90 George | 64m | 19 fl | Completed - Page 12

YOWetal · #**221** Posted **Jun 17, 2013, 12:19 PM**

Quote:

Originally Posted by Boxster

It is surprising CANRIL has not converted the HUGE terrasse that is currently available to residents only to commercial use. I can just imagine what could be done up there given its size.

A developer can make a lot of changes before and during construction, but they are no longer the owner of the terrace so the condo board would be the sole decision maker on a sale or whatever of the area.

JackBauer24 · #**222** Posted **Jun 17, 2013, 2:22 PM**

Quote:

Originally Posted by Boxster

It is surprising CANRIL has not converted the HUGE terrasse that is currently available to residents only to commercial use. I can just imagine what could be done up there given its size.

Part of the original plan was to have a restaurant on the 3rd floor and part of the terrace was to be included with the restaurant. This, along with many, many, many original features, have been changed.

YOWetal · #**223** Posted **Jun 17, 2013, 2:53 PM**

Quote:

Originally Posted by JackBauer24

Part of the original plan was to have a restaurant on the 3rd floor and part of the terrace was to be included with the restaurant. This, along with many, many, many original features, have been changed.

Developer promises on the tenants should always be taken with a grain of salt. I would be surprised if (any) all the promised supermarkets appear on the ground floor of the Centretown condo towers.

Boxster · #**224** Posted **Jun 17, 2013, 4:28 PM**

WOW - One two bedroom corner unit just sold!!! Only eight of those to go.

JackBauer24 · #**225** Posted **Jun 17, 2013, 4:46 PM**

Quote:

Originally Posted by YOWetal

Developer promises on the tenants should always be taken with a grain of salt. I would be surprised if (any) all the promised supermarkets appear on the ground floor of the Centretown condo towers.

I'm assuming you're referring to Tribeca - or is there another Centretown condo with a proposed grocery store in the works? Either way, based on all the development in downtown/Centretown, there is a HUGE need for another grocery store - Hartman's simply isn't going to cut it. I'd be pretty surprised if that promise wasn't fulfilled.

But you are right, the majority of different or out of the box ideas initially promised by Vendors are seldom adopted, but that's not necessarily the fault of the builder. In my old condo building, once a few self-serving condo board members were voted on to the board, many of the original aspects and features of the condo that made it unique were changed to a cheaper alternative or removed completely. Builders are becoming aware of this and are now taking measures to make sure that their original concepts are protected - usually in the form of multiple condo board within the same building (a common practice for many of the downtown Toronto and Vancouver condos).

Boxster · #**226** Posted **Jul 25, 2013, 3:50 PM**

This is it!!! The final sell-out.

Last dich effort. If this does not do it, nothing will.

Floor plan 05...close to $200K off highest price ever asked.

http://www.90george.com/

chailinchou · #**227** Posted **Aug 24, 2013, 4:12 PM**

Hi All,

I just moved in to Ottawa from Vancouver and am looking to buy a condo. Came across this private sale unit at 90 George with very nice interior upgrades (kitchen, cabinet, backboard, bathroom, closet, etc). I've posted some pictures and the previous listing of the unit when it was put on the market in 2011. Can I get some opinion on whether you guys think this is a reasonable deal at 452K? Your input is much appreciated. I estimate the renovation cost is around 40K.

photo hosting sites

Harley613 · #**228** Posted **Aug 24, 2013, 4:17 PM**

nice market view! price seems a little steep for a one bed...i think you could get a 1+den or even a 2 bed at that price in Ottawa..

theoldv · #**229** Posted **Aug 24, 2013, 7:30 PM**

very nice upgrades, based on the description they were done prior to the 2011 sale.. what are current condo fees and property taxes? have they changed much?

since you're new to the city have you considered renting for a year to see exactly what part of town you want to live in? the condo market here appears to be very much a buyers market and i can't see that changing for a while.

chailinchou · #**230** Posted **Aug 25, 2013, 7:35 PM**

I'll be here for 5 years and I figure the sooner I buy a place, the less rent I'll pay. I've looked at the higher-end 1+ or 2 BR places in downtown and they seem to go for around $600K, and not with the same level of reno. I think the unit looks beautiful and it definitely comes at a premium. The question I guess is will I risk losing if I buy at 450K now and have to sell in 5 years?

chailinchou · #**231** Posted **Aug 25, 2013, 7:36 PM**

Fee is $650/month, and tax is $4300 annually.

theoldv · #**232** Posted **Aug 26, 2013, 1:26 AM**

Quote:

Originally Posted by chailinchou

Fee is $650/month, and tax is $4300 annually.

wow condo fees up 33% in 2 years.

agreed that the the renovations are great. you won't find many condos done like this one. is this a realtor exclusive listing? is there an option to rent?

trhgr · #**233** Posted **Aug 26, 2013, 3:04 AM**

Quote:

Originally Posted by chailinchou

I'll be here for 5 years and I figure the sooner I buy a place, the less rent I'll pay. I've looked at the higher-end 1+ or 2 BR places in downtown and they seem to go for around $600K, and not with the same level of reno. I think the unit looks beautiful and it definitely comes at a premium. The question I guess is will I risk losing if I buy at 450K now and have to sell in 5 years?

Aren't condo fees high for a 1 bedroom? What's the square footage of this unit?

OTSkyline · #**234** Posted **Aug 26, 2013, 12:32 PM**

My personal opinion?

-Good building
-Good location
-Very nice unit

BUT

-Pricey! (I've been looking for 1 beds and you can get many between 200-300K
-Condo Fees through the roof (650$/month for a 1 bed?, that's insane! New builds usually have condo fees around 250-350$/month for these units).
-Amenities? I doubt this building has a pool or anything right? Prob just a gym?

At the end of the day it's up to you but I think you could get another one just a nice and save 75K off asking price AND a couple of hundred dollars a month on fees.

trhgr · #**235** Posted **Aug 26, 2013, 1:03 PM**

Quote:

Originally Posted by OTSkyline

My personal opinion?

-Good building
-Good location
-Very nice unit

BUT

-Pricey! (I've been looking for 1 beds and you can get many between 200-300K
-Condo Fees through the roof (650$/month for a 1 bed?, that's insane! New builds usually have condo fees around 250-350$/month for these units).
-Amenities? I doubt this building has a pool or anything right? Prob just a gym?

At the end of the day it's up to you but I think you could get another one just a nice and save 75K off asking price AND a couple of hundred dollars a month on fees.

I don't think there's a pool, so it makes the condo fees very high and that may be a tough sell ($1000 per month with taxes).
You could buy a larger unit in an older building for less, then do cosmetic renovations (paint the walls, add nice engineered flooring and couple of nice fixtures nothing extremely expensive) to have add a "high end" feeling to it. The extra square footage you may get will be an easier sell.

nredding · #**236** Posted **Aug 26, 2013, 1:24 PM**

Quote:

I'll be here for 5 years and I figure the sooner I buy a place, the less rent I'll pay.

The condo fees plus taxes are about $1,000 per month. You can rent a 1-bed in downtown Ottawa for not much more than that. Adding in the land transfer tax when you buy and realtor commission when you sell, I don't think buying for a 5-year stay is likely to be worthwhile.

Boxster · #**237** Posted **Aug 26, 2013, 2:53 PM**

Nice condo, however check the new VIU building which is currently under construction. Occupancy date starting in October.

Its facing the marina across the Alexandria bridge. Minutes to walk to the market.

They have very nice one bedrooms with extensive floor to ceiling windows, 9 ft ceilings...about 30 ft long on the outside. large balconies of 200 sq ft. Extenzo ceiling available which is one of a kind.....for about $330K including parking. Go see their model suite. Very nice...

Boxster · #**238** Posted **Aug 26, 2013, 2:56 PM**

Quote:

Originally Posted by chailinchou

I'll be here for 5 years and I figure the sooner I buy a place, the less rent I'll pay. I've looked at the higher-end 1+ or 2 BR places in downtown and they seem to go for around $600K, and not with the same level of reno. I think the unit looks beautiful and it definitely comes at a premium. The question I guess is will I risk losing if I buy at 450K now and have to sell in 5 years?

Look on the 90george.com site.

They are still trying to sell 9 units...one of which is a studio.

The developper had and still has big problems.

theoldv · #**239** Posted **Aug 26, 2013, 3:30 PM**

Quote:

Originally Posted by nredding

The condo fees plus taxes are about $1,000 per month. You can rent a 1-bed in downtown Ottawa for not much more than that. Adding in the land transfer tax when you buy and realtor commission when you sell, I don't think buying for a 5-year stay is likely to be worthwhile.

you arn't getting a 1br the calibre of that unit or of even a standard 1br 90 george cablire unit for 1k/month. it would be closer to 2k/month..

theoldv · #**240** Posted **Aug 26, 2013, 3:39 PM**

since you have an agent, have him/her pull up all the listings and sales for the higher end condo buildings in the city.. look at how many listings expired, how many actually sold and how long they took. i'm willing to be that the numbers are not particularly pretty.

the buildings are 90 george, 700 sussex and some of the big ones $1m+ ones on the canal.. maybe metropole too..

the overall condos inventory number is not very good right now and there's tons more condos coming online..

i personally think a 5 year timeframe for a condo is a horrible idea.