Elevate Condos (1333 Weber St E) | 15, 15, 12 & 12 fl | U/C

[catarctica]

I can’t believe non downtown condo commands the price of 350K plus now. Then again downtown condo used to be 200K.

[jeffster]

Have pre sales started...

They appear to have started last month. I got a not-very-VIP email today with the info. The link points here:
https://condosdirect.net/elevate-condos-...t+for-sale

Prices start at $360K (1BR with 600 sqft); 2BR with 1000 sqft is $585K. Not many 2BR units available.

That's crazy.

How is it the housing is so insanely expensive? I suppose low interest rates is one reason, but still.

[plam]

That's crazy.

How is it the housing is so insanely expensive?  I suppose low interest rates is one reason, but still.

A common question throughout the Western world. In some places there are more obvious explanations than others. But we don't know the general answer I think.

It is actually a big deal right now in NZ for instance.

[neonjoe]

They appear to have started last month. I got a not-very-VIP email today with the info. The link points here:
https://condosdirect.net/elevate-condos-...t+for-sale

Prices start at $360K (1BR with 600 sqft); 2BR with 1000 sqft is $585K. Not many 2BR units available.

That's crazy.

How is it the housing is so insanely expensive?  I suppose low interest rates is one reason, but still.

I think there is a lot of interest in KW right now for people moving from the GTA. Every single house that has changed hands on my street this year has cars with the dealer frame on the plate from the 905 area. Unless there are amazing car deals in Mississauga and Brampton I thing there’s some migration. I would estimate that there’s a large number of listing agents with GTA phone numbers on their signs here too. 
Demand is driving prices up and selling in the GTA gives those buyers more flexibility to outbid on listings.

[ijmorlan]

That's crazy.

How is it the housing is so insanely expensive?  I suppose low interest rates is one reason, but still.

A common question throughout the Western world. In some places there are more obvious explanations than others. But we don't know the general answer I think.

It is actually a big deal right now in NZ for instance.

We’re used to being able to sprawl cheap suburbs out to infinity. But as this process continues, it imposes a large and constantly-growing maintenance burden, which is beginning to bite. Also we’ve finally noticed that on the whole it would be better if Southern Ontario wasn’t one huge city from Stratford to Cobourg and Niagara Falls to Barrie; so rural areas are more restricted in development than previously.

Meanwhile zoning forbids densifying most of the city. I’m thinking of Toronto, which is now exporting some of their demand here, but it’s probably true in almost every Canadian city. When I say “densifying”, I’m not (primarily) referring to huge towers but to simple, almost invisible, changes like replacing a single-family home with a triplex of 3 apartments stacked on one another.

So basically, cheap spread out construction isn’t actually that cheap in the long term when all costs are taken into account; and cheap dense construction isn’t allowed.

[tomh009]

A common question throughout the Western world. In some places there are more obvious explanations than others. But we don't know the general answer I think.

It is actually a big deal right now in NZ for instance.

We’re used to being able to sprawl cheap suburbs out to infinity. But as this process continues, it imposes a large and constantly-growing maintenance burden, which is beginning to bite. Also we’ve finally noticed that on the whole it would be better if Southern Ontario wasn’t one huge city from Stratford to Cobourg and Niagara Falls to Barrie; so rural areas are more restricted in development than previously.

Meanwhile zoning forbids densifying most of the city. I’m thinking of Toronto, which is now exporting some of their demand here, but it’s probably true in almost every Canadian city. When I say “densifying”, I’m not (primarily) referring to huge towers but to simple, almost invisible, changes like replacing a single-family home with a triplex of 3 apartments stacked on one another.

So basically, cheap spread out construction isn’t actually that cheap in the long term when all costs are taken into account; and cheap dense construction isn’t allowed.

Zoning restrictions are a significant factor. Duplex/triplex conversions and granny flats would take off some pressure, and allowing low- or mid-rise apartments would do more so. The big condo/apartment buildings do add a lot of units each, but there are not so many of those projects in the end.

[white_brian]

Crews are on site with a bunch of equipment. They were pulling up the asphalt along the highway

[jeffster]

I guess it's getting close to spring, start the dig, shore it up, start the project.

I am hoping that those two lovely motels down the street don't suffer the same fate. Would be sad if something happened to the Knights Inn.

[jordan2423]

I am hoping that those two lovely motels down the street don't suffer the same fate. Would be sad if something happened to the Knights Inn.

You’re kidding right?

i hope those two motels down the street get pummelled flat so they can make way for some new developments

[Rainrider22]

I dont want to speak out of turn but I will. I am quite confident he was utilizing sarcasm!!

[white_brian]

Pile driver setup. Some excavation along Fergus Ave

[Lebronj23]

This is under construction now

[Spokes]

Did any updated renders ever pop up?

[Bjays93]

Did any updated renders ever pop up?

The original renders are posted on billboards by the site. I give there using those on site for advertising I'd imagine this hasn't changed much from what we originally saw. If at all.

[ac3r]

They've got this excavated below grade now. I'm expecting construction will really speed up over the spring and summer.

Edit: And should this be moved to suburban development? While this project is going up in an older part of the city, it's still 5+ kilometers from downtown. It's nearly as far away as Breslau or the Boardwalk.