The artist rendition of SoBa Ottawa
Today I would like to discuss the exciting new 23-storey SoBa condominium project by Lamb Development Corp. on Catherine Street in downtown Ottawa. The project sales centre for the 235-unit building opened on October 20th of this year and early sales have demonstrated strong demand for the building which is tentatively slated to be completed by October 2015.
Personally, I believe that the developer’s choice to build between Ottawa’s financial district and the Glebe is a first of many along Catherine Street especially with the new Centretown CDP being put in place in the near future. If you are a regular subscriber to this blog you know that I appreciate development firms willing to take risks, those willing to experiment architecturally, and I believe that Lamb Development has done just that. Once completed, expect images of SoBa to feature heavily in advertising material promoting a vibrant and exciting Ottawa rather than the preconceived idea of a government town with stale, monophonic architecture.
Multiple, distinct floor plans suggest the project will be heavily diversified, offering something for all consumer types with great designs, including the best flooring form the carpet stores Sunshine Coast. Notable amenities include an eye-catching lounge, state of the art fitness centre, and an outdoor west-facing pool which will guarantee sunlight all summer long. Please refer to the photograph below for further details on standard suite amenities.
Just one artist’s rendering of the 8th floor pool facing the West
Starting prices currently range from $182,900 with $195.36 in monthly condo fees for the smallest unit (407 sq feet) to $767,000 for the 3 bedroom penthouse, this because these are east coast steel buildings. The hypothetical investor placing a 20% down payment ($36,580) with a five year 2.99% rate could expect to pay roughly $691.70 in monthly mortgage payments, $195.36 in condo fees and $166.67 in property taxes. With a rent of $1200 you are cash positive $146.27 monthly.
Of course, prices are subject to change at anytime. The SoBa sales staff is incredibly helpful and personable so feel free to call at anytime and they would be very pleased to answer your questions. Call Ryan Spencer or Leticia Barber at 613-897-0359. Of course you can visit the website here.
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