Sales City Centre Condominiums | 56 , 52 m | 15 , 14 fl

[KWrealestate]

Sorry about my lack of clarity bcwessel. I am thinking about buying a unit in the building but don't know if investment wise (whether owner-occupied or tenanted) if it is a good move based on the changes to the plans and other considerations. I have been mulling this over for months. Any thoughts?

[BuildingScout]

It seems to me that today's leak of the Facebook deal can only help the chances of this development, but then again I'm not a real estate expert, so what do I know?

[Greg Moore]

Sorry about my lack of clarity bcwessel. I am thinking about buying a unit in the building but don't know if investment wise (whether owner-occupied or tenanted) if it is a good move based on the changes to the plans and other considerations. I have been mulling this over for months. Any thoughts?

in my opinion there are better investment opportunities. I don't think sales are strong enough that this is a guaranteed build, whereas others in the region are. If it's strictly for investment purposes, I would go with something from Momentum, perhaps the Arrow Lofts, or the second building at 144 Park. you could even go for something that's already built like Kaufman.

[benjaminbach]

Just heard that City is removing one of the floors in their tower (Phase 1) and scrapping the entire 3 level side on Duke Street in favour of townhouses conods.

Following up on this, someone who has purchased at City Centre on the 6th floor posted on another forum that they were just notified by the builder that due to an amendment to the project they will now be on the 4th floor, unless they pay a premium to move back up to the 6th floor.

Conversely, one of our clients has purchased a unit at Aura, the tallest residential condo building under construction in Canada (Yonge and Gerrard in Toronto). The building has had 3 extra floors added to it, and as a result my client is being bumped up 3 floors free of charge.

[panamaniac]

Well, at least that confirms that the project isn't dead. What's the word on when they'll get shovels in the ground?

[panamaniac]

Can't find the article but the Record quoted Andrin spokesman as saying both phase one of City Centre (reduced to 15 stories with two storey podium rather than 3), and the Mayfair Hotel development will begin construction in 2012. Report indicated that 100 of what will now be 179 units have been sold.

[KWrealestate]

Yes, I heard the same thing. Construction should begin in the Fall. The Record also indicated that the second tower will have larger units as there was more of a demand for the larger two bedroom units as opposed to 1 bdrm which surprised Andrin. They indicated that it appeared alot of owner-occupied units sold.

[4Kitchener]

Is this project still moving ahead? I have heard fall of this year a couple of times now, but does any one know the groud breaking date set for the city centre and the mayfair? (the official date that is)
Havent heard too much lately on this on - considering the importance this project brings to the core.

[bcwessel]

Is this project still moving ahead? I have heard fall of this year a couple of times now, but does any one know the groud breaking date set for the city centre and the mayfair? (the official date that is)
Havent heard too much lately on this on - considering the importance this project brings to the core.

I haven't heard anything new about the status of this project, but I'm starting to rethink my previously-stated and firmly-held belief that it's the catalyst that Downtown needs. By this point, I think it's mostly clear that Downtown is revitalizing, and probably faster than most would have predicted. I no longer think Downtown's success or failure rest on the shoulders of a single development (and it likely never did). I think we might actually be seeing this project suck all the air out of the district, because it's consuming both speculative and real demand without moving toward filling it (so far).

I know that a lot of people will be very disappointed, and also probably emphatic about the doom it portends if this project fails. I think I'm coming around to thinking that it might be what's best for Downtown, at least in the short term. How many other projects might immediately come online if several hundred motivated, upmarket buyers flooded the market all at once?

[BuildingScout]

I don't think there is much to worry about. Demand for condominiums will continue to skyrocket as seniors move away from houses and young people discover the pleasures of downtown life.

[rob_929]

Are there any updates on this project?

[RangersFan]

Very quiet on "City Centre front" these days. Has anyone heard any updates?

[KWrealestate]

I have heard nothing myself. I thought groundbreaking was to happen this fall? Anyone else have an update?

[4Kitchener]

I have heard nothing myself. I thought groundbreaking was to happen this fall? Anyone else have an update?

From what the sales reps are saying... construction will begin on the first tower sometime in October or November, this will include undergroung parking and a green space. The sales center will come down after sales from the second tower are complete (i would expect late next year). Phase three now is going to be the mayfair.

[panamaniac]

From what the sales reps are saying... construction will begin on the first tower sometime in October or November, this will include undergroung parking and a green space. The sales center will come down after sales from the second tower are complete (i would expect late next year). Phase three now is going to be the mayfair.

That seems optimistic re the second tower - sales haven't started yet, have they? It will be a big relief when this one gets underway, although I'm sorry to hear that the Mayfair won't be happening along with the first tower.

[RangersFan]

As long as the project is completed as designed I will be happy. I think this project is exactly what Downtown Kitchener needs.

Does anyone know how many retail units this project contains? Is there any retail on Young or Ontario st ( I don't think so)?

[4Kitchener]

Last I heard, city centre was suppose to be breaking ground October or November? Can anyone confirm this?

[KWrealestate]

Just received an email from City Centre as I am on mailing list. It says they are 70% sold. Looks like they are trying to make a push for 80% perhaps to start construction.

"Home to some of the world’s greatest techno giants, Canada’s self-styled Silicon Valley, Kitchener Waterloo is where tomorrow’s technocrats and their families find their start and stay. With a young highly educated and sophisticated population, new LRT and civic investment, Downtown Kitchener is the place where low carrying costs and high advantages meet. Prices from the mid 200’s, Low Deposits and Free Assignment."

Looks like they are offering $5K cash incentive, home furnishing package, home theater system or smart car lease for a year as well. Some units will come with two parking units.

[519]

I was speaking to a staff at the sales centre last Saturday and she said that construction will start this year. She also mentioned the $5K incentive that KWrealestate mentioned.

For units with two parking spots, you can drop one parking and reduce the price by $XXK (I forgot the number).

[bcwessel]

I was speaking to a staff at the sales centre last Saturday and she said that construction will start this year. She also mentioned the $5K incentive that KWrealestate mentioned.

For units with two parking spots, you can drop one parking and reduce the price by $XXK (I forgot the number).

Does it strike anybody else as backwards that you have to opt out of an extra parking spot in this location to receive a rebate, rather than opt for an additional parking spot for an added cost? Does anybody know if they'll allow buyers to opt out of having a spot at all? I suspect at least some buyers either don't own a car at all, or would be happy to pay a few thousand less (gain a few thousand by selling their existing vehicle(s), and rely on walking, cycling, transit and car share instead.