Those sub 300k units seem like such a foreign concept for downtown now.
I got an email on an Etobicoke project which is high 300 starting from is also Oakville projects which are legitimately in the 350 range you got to ask yourself where is the better investment now
(09-10-2019, 07:14 PM)Momo26 Wrote: [ -> ]I got an email on an Etobicoke project which is high 300 starting from is also Oakville projects which are legitimately in the 350 range you got to ask yourself where is the better investment now
Personally, I think neither: you would be hard-pressed to get positive cash flow from either one.
Is it possible to get positive cash flow from any urban new-build condo?
(09-10-2019, 08:24 PM)panamaniac Wrote: [ -> ]Is it possible to get positive cash flow from any urban new-build condo?
In some cities, yes, definitely. In Kitchener, it's not so easy -- maybe at Barra, where I believe you would still be a able to get a 2BR unit for about $400K.
Some additional price points for this discussion:
- Barra Lofts (2017): $400-450/sqft
- Young Condos (2019): $500-550/sqft
Which Barra. The only one, on Queen right? I thought they were more than that. Look at realtor they start at 339k. What's the square footage? Do you expect to fetch same rent being they are on over on Queen and off King 3 blocks?
Also that may not sound far (it isnt) but with these projects it often comes down to the street that impacts price
(09-10-2019, 07:14 PM)Momo26 Wrote: [ -> ]Those sub 300k units seem like such a foreign concept for downtown now.
I got an email on an Etobicoke project which is high 300 starting from is also Oakville projects which are legitimately in the 350 range you got to ask yourself where is the better investment now
I'm still thinking they're banking on 'location, location, location'. And Station Park has the absolute best location. With GO Transit eventually coming all day, you can have a semi big-city feel in KW, do your work on the way to the office in Toronto, but pay a lot less than in Toronto. In some cases, you can get away without using either GRT or TTC, if that is your plan, just use GO from the Kitchener Hub to Union Station in Toronto.
Now, would I buy a unit? No. I think the condo prices in this city are ridiculous. But if my circumstances were different (if I had no dependants, if I had a cushy, well paying job) I might have been game.
(09-11-2019, 12:46 AM)jeffster Wrote: [ -> ]I'm still thinking they're banking on 'location, location, location'. And Station Park has the absolute best location. With GO Transit eventually coming all day, you can have a semi big-city feel in KW, do your work on the way to the office in Toronto, but pay a lot less than in Toronto. In some cases, you can get away without using either GRT or TTC, if that is your plan, just use GO from the Kitchener Hub to Union Station in Toronto.
For commuting to Toronto, and assuming that the not-so-rapid current GO service is OK for you, then this may be a great spot.
But for living and working in Kitchener, I would argue that Charlie West is better, closer to the core of DTK and only a block away from Victoria Park. To me, the only better location would be the former transit terminal kitty-corner from there, when it is eventually redeveloped.
What is the old bus terminal going to turn into? If indeed demolished and made into commercial/more condos above (ie. 2 towers), this could definitely be looked at the new central point - given proximity to park/clock tower. But for now, that corner of King and Victoria seems to take the cake of focal point of DTK...
(09-11-2019, 12:01 PM)Momo26 Wrote: [ -> ]What is the old bus terminal going to turn into? If indeed demolished and made into commercial/more condos above (ie. 2 towers), this could definitely be looked at the new central point - given proximity to park/clock tower. But for now, that corner of King and Victoria seems to take the cake of focal point of DTK...
No idea what they're turning it into, but I can't see the old terminal area becoming the focal point of downtown. It's in a weird location. The focal point is definitely the King/Victoria area due to all the new projects and the transit hub eventually going in there, connecting people to the LRT, buses and regional trains and just steps away from towering condos and a lot of offices.
I just keep coming back to the fact that I can't see them getting such a high sq ft cost. But what do I know. They're the experts
(09-11-2019, 12:01 PM)Momo26 Wrote: [ -> ]What is the old bus terminal going to turn into? If indeed demolished and made into commercial/more condos above (ie. 2 towers), this could definitely be looked at the new central point - given proximity to park/clock tower. But for now, that corner of King and Victoria seems to take the cake of focal point of DTK...
(09-11-2019, 12:04 PM)ac3r Wrote: [ -> ] (09-11-2019, 12:01 PM)Momo26 Wrote: [ -> ]What is the old bus terminal going to turn into? If indeed demolished and made into commercial/more condos above (ie. 2 towers), this could definitely be looked at the new central point - given proximity to park/clock tower. But for now, that corner of King and Victoria seems to take the cake of focal point of DTK...
No idea what they're turning it into, but I can't see the old terminal area becoming the focal point of downtown. It's in a weird location. The focal point is definitely the King/Victoria area due to all the new projects and the transit hub eventually going in there, connecting people to the LRT, buses and regional trains and just steps away from towering condos and a lot of offices.
Wonder what you find "weird" about the centre of DTK. Is City Hall also in a weird location? To me, it has always been and always will be King and Queen ....
Honestly, it SEEMS like Queen to (now) Wellington will define DTK for the next 3 - 5 years. Hopefully the Duke St condo and Conestoga College in Market square seamlessly transition in and become the bridge to the Market District either. The Market District will get a major boost with the Drewlo and let's say in 7 years when far more business are in the corridor, that corridor will be Cameron St to Wellington!
(09-11-2019, 02:14 PM)panamaniac Wrote: [ -> ] (09-11-2019, 12:01 PM)Momo26 Wrote: [ -> ]What is the old bus terminal going to turn into? If indeed demolished and made into commercial/more condos above (ie. 2 towers), this could definitely be looked at the new central point - given proximity to park/clock tower. But for now, that corner of King and Victoria seems to take the cake of focal point of DTK...
(09-11-2019, 12:04 PM)ac3r Wrote: [ -> ]No idea what they're turning it into, but I can't see the old terminal area becoming the focal point of downtown. It's in a weird location. The focal point is definitely the King/Victoria area due to all the new projects and the transit hub eventually going in there, connecting people to the LRT, buses and regional trains and just steps away from towering condos and a lot of offices.
Wonder what you find "weird" about the centre of DTK. Is City Hall also in a weird location? To me, it has always been and always will be King and Queen ....
Right. King/Victoria will maybe have some exciting developments in the pipeline (although at the moment there is only one active project within a two-block radius of that intersection). But Station Park is on the very edge of the downtown BIA, and there is far less development going on in midtown, (Kitchener) west of Station Park.
On the other hand, the stretch from Water St to Frederick St, and even the east end beyond that, is getting a massive amount of development. City Hall is there, So is Victoria Park, library, government offices -- and most of the bars, coffee shops and restaurants.
But each of us can have different criteria and choose a different focal point. Me, I love to live (almost) next to Victoria Park. And a ten-minute walk to GO/VIA really should be nothing for most people. You'll walk that much to get to the next subway station in downtown Toronto, too.
Does anyone know how sales are going? I assume it will take a while longer to sell out this project, compared to Circa, 100 Vic and Charlie West, all of which I believe sold out within a few days (with Charlie West, I believe they held back some units at the initial launch).
(09-11-2019, 04:06 PM)tomh009 Wrote: [ -> ] (09-11-2019, 02:14 PM)panamaniac Wrote: [ -> ]Wonder what you find "weird" about the centre of DTK. Is City Hall also in a weird location? To me, it has always been and always will be King and Queen ....
...
On the other hand, the stretch from Water St to Frederick St, and even the east end beyond that, is getting a massive amount of development. City Hall is there, So is Victoria Park, library, government offices -- and most of the bars, coffee shops and restaurants.
But each of us can have different criteria and choose a different focal point. Me, I love to live (almost) next to Victoria Park. And a ten-minute walk to GO/VIA really should be nothing for most people. You'll walk that much to get to the next subway station in downtown Toronto, too.
Not to mention the Conrad Centre, themuseum, and the Walper. Although it's all a quibble given that you can walk anywhere in DTK in 10 minutes.