Minto@lans​downe sells half of condos in first week

Minto’s Lansdowne Park condo development is off to a roaring start, seeing sales numbers that have been scarce in the city for some time.

At least 50 per cent of the Minto@lansdowne units in the two towers – The Rideau and Vibe – have been sold barely a week after its official opening Nov. 18, says Catherine Shea, vice-president of marketing and sales.

“We’ve had a really, really good run on everything,” she said Tuesday, adding that the response puts Minto in good shape to start construction next spring.
Real estate analyst Ron Desjardins is not surprised.

“It’s one of the best locations in the entire City of Ottawa right now,” says the vice-president of PMA Brethour Realty Group. “You’re in the heart of the Glebe; you’re going to be part of a dynamic major redevelopment; if you work downtown, it’s an easy walk along the canal.”

But location aside, he adds that “in what has been a tighter market for new home sales this year, their success there is phenomenal.”

   
 

Part of that is due to the unusually large priority registration list of more than 3,000 that Minto had for the project. “I would say (it’s) by far the highest number of priority registration that the Ottawa condo market has seen,” certainly in recent years, Brethour says. Having such a large list to start from meant that much of the sales were already in place even before the official opening, allowing Min-to to have about double the number of typical pre-sales for a condo tower launch.

Minto The Rideau, a 159-unit, 20-storey tower fronting Bank Street near the Queen Elizabeth Driveway, and Vibe, a 79-suite, 13-storey building at the corner of Bank and Holmwood Avenue. Units in the two buildings range from $293,900 to more than $1.3 million for penthouse units. The Rideau also features condominium townhouses at ground level.

The buildings, in addition to their location amid Lansdowne Park’s promised cornucopia of new retail, entertainment and sports attractions, will offer such amenities as rooftop terraces, exercise facilities, a private dining room and lounges. The Rideau will include a luxurious stadium sports lounge for residents to watch Ottawa’s new CFL team and other events. And both buildings will target LEED gold certification in keeping with Minto’s commitment to sustainable design and building practices.

Minto will release more condo towns and terrace homes at the site next year.
Shea notes that buyers, who are a mix of single professionals, investors and downsizers, have been attracted to all the unit types, with those facing the football field and the Rideau Canal selling out first.

“It’s going to be a very exciting place to live with all the energy that’s going to go on in and around the buildings and the entertainment and retailers … I’m anxious for next year now to see it all come together.”

Source: Ottawa Citizen

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