Hampton Park Lofts enjoys lofty sales
Patrick Langston, Ottawa Citizen
Published on: July 29, 2014, Last Updated: July 31, 2014 9:05 AM EDT
Condo market slump? Not at Hampton Park Lofts, a revamped project by Ottawa’s Surface Developments where 50 per cent of the units sold within four days of opening a couple of weeks ago. By the time of writing, that number had jumped to 67 per cent.
The 18-unit condominium near Kirkwood Avenue and the Queensway replaces Junction, a stacked townhome project that the company launched earlier this year.
Sales at Hampton Park Lofts fly in the face of overall condo sales in Ottawa, which have slipped from 22 per cent of the market during the first six months of 2013 to 18 per cent for the same period this year, according to industry analyst PMA Brethour Realty Group.
“We kind of hit our target,” says Surface Developments president Jakub Ulak. “People are coming (into the sales centre) just to get information but once they see the quality of the finishes and the design, they’re buying right away.”
While pleased at the sales boom, he doesn’t seem surprised. “When you take so much time and care, you approach it optimistically.”
Units at Hampton Park Lofts start at $179,990 for a 480-square-foot unit with one bedroom — or at least they did until the smallest condo was sold — and top out at $349,990 for a 1,016-square-foot, two-bedroom apartment (again, until it was sold). Standard features include floor-to-ceiling windows, in-floor heating in the bathrooms, and granite countertops.
The building, which should be ready for occupancy in August 2015, is three and a half storeys with a contemporary exterior and an elevator.
Buyers range from young first-timers to downsizers.
Ulak says he scrapped his plans for Junction when Maria McRae, councillor for River Ward, objected to it following complaints from area residents (McRae was not available for comment). Because the lot is narrow and long, the main doors of the townhomes would have faced neighbouring yards — an invasion of privacy, neighbours felt.
Ulak’s site plan control application was turned down and, rather than going to the expense and time of an Ontario Municipal Board hearing, he simply started over.
The new project has a single main door fronting Thames Street.
The site plan control application for the new project is now before the city.
When he revamped the building, Ulak also scrapped the incentive he’d dangled in front of prospective buyers at Junction: a free subcompact car for every purchaser of a townhome.
“We said, ‘We’re redesigning the product so let’s put our money into the units instead and upgrade everything possible.”
Judging from sales at Hampton Park Lofts, that suits buyers just fine.
Hampton Park Lofts
What: 18-unit condominium near Kirkwood Avenue and The Queensway
Builder: Surface Developments
Prices: Starting at $179,990 for a 480-square-foot, one-bedroom. Condo fees are 25 cents a square foot. Parking is either $19,900 (surface for select units) or $27,900 (three covered).
Sales centre: 211a Melrose Ave.; by appointment only
Information: 613-233-4210; hamptonparklofts.com
http://ottawacitizen.com/life/homes/condos/hampton-park-lofts-enjoys-lofty-sales
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