very important “must-have”, communicate this list to both your realtor and lawyer, so that they can both verify you would be able to (this is the same with pets, etc.).

Second Avenue West - 808 Bronson

Built in 2012 by local Ottawa builder Domicile, Second Avenue West has the features that continue to attract buyers to Domicile product. While slightly more traditional than other builders mentioned here, the quality of the work and finishes within the units is quite high. Located at 808 Bronson, Second Avenue West is steps from Dow’s Lake, The Rideau Canal, Preston Street, and The Glebe. Each unit has a natural gas line installed on the balcony.

Studio Argyle - 255 Argyle

Located just off of Bank street directly in Centretown, this hard loft building gets a LOT of attention. Aside from the fact that the condo board allows personal barbecues, the units are very unique with high ceilings and industrial features. Exposed concrete ceilings, brick walls,  ductwork, etc. they are always on the list of someone looking for that hard loft look - IF there is one available. There are only 40 units over the five floors, which makes units very hard to find, especially at a decent price.

SOBA - 203 Catherine Street

Built in 2019, SoBa is the latest project from the Toronto developer Brad Lamb. Lamb brings the Toronto design to Ottawa, with modern features and finishes at an attractive price. Views from the building are jaw dropping in every direction. Located at 203 Catherine, just off of Bank street, and sandwiched in between Centretown and the Glebe. Each unit has a gas stove top inside, and natural gas line installed on the balcony.

Gotham - 224 Lyon

Gotham was Brad Lamb’s first building in Ottawa, which was completed in 2015. Located on Lyon at Gloucester, it is a short walk to the downtown core, and a block from Bank street. The building has a multitude of living options including two-storey lofthouses, single-level lofts, glasshouses, and stunning penthouses. Each unit has a gas stove top in the kitchen, and natural gas line installed on the balcony.

Merrion Square - The Radcliffe and The Norfolk - 327 Breezehill and 330 Loretta

Built by Domicile in 2010 and 2011, both of these buildings are part of Merrion Square, which is a collection of condos and homes. Located just off Carling, the buildings are located steps from Little Italy, Dow’s Lake, The Rideau Canal, and The Ottawa Hospital Civic site. Each unit features a natural gas line installed on the balcony.

One3One - 131 Holland

Domicile built One3One in 2013, which comprises of 191 units over nine floors. The building is located on Holland just steps from Wellington Street, putting you in a “walkers paradise” and providing you with the best of everything that Hintonburg has to offer. Each unit has a natural gas line on the balcony for your private bbq.

The Kavanaugh - 7 Marquette

Completed in 2015, The Kavanaugh is a beautiful building located in the heart of New Edinburgh. A short commute to the office, and access to the thriving amenities and lifestyle that Beechwood provides. There are only 124 units over 10 floors, again making the perfect units hard to find. There are some stunning views of the city, especially from higher floors where you can watch the sunset over downtown. Each unit has a natural gas line on the balcony.

The Corners On Main - 11 des Oblats Avenue and 166 Main Street

Domiciles latest project which has lately sold the last available unit, is located in Old Ottawa East. A somewhat “new” area to many unfamiliar buyers, adding a great neighbourhood to the possibilities list. It is very easy to commute to the city core, while not being located right in the busy mix of Centretown. You have the river on one side, and the Rideau Canal on the other. A short walk over the pedestrian bridge and you are at Lansdowne Park and The Glebe. Also a very easy commute to the Ottawa Hospital General (and Riverside) campus, CHEO, and UofO Medical School. Many owners will easily say its the best location in the city. The two buildings contain 74 and 64 units over six floors each. Each unit has a natural gas line to the balcony for a private BBQ!

Looking for help to find the perfect condo? Let’s chat! Fill out the form at the bottom of the page.

Claridge Icon - Sales Update

** For more information about Claridge Icon, visit our Claridge Icon page, with all of the renderings, floorplans, detailed information, etc. CLICK HERE.**

Claridge Icon continues to move along, with the building now 62.5% sold. Only 120 units are left out of the original 320 units. Pricing did go up slightly, with the available units now averaging at $602.47/sqft (was $595.76/sqft in July 2019). Lowest price in the building is $343,000 which would get you either a Redford (625sqft) on the 6th floor, or a Gable (610sqft) on the 10th floor. The average size of an available unit in the building is 742sqft.

Keep in mind that these prices include a storage locker, which is included with each unit. Parking is $40,000 per spot. Current occupancy date is set for November 2020.

How To Find The Perfect Condo When The Market Supply Is Low?

The 2019 condo market is great if you are a seller, but not that great if you are trying to buy. One of the largest issues buyers are facing right now when searching for a condo in Ottawa, is a lack of supply - there are no good condos to buy (at a decent price)! Talk about a first world problem!

When supply is low, there are a bunch of ways that a great agent can help find buyers a property. We put together a list of methods that we use with our buyer’s to find that perfect un-listed/hidden/secret condo.

Working with an agent who focuses on the specific area or building. 

This should go without saying, but if you are looking to get a difficult to find property (aka a condo), working with an agent who focuses on that type of property, or even in the specific building will give you a major head start. Why hire a plumber to do your electrical work? We often have sellers who are 2-3 months away from selling, or getting ready to list next week. Our job is to keep our “ear’s to the ground”!

Peer Networking

One of the best ways I find off market condo’s is by chatting with other agents. In this market I spend more time asking other agents what they have coming up, and letting agents know what I have before a property hits the market. Even getting an extra day notice before a property is listed, gives you the buyer a huge advantage in this market. Having focused on condo’s for such a long period, I receive a high number of other agents letting me know what they have coming up.

Off Market Builder Supply

Typically builders will only list a few units in a building, even if they have a bunch of available condos, as they don’t want to overwhelm a buyer. Often builders won’t tell buyers or other agents that they are able to be purchased. Earlier this year, we had a builder that had condo with cosmetic damage and was not being shown or advertised. However since we had a great relationship with the builder, we were able to sell it to our buyer. Our buyer loved not being under pressure from other buyers trying to compete for the same unit. No bidding wars!!

Looking Outside Your Budget

While this is normally discouraged, it has provided us with options when times were tough! In this market it is common to see sellers get extremely confident with their pricing and list way over market value. A unit that should be $350,000 but is listed for $390,000 might miss your search if you set your max budget to $375,000. A few months or even weeks on the market, and they might be willing to accept a decent offer of market value. 

Parking?

Finding a unit that includes parking can often be a huge restriction when searching, depending on the price point. Not every seller originally purchased parking and that can really cut your options down if you MUST have one. We have seen property matches drop by half - or even more! Ask yourself if you really NEED parking? Could you rent a parking spot? I have helped many buyers who have decided it was a better option for them to rent a spot in the building for $150 per month than pay $35,000 upfront plus another $80 per month in extra condo fees. While this isn’t a solution for everyone, knowing these options that you have can make a huge difference.

Consider Renting?

While you won’t hear many agents try to convince you away from buying, sometimes renting is the smarter idea - at least temporarily. We all have those friends who have bought something since it was the only option versus waiting for the right option, and regretted it shortly after. If you don’t love it, then don’t buy it! That being said, renting in this market is almost as difficult, if not worse - but at least you’re not tied to a $400k mortgage.

Need help finding a condo? If you are not already working with another agent, we would love to help. Fill out the form below, or call/txt directly 613-286-9501.

Ottawa Condo Market Statistics - July 2019

Each month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for July and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

July is typically a slower month in Ottawa real estate, with everyone heading off to the cottage and enjoying the weather. Especially after a long, cold, winter like we just had! However, for most area’s the trend of low supply / seller’s market, kept it’s pace. Every neighbour hood (with the exception of Hintonburg), saw 99% list price to sale price ratio’s, and an average price over $400,000! Centretown saw the most action with 54 new listings and 46 sales. With Westboro dominating average sold price, shortest days on market, and a high list to sold price ratio, you are in a great position if you are thinking to sell. Overall, I would expect this trend to continue or let off slightly in August as we typically see, and then start picking back up in September as there are fewer cottage days, and a more normal focus on normal life.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge District - Now Only Rental Units

Claridge announced last night via Instagram that Claridge District will now contain only rental units. Originally, Claridge had planned to launch three downtown condo projects this year (Moon, Royale, and District). Claridge Moon launched earlier this summer, and Claridge Royale is now planned to launch in the fall. Claridge District would have been located at Metcalfe and Nepean which is across the street of Tribeca towers, and consisted of two 27 floor towers, one for rental units, and one for condominiums. Based on the demand for rental housing, Claridge has decided to continue with both towers as rentals. This was a rumour that we had heard earlier this year, and part of the reason it was set to be the last project launched.

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Claridge District is on it's way up! With such high demand in Ottawa's rental market, both towers will now offer solely rental units! #ottcity 🏗 . . . #ClaridgeHomes #ClaridgeDistrict #underconstruction #Ottawa #YOW #architecture #urbanliving #citylife #rentottawa #homebuilder #ottawarealty

A post shared by Claridge Homes (@claridgehomes) on Jul 24, 2019 at 6:20pm PDT

What Condominium Buildings Are Close To Shopify? 2019 Edition

Established in 2004, Shopify has become one of Ottawa’s top employers. Seeing so much growth over the past several years, the company has now has two addresses in Ottawa; 234 Laurier Ave and 150 Elgin St. Everyday new positions are opening up at these two locations that the desire to live close to work is a top priority for new employees.

Are you a current or future employee of Shopify? If so, we put this guide together to help you decide which condo buildings you should be considering. We have narrowed down the top five buildings that are in less than a 10 minute walking distance to both Shopify locations and have the fresh contemporary look and vibe you want to have. Plus, all of these options have units available for both buying, or renting.

We have helped Shopify employees find a home in each of these buildings below - need help finding a place to live? Fill out the form at the bottom and let’s chat.

179 Metcalfe St and 40 Nepean St
Tribeca Phase One and Tribeca East

The Tribeca’s were built by Claridge Homes in 2014 and 2015. 179 Metcalfe (phase 1) contains 260 units that includes studios, one, and two bedroom units that range in size from 460sqft to 1145sqft. 40 Nepean St contains 179 that also include studio or one and two bedroom units. Both buildings feature spacious units with floor to ceiling windows that flood the space with natural light, high ceilings, and open concept living spaces.The amenities at both these buildings include a concierge, board room, party room, indoor pool, fitness centre, guest suites, bicycle storage, storage lockers, and underground parking. The Tribeca’s are within a 4 minute walking distance from both the Shopify Laurier Ave location and the Elgin St location. Hard to beat the location. Why we love them? Aside from their great location, you can find a Sobey’s (soon to be Farmboy) grocery store in the buildings podium (which also includes wine and beer sales!).

324 Laurier Ave - The Mondrian

The Mondrian was built by Urban Capital in 2008 and contains 250 one, two bedroom units (there are a couple studio units but rare) that range in size from 472sqft to 1600sqft. The units feature 9 foot ceilings, open concept living spaces, and floor to ceiling windows. All of the amenities are located on the 6th floor - which include the outdoor saltwater pool, bbq and dining area, gym, lounge/party room. Pets are also allowed in this building. The Laurier location is a short 4 minute walk from The Mondrian and the Elgin location is 7 minutes. Why we love The Mondrian? Shoppers Drug Mart is located in the podium of the building, bike paths located at the front door which allows quick and easy way to get to the office, real concierge in the building, and most units are of a good size. The building is easy to spot from the street with the solid red glass panels - an ode to french painter Piet Mondrian who the building was named after.

199 Slater St - The Slater

Built by Broccolini in 2017, The Slater contains a total of 179 studio, one, and two bedroom units. These units range in size from 1442sqft to 1929sqft and feature European kitchens, 9 foot ceilings, floor to ceiling windows, and modern barn style bedroom doors. Amenities at The Slater include a party room, theatre room, fitness centre, hot tub, storage lockers, concierge, underground parking, and also allow pets under 40 pounds. The walking distance to the Elgin St location is 7 minutes and only 3 minutes to the Laurier Location. Why we love The Slater? Aside from the higher level of quality finishes, the building also has a minimum lease term of only two nights. This means that you would be able to use the property as an short term investment (such as AirBnb) if you are traveling, or gone for an extended period of time.

300 Lisgar St - SOHO Lisgar

Built by Mastercraft Starwood in 2013, SOHO Lisgar contains a total of 169 one and two bedroom units that range in size from 522sqft to 1032sqft. These units feature gleaming hardwood flooring, marble bathrooms, European appliances, and floor to ceiling wall to wall windows. Amenities at SOHO Lisgar include a concierge, outdoor pool with loungers, outdoor BBQ, party room, theatre room, hot tub, board room, fitness room, sauna, bicycle storage, storage lockers, and underground parking. Pets are also allowed in this building. The Laurier location is a short 5 minute walk and the Elgin location is 8 minutes. Why we love SOHO Lisgar? The design is timeless, location is great, plus the amenities are stunning.

Too close? Want to live a little further out?

Don’t want to live that close to the office? We have also narrowed down 6 buildings that are modern, still close… but not tooo close.

224 Lyon St - Gotham

Built by Lamb Developments in 2016, this statuesque building features a total of 251 studio, one, or two bedroom units, that range in size from 424sqft to 1445sqft. These units feature hardwood flooring, exposed concrete ceilings and accent walls, floor to ceiling windows, and open concept living spaces. Amenities at Gotham include concierge, outdoor BBQ and dining area, party room, BBQ hookup on the balcony, bicycle storage, storage lockers, underground parking, and pets are also allowed. Gotham is a 13 minute walk to the Elgin Shopify location and a 10 minute walk to the Laurier location. Why we love Gotham? Aside from the modern finishes (exposed concrete), Gotham is the only building on this list that allows you to have your own BBQ on your balcony (gas hookup on the balcony), plus gas stoves in the unit.

255 Bay St - The Bowery

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The Bowery was built by Richcraft in 2017 and contains a total of 248 studio, one bedroom, two bedroom, or two storey units, that range in size from 375sqft to 945sqft. The spacious units feature hardwood flooring, sleek kitchens with granite counter tops, and large windows flooding the living space with natural light. Amenities at The Bowery include a rooftop pool, outdoor BBQ and dining area, party room, yoga centre, fitness centre, concierge, guest suites, storage lockers, underground parking. This building also allows pets. The Bowery is a 15 minute walk to the Elgin location and 11 minutes to the Laurier location. Why we love The Bowery? The amenities are beautiful. Indoor rooftop pool, gym, lounge, dining room, they are hard to beat.

354 Gladstone Ave and 349 Mcleod St
Central Condo Phase 1

Central Condo Phase one was built by Urban Capital in 2012 and is comprised of 240 one and two bedroom units that range in size from 478sqft to 1117sqft. These stunning industrial style units feature gleaming hardwood flooring, 9 foot concrete ceilings, exposed concrete pillars and ductwork, and floor to ceiling windows. The amenities are shared between the two buildings and include a concierge, dining room, fitness centre, party room, and recreation centre. Central Condo Phase One is within a 13 minute walk to the Laurier location and 16 minutes to the Elgin location.

360 Mcleod and 340 Mcleod st
Central Condos Phase 2 and Hideaway

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Built by Urban Capital in 2014 and 2015, these two buildings contain 328 studio, one or two bedroom units that range in size from 435sqft to 863sqft. These urban-style units feature 10 foot exposed concrete ceilings, exposed ductwork and modern sliding bedroom doors. The amenities are shared between the two buildings and feature a party room with full kitchen and pool table and private terrace with outdoor BBQ. There is also a resort style outdoor pool with private cabanas and poolside fireplace. Both buildings are a 15 minute walk from the Laurier location and 18 minutes to the Elgin location.

Also in walking distance to these condominium buildings is a Sobeys Urban Fresh, Independent Grocer, Shoppers Drug Mart, LCBO, several coffee shops, five star restaurants, and so much more.

Are you a Shopify employee who is new to Ottawa, trying to sort out where the best place to live is? Unsure and want help? Let’s chat! Fill out the form at the bottom of the page, txt/call 613-286-9501, or email Matt@mattrichling.com

Ottawa Condo Market Statistics - June 2019

Each month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for June and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Wow, things keep getting hotter and hotter in the Ottawa condo market. The average selling price, days on market, list to sold price, - all keep getting more intense.

Sellers: While things are doing well for you, we are still seeing properties that don’t sell above asking, and are taking quite a while to sell. It is not as much of a sellers market as one would think. Pricing and how a unit is shown, is more important than ever. I am seeing condos listed both over and under market value (by lack of experience), and seeing condos priced correctly while also zero effort put into preparing for showings. If you had looked at selling over the last few years, but decided to put a tenant inside instead, this might be the time to review the market and data.

Buyers: Patience, preparation, and persistence. Be patient - supply is low right now and the best units will come on the market (maybe not in your price point anymore, but they will list, I promise). This isn’t a crazy sellers market. You have to be able to say no if the unit isn’t what you are looking for. Preparation - Get that mortgage pre-approval now. Know your numbers and what exactly you can afford. Being able to walk into the offer process with shorter timelines will make you stand out and give you more confidence with your offer. Persistence - Again, there is a supply shortage. The best units will come on the market, will just need to wait it out. We are also seeing more and more multiple offer scenarios, which means that you have a larger chance of loosing out if you don’t act quickly or are not prepared. If you do loose out, don’t give up!

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Moon - Choosing Units + Views

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Pre-construction condo buying can be very exciting but also intimidating. You are trying to choose the best unit, with the best view, with out spending over your budget. Last thing you want to do is to purchase a unit, thinking that the view is going to be unobstructed to move in and find out that you are facing another building.

We have gone through all the leg work to track down heights and make things easier for you.

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The Building

The building is one of three in the development. The condo building is 27 floors, located at the north east corner of the lot. The rental building will be 27 floors, located at the south west corner of the lot. The podium block will be three floors, and then the third tower will be nine floors and located the at the south east corner of the lot.

North Facing

Directly to the north of the condo building is a 13 floor building plus mechanical rooms on the roof (located across the street). To clear this building you would need to be roughly on the 14th floor, or 15th floor to be safe. There is no planned development that would affect the north facing view. The north facing units would be Hydra, Ariel, Luna, Equinox, and the Atlas floorplans (North west corner).

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North facing view from the 19th-20th floor (58 meters).

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North facing view from the 25th floor (73 meters).

South Facing

Directly south of the condo will be the nine floor tower (plus possible mechanical units). Further from the building (across the street) you are currently looking at a parking lot. They owner has applied to use the lot as a parking lot for the next three years. Previously Brocolini had started moving forward on a mixed use project, and then most recently a hotel and rental building that would consist of two towers both 27 floors.

To have the best unobstructed views facing south you would want to be located on the 10th or 11th floor and above. South facing units would include the Titan, Elara, Calypso (1,2,3), Vesta (South west corner), and the Portia floor plans (South east corner).

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South facing view from the 15th floor (44 meters).

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South facing view from the 25th floor (73 meters).

West Facing

Directly west of the project is a 14 floor building, however the rental building as part of this project will also be located to the south west of the condo tower. In order to have the best views, you would want to be on the 15th or 16th floor. West facing floor plans would include the Atlas (North West) and the Vesta (South West).

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West facing view from the 20th floor (58 meters).

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West facing view from the 25th floor (73 meters).

East Facing

Directly to the east of the building is a 25 floor building (plus roof structures), which is located across the street. East facing floor plans would include the Callisto and the Portia (south east).

Trying to sort out the best unit that is within your budget? We can chat about your goals and help you find the best fit. Fill out the form below and let’s chat more.

Claridge Moon - Sales Update

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

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Claridge launched its latest project called Claridge Moon which will be located at the corner of Queen and Lyon street. The project will consist of 266 units over 27 stories. As of today, Claridge has sold firm 33 units with another 10 units currently held reserved for signing. Pricing has not yet increased, yet we are told to expect an increase soon.

Richcraft's The Charlotte - Launch Update

Richcraft has provided a soft update for when to expect the launch of their next project, The Charlotte, which will be located in Sandy Hill at 560 Rideau Street. They don’t have an exact date yet, however expect the project to launch later this fall. The building (currently as per plans) consists of 212 units inside the 14 stories, with pricing advertised to start from the mid $200’s. Richcraft says it will be “Stylishly crafted with a modern outlook and cutting edge amenities and finishes, The Charlotte will be Ottawa’s premier condominium residence.”

Echo Canal - Uniform Developments - Launching June 22

**For more information about ECHO Canal by Uniform, visit the ECHO Canal page here**

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Uniform Developments has quietly announced the launch for it’s highly anticipated boutique building called ECHO. Uniform will be accepting only 27 appointments on a first-come, first-served basis, which will begin on Saturday June 22nd, 2019 at the sales center.

ECHO will be located at 115 Echo Drive, with 32 units over 6 stories. Launch pricing ranges from $846,000 up to $2.968M with units ranging from 920sqft up to 2,461sqft. The units will feature high end finishes with custom kitchens featuring custom millwork, Miele kitchen appliances, large format gas fireplaces with stone mantels, etc. The building is mostly made up of two bedroom units, with only one 1 bedroom. (one 1bed +den, two 2bed, 26 2bed +den, three 2bed +den penthouses).

For more information about ECHO, including floorplans, pricing, or questions about pre-construction condominiums in Ottawa, fill out the form at the bottom of the page.

The Bowery - Sales Update

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“O7” Floorplan at The Bowery

The Bowery has only 20 units remaining including four model suites, that are available for purchase. There are 246 suites (250 if you include the two guests suites, sales office, and the superintendents unit) in the building in total. Pricing beings at $276,000 for the S5 model, a 493sqft studio. The largest unit that is currently available is the F4 model which is a one bedroom plus flex, 686sqft, for $381,000. All units include four European stainless steel appliances, washer and dryer in-unit, quartz counters, and hardwood flooring throughout the unit - all standard.

**For more information about the Bowery, visit our Bowery page located HERE.**

For more information about new condos located in downtown Ottawa, or for help to decide which unit is the best fit for you, fill out the form at the bottom of the page!

First Time Home Buyers Incentive - Full Details Announced

Earlier this year, the government announced a plan to help first time home buyers enter the market and help reduce their monthly mortgage carrying costs. There was no in depth information provided, and a large amount of speculation about what exactly it could include or who would be eligible.

This week, the government provided all of the details. Launching September 2nd, 2019, the first time home buyer plan is aimed at providing a 5% or 10% shared equity mortgage with the Government, which will act as part of the deposit.

More in-depth
- Total qualifying income must be no more than $120,000 and your total borrowing is limited to four times the qualifying income.
- At least one of the persons on title must be a first-time buyer (keep in mind this is also valid for those who did not own within 4 years)
- Total borrowing (including the incentive amount) is limited to four times the qualifying income.
- The incentive will be a second mortgage that is registered on the title of the property.
- There will be no regular principal payments, it is not interest bearing, and a maximum term of 25 years.
- The incentive is offered at 5% or 10% for a new construction home or condo, or only 5% for a existing re-sale home or condo.
- Property must close on or after November 1st, 2019
- Property can be a 1-4 unit residential property (hello investors), and must be available for full-time, year-round occupancy (no cottages).
- The first time buyer will be required to repay the incentive after 25 years or when the property is sold (or sooner without penalty). Refinancing will not trigger re-payment.
- Repayment is calculated at property’s fair market value at time of re-payment. If you took a 5% incentive, you would pay back 5% of the homes value at the time of repayment.

Example

Olivia wants to buy a new condo for $400,000.

Under this incentive, Olivia can apply to receive $40,000 in a shared equity mortgage (10% of the cost). This is on top of the minimum required downpayment of 5% ($20,000) that she must provide from her savings.

This lowers her monthly expenses, and the amount that she is borrowing. As a result, Olivias mortgage is now reduced by $228 less per month or $2,736 a year.

When Olivia sells her home for $420,000 she would have to pay back the incentive of 10% which is now $42,000.

Do we like it?
This is a great tool for someone who wants to lower their monthly carrying costs. It might not be a great tool for someone in a larger market with higher average prices. Every situation is different and even if you qualify, this might not be a good fit.

Do you have questions about if the new first time home buying incentive is a good fit for you? Let’s chat. Call, txt, email, or fill out the form below.

Claridge Royale - Launch Postponed

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Claridge had originally announced a public launch date for its latest building, Claridge Royale, of Saturday June 15th. Claridge has now announced that they have postponed the launch until this fall.

**For more information about Claridge Royale, visit the Claridge Royale page here.**

Fenced In Dog Parks And Where To Find Them In Ottawa

If you are a dog owner and living in Centretown, Glebe, or Westboro, you are most likely wondering where the closest fenced dog park is located. Granted, you can take your pup for a walk in your neighbourhood but sometimes they just want to run and play! Fenced dog parks are essential when you want your dog to run off-leash but still have control of the environment they are in.

Centretown

There are two fenced in dog parks located in Centretown and their locations are convenient for those that either live towards Elgin St and Frank St or Slater St and Bronson Ave.

Jack Purcell Park is located on the corner of Frank and Elgin St, down the street from the Elgin St Diner. Jack Purcell Park has two gated entrances, the first gate allows you to prepare your dog to enter the dog park or if your dog needs a break there is a water fountain for you to use and a lower spout for your dog. The second gate allows you into the park where there is lots of room for your dog to play, as well as some shaded benches and able to relax at. The park is open 6am - 10pm year round and is closed 10pm-6am year round.

Tech Wall Dog Park is located on the corner of Slater St and Bronson Ave. This dog park has lots of room for your dog to run and play, there is a single gate access into the park and two benches at the entrance. The dog park is open year round from 5am-11pm.

Glebe

Lansdowne is well known for TD Place, Whole Foods, JOEY, and the Aberdeen Pavillion, but did you know just behind Lansdowne off Queen Elizabeth Dr is a dog park? This dog park has lots of room for your dog to run, roam, and play and several water fountains at your disposal. The dog park is open year round, 7 days a week.

Westboro

If you are driving west on the Queensway just after the Island Park off ramp is the Hampton Dog Run Park. You can access the dog park from Sebring Ave that leads into Parkview Rd. This large dog park is fenced in and is accessible 24 hours, 7 days a week.

Are there any others that we should add? Let us know.

Wading Pools 2019

Summer is fast approaching and what better way to spend some of the summer holiday than at a pool!

It’s not always easy to navigate where a wading pool is located, what time they are open, and what days they are closed. We narrowed down wading pools designated to four districts to help save time.

Centretown

St Lukes Park - 166 Frank St
Open: July 2nd - August 27th 2019.
Hours: Monday 11am-6pm, Tuesday 12pm-7pm, Thursday Noon - 7pm
Closed: Wednesdays and Fridays

McNabb Park - 435 Bronson Ave
Open: July 2nd - August 27th 2019.
Hours: Monday 11am-6pm, Tuesday 12pm - 6pm, Wednesday 12pm-7pm, Friday 11am - 6pm
Closed: Thursdays

Sandy Hill

Sandy Hill Park - 250 Somerset St
Open: July 2nd - August 27th, 2019.
Hours: Monday 11am - 6pm, Tuesday 12pm - 7pm, Wednesday 12pm - 7pm, Friday 11am - 6pm.
Closed: Thursdays

Strathcona Park - 25 Range Rd - Sandy Hill
Open: June 27th - August 27th 2019
Hours: Tuesday 12pm - 7pm, Wednesday 12pm -7pm, Thursday 12pm - 7pm, Friday 12pm - 6pm
Closed: Mondays

Little Italy

Chaudiere Park - 68 Elm St
Open: June 27th - August 27th 2019
Hours: Monday 11am-6pm, Tuesday 12pm - 7pm, Wednesday 12pm-7pm, Thursday 12pm - 7pm
Closed: Fridays

Hintonburg

Reid Park
Open: June 27 - August 27th 2019
Hours: Monday 11am - 6pm, Tuesday Closed, Wednesday 12pm -7pm, Thursday 12pm -7pm,
Closed: Fridays

Westboro

Lion’s Park - 294 Elmgrove Ave
Open: July 2nd - August 27th 2019
Hours: Monday 11am - 6pm, Tuesday 12pm - 7pm, Wednesday 12pm - 7pm, Thursday 12pm - 7pm, Friday 12pm - 7pm

Iona Park - 223 Iona St
Open: July 2nd - August 27th 2019
Hours: Tuesday 12pm - 7pm, Wednesday 12pm - 7pm, Thursday 12pm -7pm, Friday 12pm -6pm
Closed: Mondays

Hampton Park - 645 Parkview Rd
Open: June 27th  - August 27th 2019
Hours: Monday 11am - 6pm, Tuesday 12pm - 7pm, Wednesday 12pm - 7pm, Thursday 12pm - 7pm, Friday 11am - 6pm.

There are currently two staggered starting dates for wading pools to extend weeks of operation across Ottawa; June 27th - August 22nd 2019 and July 2nd - August 27th, 2019.

Ottawa Condo Market Statistics - May 2019

Every month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for May and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Centretown has been a very hot month for condo sales. Over last month (April 2019) we saw the average sold price has increased, along with the number of sold units, the days on market has dropped in almost half, plus the list to sell price has tightened up, all signalling that demand for Centretown has increased, while the supply (up until this month) had not. However we have seen the supply (new listings) increase from 58 in April 2019, to 79 in May 2019. While that is not a significant number, it should certainly help buyers who are trying to get into the area. Overall it is still a very strong sellers market.

Over last month (April 2019), Byward Market and Sandy Hill, continues to improve slightly, with over $22k average selling price increase, and an extra 1.2% list to sold price (99.5% vs 98.3% in April 2019). Number of units sold, number of new listings, and days on market improves only slightly. Overall, this shows the improvement over last year. The Byward Market and Sandy Hill are still a balanced market or slightly leaning towards a sellers market.

Little Italy is still a difficult area to breakdown with such few sold units - take these numbers even more with a grain of salt. While there was very little change over last month (okay, yes average sold price increased by 18k) the one exception was the days on market jumped to 60, which was more in line with what we were seeing in 2018. We are still seeing fewer listings on the market, which is helping to keep the list to sold price at a very tight 99%. With such little supply in Little Italy, the hot properties will sell quick and for a very strong price.

Same as Little Italy, these Hintonburg condo stats need to be taken with a grain of salt due to the low volume of sold units. We are starting to see the days on market rise, along with the amount of new listings to match what we saw last year at this time. However in perspective to other neighbourhoods in Ottawa, the days on market is still quite low, and with a higher list to sold price it is still clear that it is a sellers market in Hintonburg. If we saw more supply hitting the market, then we might see things balancing out in more favour for a buyer.

The Westboro condo market has continued to improve with only four new condos adding to the supply. The days on market is the lowest in the city, with the highest list to sold price (tied with Byward Market and Sandy Hill). This is certainly a sellers market and we will need a large number of new listings to help balance it out.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Bank Of Canada - Continues To Hold Interest Rate At 1.75%

Again, for the fifth straight announcement, the Bank Of Canada has left the benchmark interest rate unchanged at 1.75%. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC had decided to raise the rate.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The announcement dates are January 9th, March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th.

Claridge Royale - Launch Date Announced

Claridge has announced the date for Claridge Royale, the second of the three developments that the builder is set to launch this year. The public launch will happen at 11 am on Saturday June 15th, at at the Claridge Royale Sales Office (244 Rideau Street). Claridge Royale will be located at 245 Rideau Street, where the Metro is currently located.

Claridge Royale is set for occupancy in 2023 with a total of 250 units.

For more information about Claridge Royale, visit the Claridge Royale page here.

Claridge Moon - VIP Launch Update

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Yesterday, Claridge held its first launch for it’s newest building, Claridge Moon. The turn out was very good with a constant line around the building. Unconfirmed number of units that have been reserved is 54 units or just over 20% of the building already reserved, after the first inital launch. The public launch begins tomorrow at 12pm at the sales centre, and we are expecting prices to rise slightly.

In terms of pricing, the building average is $648sqft with lowest being $575sqft up to $900sqft. If you don’t include the penthouse units (floors 26 and 27) the largest unit is 910sqft, and the smallest being 465sqft. Putting the average size of the building at 667sqft (not including the PH’s). Lowest priced unit is the $300,000 Titan floor plan, which is 510sqft. Previous to that was the Telesto floor plan (which is now reserved) of 465sqft for $272,000. Note that all units including a storage locker at no extra charge.

The penthouse units, which are located on floors 26 and 27, range in price from $448,000 and $464,000 (Vesta floor plan 640sqft), to $946,000 (Moonlight floor plan 1160sqft), and up to $1,635,000 (the Pandora floor plan 1890sqft).

There is no question that the excitement for this project is high - proximity to the LRT, and a Sobey’s in the ground floor podium.

Few more details:

- Condo fee’s are approximately $0.62/sqft
- Parking is $45,000 per spot ($77.74/month condo fee)
- Occupancy of September 1st 2023
- 25% Total Deposit ($20k to reserve, 10% (less the 20K) at signing, 5% 30 days from signing, 5% at excavation, 5% at interim occupancy)

Questions about pre-construction condos in Ottawa? Trying to decide on the best project for your goals? Let’s chat. Fill out the form below!