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Locations aside, Arrow Lofts is (in my opinion) probably the nicest condo building in Kitchener at the moment. This may change as new buildings are completed, but for now I have not found anything else comparable.
In Waterloo, Bauer and 144 Park are pretty nice, but I have not been inside RED, for example. Seagram Lofts is getting older but it still a premium building, to be sure.
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I seem to recall that Watermark Place off Erb St was also a high end building, although it's now a bit dated.
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(01-17-2019, 06:40 PM)panamaniac Wrote: I seem to recall that Watermark Place off Erb St was also a high end building, although it's now a bit dated.
Right. Waterpark Place was a nice building, but now over 30 years old. Has it had a thorough renovation yet?
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(01-17-2019, 06:42 PM)tomh009 Wrote: (01-17-2019, 06:40 PM)panamaniac Wrote: I seem to recall that Watermark Place off Erb St was also a high end building, although it's now a bit dated.
Right. Waterpark Place was a nice building, but now over 30 years old. Has it had a thorough renovation yet?
We visited a unit there 11 years ago when looking for real estate and already thought it was dated back then. Also the demographic was pretty mis-aligned with what we were hoping for (say empty-nesters...) though that may align more with the demographic at some of the other high-end condo places.
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(01-17-2019, 07:44 PM)plam Wrote: (01-17-2019, 06:42 PM)tomh009 Wrote: Right. Waterpark Place was a nice building, but now over 30 years old. Has it had a thorough renovation yet?
We visited a unit there 11 years ago when looking for real estate and already thought it was dated back then. Also the demographic was pretty mis-aligned with what we were hoping for (say empty-nesters...) though that may align more with the demographic at some of the other high-end condo places.
Arrow Lofts is mostly 50+, but it does have its share of tech folks and other younger people. The older demographic will naturally come with the higher prices, though: not many millennials will be looking for $400K+ condos, at least not in Kitchener.
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01-18-2019, 02:18 AM
(This post was last modified: 01-18-2019, 02:20 AM by taylortbb.)
(01-17-2019, 10:17 PM)tomh009 Wrote: not many millennials will be looking for $400K+ condos, at least not in Kitchener.
I'm not convinced that's true anymore. Tech salaries have risen quite significantly in the past few years. Any software dev at Shopify or one of the big American companies ( with local offices) is able to buy a $400k+ property. That's a thousand+ millennials that are in KW and potentially in that market. Many will prefer to rent, but that just means investors will buy the $400k condos and rent them to techies.
Obviously it takes time for these people to move into the market, so I'm not disputing what you see now at Arrow, but I think the buildings currently in approval / construction phases are going to skew much younger than the current buildings.
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Often it really comes down the street level (a friend living in the core of downtown Toronto tells me), so the difference in demographics between let's say those in the new 100 Condos essentially across the street from the Innovation District/Communitech could be considerably different than those in Arrow Lofts/Barra at Queen etc., despite all of these projects being located in 'DTK'.
From what I can tell the units at Arrow I were also considerably larger than typical condos you seeing being built now and by virtue of greater square footage (in a similarly appointed unit) would fetch higher sale and resale value, thus perhaps playing to the point of attracting a slightly older, more established clientele (a la empty nesters who just sold their detached for over $800k).
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I just received a notice that a Waterpark penthouse will be coming on the market shortly for $1.2 million, so someone must think that they place is worth something. I expect that Waterpark in the midst of a turnover of the final first residents moving out, and new residents moving in who want an high-rise unit that is solidly built and spacious relative to other recent shoe boxes in the sky.
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Wow. That's not where I expected to see $1 million units thats for sure.
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It's called Waterpark? I can't find it on Google for obvious reasons, can someone linked the building website (if they have one), address or details/general pics?
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Thanks!
Just to be clear, does one get the entire floor for $1.2 million or less than a full floor? :-D
I could see how back-in-the-day that would have been considered 'higher end' and depending on the individual unit upkeep, some units may feel luxurious...but those common areas look hella outdated to me...re: brown/traditional baseboards (no offence to anyone who still has them - I grew up with these!), lackluster, carpeted fitness center (I know, even new condos don't come with a Movadi inspired gym) and paneling.
In my mind, if I had a choice and was bringing $400 - 500k to drop on a 2bedroom, I'd be looking at the new(er) condos/under-construction and even pre-sales [if time was not a factor]. Just IMO.
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It all depends on what you value. $400K bought a little over 1000 sqft at the DTK Condos, as I recall. Is it more luxurious than Arrow Lofts, for example, where the same money might get you a 30% bigger unit? Waterpark Place is older yet (with somewhat higher condo fees) and the same money will get you an even bigger unit -- and a swimming pool.
It all depends on what you want to get for your money.
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(01-18-2019, 11:25 AM)Spokes Wrote: Wow. That's not where I expected to see $1 million units thats for sure.
Some of the units in that building are absolutely MASSIVE. The views high up are also spectacular. If it has been renovated, I could see a top tier unit fetching that amount.
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I'd be curious to know the monthly condo fees are in Waterpark place...
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