U/C Sage Condos

[HankRearden]

New Condo Project - Name??

We need your help. A local developer is planning a new condo project in the university area and would like to engage the community for help in naming the project. It is proposed as a 12 storey building with mixed use commercial at the ground floor. A majority of the units are 3 bedrooms and the penthouses are 2 storey lofts with private terraces. The ceilings will be a full 9 feet and each unit will have a balcony. Units will be generously sized and finishing will be dramatically upgrades from typical apartment buildings in the area.

We are looking for a name and a theme that fits the area and use. Any thoughts?

[ViewFromThe42]

That sounds good so far. Curious what the target demographic is, if there are any mixed-retail goals (compare BPR's goal of a bakery to the reality of Waterloo Networking), what amenities are planned, if this is a buy-live or buy-rent condo. Or maybe I just want to be too clever with names.

[HankRearden]

Owners will likely be a mix of buy-to-rent and buy-to-live. A combination of cash flow investors and young professionals/grad students. No goals yet for the mix-use commercial but light food services would make a lot of sense. Amenities will include a panoramic glass enclosed exercise facility on the second floor and a party/theatre room. The goal is to include some good amenities but keep the condo fees down for investors.

[WatDot]

Sounds like an exciting project. Really keen on the ground floor commercial mix.
A word that comes to mind is "proper" but not really a great project name...

[WaterlooNative]

What about tying the name to the street on which it will be built (ie Hickory Hall, Larch Lofts etc). Or using the name of one of the original property owners in the vicinity (Cressman Commons). Or maybe, depending on its proximity to Laurier, something with an academic ring to it.

[BuildingScout]

This might be a cultural thing, but I general dislike made up building names. Here's how most of them sound to me:

The Pretentious
The Continental (queue in Christopher Walken offering "champagna")
The Trying-to-tie-it-to-something-it-has-no-relation-to
The Grand-Run-of-The-Mill Condos

Exceptions are made for those named after actual valid geographic features, like the Seagram Lofts or the Kaufman lofts. They would be called that even if the developer hadn't named them thus.

If there is no such connection I prefer non-descript names like The42, The Red Condominiums.

I would put more emphasis on having the right design, unit mix and construction materials and then the name would quickly become a synonym with quality, with the42 being a good example of that.

[WatDot]

Looks interesting. Ground floor retail:

[benjaminbach]

This building is planned to have 3 and 5 bedroom condos for sale; the vision is to rent the units to students, with investors owning individual condos.

I was told today that I will have pricing information within a few weeks if you're interested.

[ViewFromThe42]

On one hand, it has some three bedroom units, is higher density than some of the three floor buildings around, isn't completely copy/paste from previous developments, has mixed use, and is on the edge of Northdale (leaving more flexibility for the relatively open optioned center of Northdale).

On the other hand, it has (likely many) five bedroom units, is less dense than the last student-oriented condo that fell through nearby (45 degrees on King), is fairly similar in look to most student developments, takes the first real mixed use of any student living and puts it next to the already amenity-filled King/University intersection and area, and continues the great wall of student living that surrounds Northdale.

So yes, a bit torn.

[benjaminbach]

[markster]

That "Corner cafe" interestingly enough, would be at the corner of Spruce and Hickory, and would become the closest amenity for a fair number of residents of both streets.

[Lugnut]

Great looking project, but still ruined by the fact that its for students only. Why can't there be just regular apartments? If students happen to rent all of the units so be it.

[benjaminbach]

Great looking project, but still ruined by the fact that its for students only. Why can't there be just regular apartments? If students happen to rent all of the units so be it.

I've never heard of any of the off campus student housing buildings actively discriminating against non students by not renting to them. Generally, because of the unit configurations, when & where they're advertised, rates and locations, students fill the buildings up.

If three non student friends - or five non student friends depending on the unit - wanted to rent here and pay the asking rates, I don't imagine an investor refusing them tenancy.

[panamaniac]

I've never heard of any of the off campus student housing buildings actively discriminating against non students by not renting to them. Generally, because of the unit configurations, when & where they're advertised, rates and locations, students fill the buildings up.

If three non student friends - or five non student friends depending on the unit - wanted to rent here and pay the asking rates, I don't imagine an investor refusing them tenancy.

I imagine "for the asking rates" would be the key - these places rent out at a considerable premium, do they not?

[Lugnut]

I've never heard of any of the off campus student housing buildings actively discriminating against non students by not renting to them. Generally, because of the unit configurations, when & where they're advertised, rates and locations, students fill the buildings up.

If three non student friends - or five non student friends depending on the unit - wanted to rent here and pay the asking rates, I don't imagine an investor refusing them tenancy.

Can you honestly say to me that you think that anyone other than students would rent a 5 bedroom unit?

This isn't appealing to most people.

[KevinL]

Wow, how did they get a mixed-use proposal on the table in Waterloo? Someone must have patience and/or friends in high places...

[WaterlooNative]

Can you honestly say to me that you think that anyone other than students would rent a 5 bedroom unit?

This isn't appealing to most people.

A bedroom is only a bedroom if there is a sleeping surface in it. More than a few 'bedrooms' are converted to other uses. Alternately, depending on the size of the bedrooms, families with young infants/kids might find it appealing.

That being said, I'm not sure how many people require an en suite next to their office/library/study/whatever.

[WatDot]

The project looks good IMO.
Need to remember that these are business people investing in a development and they seek a return. Although the not "ideal" project for a well-rounded community this is the start towards one. I think the community would be better served by a diverse population, not simply students, but the market demands student housing in this area. This project will bring the returns investors seek. It has ground floor retail (not on a major road), attention towards aesthetics (I assume it will truly be majority brick and glass, not stucco) and a mix of 3/5 bedrooms. It's a step in the right direction... a better direction.

[Lugnut]

The project looks good IMO.
Need to remember that these are business people investing in a development and they seek a return. Although the not "ideal" project for a well-rounded community this is the start towards one. I think the community would be better served by a diverse population, not simply students, but the market demands student housing in this area. This project will bring the returns investors seek. It has ground floor retail (not on a major road), attention towards aesthetics (I assume it will truly be majority brick and glass, not stucco) and a mix of 3/5 bedrooms. It's a step in the right direction... a better direction.

Ya, let me be clear, I don't blame the developers at all. If I had the money, I'd do the same thing as it's a fantastic return on investment. I blame the city planners for letting this happen.

I understand that the market says that students want to live there, my only thing is what if someone other than students want to live in this neighborhood, where do THEY live? There really aren't options. If employment in this area increases then people other than students will want to live there.