The Barrel Yards | 25 fl | U/C

[tomh009]

Looks like that new Delta sign on Erb St W is about to change. Marriott expanding in Canada with purchase of Delta hotel brand

Under the agreement, the U.S. hotel chain will take over the management and franchise operations for the 38 Delta hotels and resorts including 10,000 rooms across Canada... Marriott says it plans to integrate the Delta hotels into its systems, loyalty program and website.

Marriott may well keep it as a separate brand, they already have 20-ish brands (depends on how you count) so one more would not be a big deal.  But we'll see once the deal closes.

[tomh009]

Marriott may well keep it as a separate brand, they already have 20-ish brands (depends on how you count) so one more would not be a big deal.  But we'll see once the deal closes.

Following up on my own post ...

(Marriott's executive vice president of mergers and acquisitions Rick Hoffman) said the company does not anticipate changing any Delta hotels into Marriott locations, but will extend its Marriott rewards platform to Delta properties.

http://www.thestar.com/business/tech_new...hotel.html

[scamander24]

[Waterlooer]

Nice photos! I'd love to live in these condos.

[panamaniac]

Rental apartments.

[tomh009]

Rental apartments.

They could still be nice to live in ... and rents are relatively low compared to real estate prices.
http://www.bloomberg.com/news/articles/2...tsche-bank

[BuildingScout]

They could still be nice to live in ... and rents are relatively low compared to real estate prices.
http://www.bloomberg.com/news/articles/2...tsche-bank

Not these apartments.  A good 40% more than comparable high end buildings in the region.

[Viewfromthe42]

Whatever you peg the premium to be, being walkable to UpTown and LRT, as well as UW, overlooking the park from a street quieter than most in the core, all that and more will generate some kind of premium.

[BuildingScout]

Sure, they deserve some premium, but it is presently too high, since they are not moving. They are already offering one month free right off the bat.

[panamaniac]

They will also hold units for months if you are not ready to move in right away.

[Drake]

I called a few months back. A 2 bedroom 1500 ft2 unit on the 20th floor was $3600/month. That is a $650k+ mortgage.

I could rent a place on Victoria St S and employ 2 men to carry me or perhaps buy a rickshaw and employ one man full time to run me around Uptown. There are potentially a lot of units in those 4 towers. I am not sure the demand will be there at the prices they are asking.

[tomh009]

I called a few months back. A 2 bedroom 1500 ft2 unit on the 20th floor was $3600/month. That is a $650k+ mortgage.

Certainly not cheap, and possibly pricing themselves out of the market.  But a 1500 sq ft penthouse in One Victoria will also cost over $700K.  And on top of that mortgage payment you'll need to pay property taxes ($300-400/month?) and condo fees.

And I do think the Barrelyards location should be more valuable.

[Drake]

Here is a link for a 1344 ft2 2bedroom for $2200 a month. When I previously quoted the 20th floor, it was my memory that the 20th was not the top floor. It was the lowest floor of the 'upper' units where the sizes and layouts became more exciting.


For a hoot, I have included a picture from Auburn's site advertising the Barrel Yards. This would be me living there. Shoeless, no furniture; only a typewriter and a piece of paper to my name -- But I would have a great apartment!

[tomh009]

Here is a link for a 1344 ft2 2bedroom for $2200 a month. When I previously quoted the 20th floor, it was my memory that the 20th was not the top floor. It was the lowest floor of the 'upper' units where the sizes and layouts became more exciting.

At One Victoria, the top two floors were "penthouses" as well, with larger units.  The $700K was from the lower penthouse floor.

[BuildingScout]

This development is now advertising in the radio. I think they would be better off canning the radio spots and applying that money towards lower rents.

I think they really misread the market with four towers at those prices. They are offering 1 month free on a 13 month contract. They should be thinking 3 months free on a 15 month contract.