Burlington 1989 Condominium | ?m | 22s | Latch | RAW Design

[Bojaxs]

What's the likelihood that the developer will change course and opt to turn this building into purpose rental instead of a condominium?

No one is buying pre-con, 1 bedroom units in 2025.

 

[ojloaf]

What's the likelihood that the developer will change course and opt to turn this building into purpose rental instead of a condominium?

No one is buying pre-con, 1 bedroom units in 2025.

I think its the only practical way forward for the foreseeable future. I think if the rental/landlord laws were more friendly in Ontario then this would have happened a lot sooner .. but build proper 2 & 3 bedroom condos like they used to and have those for sale and the 1 + 1's and 1s can be mostly rentals - but of course they would leave the purchase option open for a portion as well.

 

[elibroftw]

I don't think this is getting built without some serious price concessions. Not sure why price is so high considering Burlington has one of the lowest developer charges in the GTA.

 

[ojloaf]

I don't think this is getting built without some serious price concessions. Not sure why price is so high considering Burlington has one of the lowest developer charges in the GTA.

The excessive marketing (desperate convincing really) that Latch does to sell this area as some amazing pocket of suburbia is pretty funny. I don't think they're fooling anyone

 

[ben.thebean1]

Project has been canceled, not enough units sold. Rumour has it the 2 and 3 bedroom units were mostly sold but the 1 bedroom units that make up the vast majority of the towers just weren't sellable at the price they were asking. People who want to live here don't want tiny shoebox units, and demand for rentals is low.