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Duke Tower Kitchener | 33fl | Proposed
I'm not saying that there aren't condos that are worth buying and then renting out. But at $400K for a 700 sq ft unit (at DTK) that might rent for maybe $1500, the numbers for this building at least really don't make sense to me.

But the great thing is that we're all free to make our own investment choices. Smile
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I've always struggled to make the numbers make sense in my head too. With the condo fees, taxes and interest and what not, it would seem difficult to put much of the rental income towards your principal.
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I think the idea with a lot of investors is that the condo will be an appreciating asset. Time will tell, and if resale prices start to head downward in a meaningful way...
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I just checked and it looks like they are going for a 36 storey building. Permit is for the foundation.

Public Search Results (1)

Public Search Results (1)
Permit Number    18-113903 MU 
Project Address   60 FREDERICK ST 
Folder Type         Multiple Use Building
Sub Type             Apartment
Work Type           Foundation - Only
Status                  Open
Description          Permit is for foundation only for a 36 storey apartment building with underground parking garage and commercial units on the ground floor.



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(07-23-2018, 06:10 PM)BrianT Wrote: I just checked and it looks like they are going for a 36 storey building. Permit is for the foundation.

Public Search Results (1)

Public Search Results (1)
Permit Number    18-113903 MU 
Project Address   60 FREDERICK ST 
Folder Type         Multiple Use Building
Sub Type             Apartment
Work Type           Foundation - Only
Status                  Open
Description          Permit is for foundation only for a 36 storey apartment building with underground parking garage and commercial units on the ground floor.




Where did you find this information?  I'm having no luck at all.
Reply
(07-24-2018, 05:27 AM)jgsz Wrote:
(07-23-2018, 06:10 PM)BrianT Wrote: I just checked and it looks like they are going for a 36 storey building. Permit is for the foundation.

Public Search Results (1)

Public Search Results (1)
Permit Number    18-113903 MU 
Project Address   60 FREDERICK ST 
Folder Type         Multiple Use Building
Sub Type             Apartment
Work Type           Foundation - Only
Status                  Open
Description          Permit is for foundation only for a 36 storey apartment building with underground parking garage and commercial units on the ground floor.




Where did you find this information?  I'm having no luck at all.

https://www.kitchener.ca/en/building-and...rmits.aspx
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(07-24-2018, 09:23 AM)BrianT Wrote:
(07-24-2018, 05:27 AM)jgsz Wrote: Where did you find this information?  I'm having no luck at all.

https://www.kitchener.ca/en/building-and...rmits.aspx


Thanks.  I found the page here.  The official site still says it is 33 stories.
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(07-24-2018, 10:09 AM)jgsz Wrote:
(07-24-2018, 09:23 AM)BrianT Wrote: https://www.kitchener.ca/en/building-and...rmits.aspx


Thanks.  I found the page here.  The official site still says it is 33 stories.

I guess it could be three things: 1) DTK hasn't updated their page yet or 2) 36 floors but that includes a 3-level below ground garage or 3) DTK wants 36 floors (above ground) but approval is for 33 floors only currently.
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Keep in mind the quoted permit is only for the foundation; presumably there will be an additional permit for the actual building. Sounds like they're designing the foundation to handle up to 36 floors, but have not decided the exact count yet.
My Twitter: @KevinLMaps
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I find it sometimes confusing when they list the tower height separately. 33 storey tower and three for the podium?
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