595 Strasburg Rd | 9 fl | U/C

[dtkvictim]

$2000/month for 1BR ... on Strasburg Rd? It seems to be the going rate downtown now, but surely this far away should be less expensive.

In a city the size of KW, does location really affect the price of rental apartments that much?

[tomh009]

$2000/month for 1BR ... on Strasburg Rd? It seems to be the going rate downtown now, but surely this far away should be less expensive.

In a city the size of KW, does location really affect the price of rental apartments that much?

Much easier to be car-free in downtown. Possibly even walk/bike to work. That does make it more attractive.

[plam]

In a city the size of KW, does location really affect the price of rental apartments that much?

Much easier to be car-free in downtown. Possibly even walk/bike to work. That does make it more attractive.

I wouldn't pay that for that location (because of the car requirement), but apparently people do.

[dtkvictim]

In a city the size of KW, does location really affect the price of rental apartments that much?

Much easier to be car-free in downtown. Possibly even walk/bike to work. That does make it more attractive.

I get that, but that's your (and my) values. The number of people looking for that is definitely growing rapidly, but I'm not convinced that they even outnumber the people who will pay specifically to live further from downtown.

In large cities/metro areas like the GTA it gets more complicated, as living on the periphery starts to cause serious transportation problems even with a car, whereas if you have a car in KW basically nothing is "far".

[tomh009]

Much easier to be car-free in downtown. Possibly even walk/bike to work. That does make it more attractive.

I get that, but that's your (and my) values. The number of people looking for that is definitely growing rapidly, but I'm not convinced that they even outnumber the people who will pay specifically to live further from downtown.

Not really values in this case ... just costs. Our software development team of about 25 has five people who do not own a car, and either walk, cycle or transit to get to work. It's a big cost savings. I do think our percentage is unusually high, but especially for younger people the savings from not owning a car are substantial.

[dtkvictim]

I get that, but that's your (and my) values. The number of people looking for that is definitely growing rapidly, but I'm not convinced that they even outnumber the people who will pay specifically to live further from downtown.

Not really values in this case ... just costs. Our software development team of about 25 has five people who do not own a car, and either walk, cycle or transit to get to work. It's a big cost savings. I do think our percentage is unusually high, but especially for younger people the savings from not owning a car are substantial.

I mean, that's true too. Cost is probably a reason so many people, especially younger ones, are developing these "values". But if cost is the only incentive to not drive, then the housing in a walkable neighbourhood can't be too much more expensive or that motivation disappears.

Interesting anecdote, since you brought it up: A previous workplace of mine had about 30 people, and if I recall correctly about 12-15 didn't have cars. Yet I was the only one who lived downtown (maybe one other if you really stretch the definition of downtown).

[ZEBuilder]

Nothing major has changed since the last update on the building itself, since that update they have started painting one of the three remaining sides and all the balcony glass appears to be complete. The major change to the building has been with the underground parking as it is now mostly complete all that is left is to finish the walls next to the shoring and the final pieces of the precast floor.

   

[KevinL]

This is nearly complete, the parking garage is done as is the surface lot atop it. The fencing has been removed from the site. I wouldn't be surprised to see occupancy early in the new year.

[KevinL]

 I wouldn't be surprised to see occupancy early in the new year.

Turns out I was too conservative there - I saw 'Rent Now' signs out front this morning.

[tomh009]

It's not beautiful, but it's another 100 or so housing units, so I won't complain.

[neonjoe]

^ Agreed, this fits the neighbourhood. Doesn't need to be spectacular. It's relatively close to Forest Glen Plaza and has really good transit connectivity. Hopefully the price points are somewhat affordable.