Duke Tower Kitchener | 39 fl | completed

[tomh009]

I could see if affecting rent prices if none-students start renting student units, but would anyone actually do that? As for regular rental units, the market is still tight. But if incomes are down, then I could see market price reductions, but it would be given as a subsidy of sorts. That way they could go back up to regular rates once things get bette.

I think that's exactly the most likely scenario. A landlord would likely much rather offer first four months free than discount the rent by 25% (which would effectively be permanent).

[ijmorlan]

I could see if affecting rent prices if none-students start renting student units, but would anyone actually do that? As for regular rental units, the market is still tight. But if incomes are down, then I could see market price reductions, but it would be given as a subsidy of sorts. That way they could go back up to regular rates once things get bette.

I think that's exactly the most likely scenario. A landlord would likely much rather offer first four months free than discount the rent by 25% (which would effectively be permanent).

The rules for discounts are in the Residential Tenancies Act:

https://www.ontario.ca/laws/statute/06r17#BK168

A 2% discount for prompt payment can be granted. Additionally, up to 3 months of rent-free periods in a 12-month period may be granted. These discounts do not affect the lawful rent, and therefore the increase in rent at the end of the period is enforceable.

A 25% discount would result in the “lawful rent” being the discounted amount, meaning that the allowed rent increase at the end of the period would only be the prescribed guideline increase. Well, maybe one could argue that one was giving a 1/4-month rent free period in every month of the year, but I wouldn’t bet on success.

So a landlord could give the first 3 months free (or a different 3 months, I think), and I believe you are correct that a “25% discount” would in fact be permanent.

[jeffster]

Yeah, I think this is what I recall years ago when I was a super. I imagine they could do every 3rd month free perhaps as well. I would also imagine they would have to have that in the least agreement.

Should be interesting to see if this needs to be done. I am hoping that it doesn't need to, because that means the economy is recovering.

[Momo26]

So one could do 'your first 3 months are free' and full price rent thereafter until end of tenancy, with the allowed increases at end of month 12 etc but if one gives 25% or some reduction in rent 'for first year' then the tenant can argue this is the rate and only legal increase us permitted annually?

[plam]

As for the university area of Waterloo, the impact is going to be massive. I was out with some friends yesterday, and the one lady works at the University of Waterloo, and right now they're accepting just about anyone into their programs. And as for the apartments, they are going be empty. We would be talking about thousands of empty units. And a lot of lost business for retail/restaurant in that area.

Depends on which program. Different programs do different things. But there have been more offers than usual because of the uncertainty.

[Momo26]

Are entire programs en masse virtual now? Meaning those off-site apartments/condos aren't going to be needed?

[JJTL]

Interestingly, they were unloading truckloads of drywall into the building this morning when I drove by.

[jeffster]

Interestingly, they were unloading truckloads of drywall into the building this morning when I drove by.

That's odd. Though I don't know much about this type of construction, I guess it is possible for them to start working on the lower floors as this building goes up. Though wouldn't they want windows in first? My understanding is that drywall likes to stay "dry".

[plam]

Are entire programs en masse virtual now? Meaning those off-site apartments/condos aren't going to be needed?

For Fall 2020 Waterloo's Faculty of Engineering undergrad is almost all remote. I think that's true for Faculty of Math as well. Winter 2021 decisions coming soon?

[robdrimmie]

Interestingly, they were unloading truckloads of drywall into the building this morning when I drove by.

That's odd. Though I don't know much about this type of construction, I guess it is possible for them to start working on the lower floors as this building goes up. Though wouldn't they want windows in first? My understanding is that drywall likes to stay "dry".

I know basically nothing about any type of construction, but perhaps it's not for the units themselves but for storage, utility rooms and other completely internal spaces.

[JJTL]

Interestingly, they were unloading truckloads of drywall into the building this morning when I drove by.

That's odd. Though I don't know much about this type of construction, I guess it is possible for them to start working on the lower floors as this building goes up. Though wouldn't they want windows in first? My understanding is that drywall likes to stay "dry".

Ya I was thinking the same thing, too early for drywall. It was a considerable amount, a couple trucks full of sheets.

[Momo26]

Storage wouldn't have at least some sort of metal between each unit if not concrete?

[tomh009]

Storage is typically just concrete and steel.

[Square]

The podium units have lots of sheet metal framing started and the concrete pumper is attached and they were using it today.

[jgsz]

June 30, 2020

Yesterday they brought in a mobile crane to help construct the outside elevator for the workers.  Until it's finished they still have to use ladders to go up and down.  

A pattern seems to be emerging.  They are adding floors in three stages.  The west side gets walls while the centre area gets concrete.  The east side, facing Frederick Street is usually last to build the walls and pour the concrete.  Regardless, it is fascinating to watch.