Downtown London Ontario Condominiums Downtown London Ontario
Downtown London Ontario is rapidly changing as the place to live in London, from those downsizing and moving to London and the young, vibrant tech employers and their savvy associates.
The construction of apartment buildings and planned development is at an all-time high, and new restaurants and eclectic shops sprouting up are giving the city quite a vibe. The city has added bike lanes, a flex street along with underground sewer and water upgrades. Retailers are back to retailing; the dining and bar scene is vibrant with a wide array of venues.
London may be a smaller city, but we have Covent Garden Market, Budweiser Gardens & the Grand Theatre for events, shows and with trendy Richmond Row, the city parks, walking and biking trails and of course, the Thames River to keep everyone active.
Tech companies are expanding rapidly, taking over some of the older buildings and jazzing them up and with startups looking for unique office space.
Here are a select few apartment condominium buildings in downtown London, Ontario:
- 323 Colborne St
- 363 Colborne St
- 389 Dundas Street London Towers
- 19 King St
- 250 Pall Mall St
- 7 Picton Place
- 330 Ridout St N
- 695 Richmond St
- 600 Talbot Street
Smart Condo Buyers Do This & Usually Live Happily Ever After
Many condo buyers do very little research before “diving in” and investing their hard-earned money. Oh, they may have been going to ‘ builder’s showrooms,’ ‘open houses,’ searching MLS or viewing realtor websites or glossy magazines (that are a month old) and that is usually all they do, but there is more that could be done.
Below are a few ideas and with the help of the right real estate professional, (ask them these 11 questions first)you’ll make a good sound investment.
Inspect, Review and Double Check:
For apartment condos, you may not need a home inspection ( 76% of the time no need) or do the inspection yourself because the windows, doors, roof etc. are covered by the condo corporation. Turn on all the appliances, the heat or A/C, all lights, flush the toilets and run all the taps in the house and check electrical switches and receptacles.
Have your lawyer review the Status Certificate which will cover the by-laws and fees, restrictions and the financial status of the condo corporation.
Don’t take anything for granted, inspect everything!
Imagine the unit vacant:
Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.
Income plus Lifestyle Equals Mortgage Payment:
Your income level and present living expenses may be excellent today but take into account future considerations like job security or transfer, lifestyle, amenities or fix-ups.
View More Than One Building or Neighbourhood:
Go through at least 4-6 properties. Don’t get excited on the first property you see, if you like it, use it as a yardstick and if the others do not compare, act quickly. With a patient, professional Realtor, you’ll be able to view enough properties to get a great overall perspective of the market. And when you find the right property, all the leg work will be worth it.
Utilize The Professionals You Are Working With:
By aligning yourself with the right real estate professional, you’ll have an entire group of professionals working for you. Top Realtors have lenders, inspectors, appraisers, lawyers, tradespeople, cleaners, an entire group of trained professionals making the whole buying experience simple and easy for you.
More Checking to Do:
Check out all your costs and expense before you sign: condo fees, utilities, cable, taxes and insurance. Make sure all services are on (gas, electricity, and water) when you do see the unit, so you can inspect everything is in working order, Ask lots of questions and be very detail conscious. (I use a detailed room by room review manual with every client, it covers everything)
Do a Final Walk-Through Before Closing:
Visit the property 2-3 days with your Realtor before you move in to make sure there are no surprises. Be sure the appliances, fixtures and any chattels are still there as you had agreed upon when the offer was accepted. Many times, things are unintentionally overlooked that could have been spotted in a final walk-through. (This is a standard clause in my Agreement of Purchase and Sale)
Plan for Flexibility if Needed:
Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction; however, with a great real estate professional and his/her teams, this will seldom occur.
If it’s Not in Writing, It Doesn’t Exist:
All promises and discussions are to be in writing. Don’t make any assumptions or believe any assurances from anyone. Even the best intentions can be misinterpreted. Have your real estate professional keep an ongoing log (in writing) of all discussions, and get the seller’s written approval for all agreements.
I could imitate Hemmingway or Faust and tell you about another 61 things to think about, but I will leave you with the following:
If you had an advantage over other buyers when looking to buy or sell a condo in London Ontario, be it time, money, exposure or experience, would it be worth 15 minutes of your time to learn about it?
Contact us or call 519-435-1800
Downtown London Ontario Highrise Apartment Buildings Being Built Or Planned
Rezoning: It means the city will allow the developer to build on that site.
Site Plan: A proposal from the developer on how the development will be built, considered the final major hurdle before construction, necessary to get a building permit.
505 Talbot St.
- Tricar Group
- 29-storey, 200-unit luxury condo named Azure
- Status: Complete
515 Richmond St.
- Old Oak Properties
- 32-storeys, 175-units.
- Status: Under construction.
40 York St.
- Tricar Group
- 24 storeys, 212 units
- Status: Under construction
131 King St.
- York Developments
- 30-storeys, 266 units
- Status: Approved by the city council. No site plan.
809 Dundas St.
- Paramount Inc.
- Twin, 24-storey towers, 480 units
- Will offer 25 affordable housing units for 25 years,
- Status: Approved by the city council. No site plan.
147-149 Wellington St.
- Jam Properties Inc.
- 18-storey residential building
- 0.44 hectares
- Rezoned. No site plan.
195 Dundas St.
- Danforth London Ltd.
- Former London Mews at King and Clarence streets
- $300-million, three-tower development
- 700 units
- The first tower: A 25-storey, 140-unit tower at 195 Dundas is the beginning of the three planned highrises.
- Status: Rezoned. A site plan application has been submitted.
391 South Street
- Medallion Corp.
- 19 and 23 storeys proposed for the SoHo area on the site of the former Victoria Hospital lands
- The first phase of a proposed multi-phase development
- About 600 units.
- Status: Zoning approved. No site plan.
479-489 Talbot St.
- Rygar Properties
- $300 million, 700-units.
- A nine-storey building flanked by towers of 38 and 29 stories between Fullarton street and Dufferin Avenue.
- On the site of the former Camden Terrace
- Status: Rezoned. There is a site plan application.
661 and 667 Talbot St.
- Drewlo Holdings
- 16-storeys, 236-units
- Locust Mount Estate site.
- Status: Rezoned. No site plan application.
560-562 Wellington Street
- Auburn Developments
- 22-storey tower, 151 units
- Wellington Street at Wolfe Street, across from Victoria Park.
- Status: City staff recommended denying the application. It has been referred back to staff.
96 Ridout St. S.
- Tricar Group
- 22-storey, 191 units.
- Status: Zoning approved. No site plan application.
455 Clarence St.
- Landowner George Anastasiadis
- 32-storey, 182-units.
- Status: Rezoned. No site plan.
183 King St.
- Southside Group
- 25-storey, 200-units.
- Status: No zoning approved. No site plan. A dispute over building demolition.
50 King St.
- Middlesex County
- 30-storey, 200-units.
- Status: Rezoned. No site plan.
Mid-size in the core
Richmond and York
- 36 unit apartment, on site of former New Yorker cinema
- For Youth Opportunities Unlimited (YOU)
- Status: Site plan is in, YOU is still fundraising
356 Dundas St.
- 69 affordable housing units
- Status: Under construction
The London Free Press reported the above on Saturday, November 24, 2018, here is the article