Real Estate

Ottawa and Surrounding Area Real Estate market discussion

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  • Jan 22nd, 2021 10:50 pm
Deal Addict
May 23, 2017
1033 posts
819 upvotes
canabiz wrote: I don't dispute any of your point but I wonder if these 850 interested parties are all from Kanata/Ottawa or whether a portion of them are from out of town (e.g. Toronto) and/or investors.
It could be people from out of town but I feel like investors are very unlikely to buy large million dollar homes in Ottawa (just a very poor buy from an investing standpoint).

I even feel that out-of-town people are likely to be a minority because the precon houses take a couple of years to build, most people moving to another city are likely to buy resale so they can move in right away. It's possible there are people planning way in advance, but I'd think the more likely scenario is that most of these applicants do indeed currently live in/around Ottawa and are wanting to upsize.
Member
Nov 10, 2014
398 posts
555 upvotes
Ottawa, ON
@welcomelm Thanks for the update. I thought even 400 emails were nuts given the price point.
I'm not doubting the validity of your statement at all, but could we get a source for the info? I am wondering how to find these kind of information.

If you were Uniform and saw 1000 emails for a 7 unit release, what would you price your next release at? We will soon see lots on sale starting well in the 7 figures. Given Uniform's RR pricing and Minto's Orleans pricing, I am guessing the largest lots (43') for Minto Arcadia release in January will start around a mil as well.
Last edited by Tadalafil on Dec 15th, 2020 3:20 pm, edited 2 times in total.
Deal Guru
User avatar
Jun 28, 2003
10220 posts
3299 upvotes
Ottawa
jk9088 wrote: It could be people from out of town but I feel like investors are very unlikely to buy large million dollar homes in Ottawa (just a very poor buy from an investing standpoint).

I even feel that out-of-town people are likely to be a minority because the precon houses take a couple of years to build, most people moving to another city are likely to buy resale so they can move in right away. It's possible there are people planning way in advance, but I'd think the more likely scenario is that most of these applicants do indeed currently live in/around Ottawa and are wanting to upsize.
I guess I should qualify my statement about *investors* to include foreign buyers (and I don't know what % of houses in Ottawa is owned by foreign buyers and/or their agents). People who want to *park* their $ in Canada and don't necessarily need to worry about cash flow or even appreciation, for that matter.
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Deal Addict
May 23, 2017
1033 posts
819 upvotes
canabiz wrote: I guess I should qualify my statement about *investors* to include foreign buyers (and I don't know what % of houses in Ottawa is owned by foreign buyers and/or their agents). People who want to *park* their $ in Canada and don't necessarily need to worry about cash flow or even appreciation, for that matter.
I still think it's unlikely, Ottawa barely registers on the radar of foreign buyers. And I still think if foreign buyers wanted to park a million dollars somewhere in Canada without worrying about appreciation, they would be more likely to opt for a luxury condo in Toronto (no maintenance) than try to enter a "lottery" for a huge home with maintenance headaches in obscure (on the global stage) Kanata.
Member
Nov 10, 2014
398 posts
555 upvotes
Ottawa, ON
I woadered off to Building Homes forum to see if there were discussions about the Richardson Ridge sale. No luck there, but I did find this...
http://www.buildinghomes.ca/community/f ... 3e&t=24802

'No, it is regarding Richardson Ridge, phase 1, built by Uniform Developments.
There are many grading and surface water issues remaining and the City does not want to address them even though phase 1 was assumed in October.

What gives?
Last edited by Tadalafil on Dec 15th, 2020 3:56 pm, edited 1 time in total.
Member
Nov 10, 2014
398 posts
555 upvotes
Ottawa, ON
I remember a discussion a while back on this thread about why Ottawa was so much more affordable than the center of the universe.

One explanation offered was that Ottawa residents, with it being a government town, were so much more fiscally conservative. Something about Ottawans not wanting to buy to the max of mortgaged qualifications or be house poor. I thought at the time that it is being more "fiscally conservative" than Torontonians is easy when the same house costs far less than half of what it would cost in Toronto.

Now on the brink of having 7 figure suburban homes, the verdict is in. People in Ottawa are just as prone to speculating and FOMO chasing as residents of any other cities.

Maybe we can even flip the previous thesis: Ottawa, being a government town, has a large percentage of the population that can spend a bigger chunk of their income on housing than other cities. Public service jobs offer far better job security than private jobs on average, and the generous pension is literally back stopped by the existence of Canada as we know it. Without having to worry about job loss or saving for retirement, public service workers are probably in the best position to YOLO hard for some real estate gains.
Jr. Member
Oct 22, 2007
174 posts
37 upvotes
Ottawa
cloak wrote: Is that area prone to flooding? Seems like they are raising it quite a bit above the surrounding land. (could just be the angles I am seeing though)
There's a reason why it's called "Richardson Ridge". The area is the highest level in Kanata.
Member
May 6, 2012
369 posts
218 upvotes
KANATA
Tadalafil wrote: @welcomelm Thanks for the update. I thought even 400 emails were nuts given the price point.
I'm not doubting the validity of your statement at all, but could we get a source for the info? I am wondering how to find these kind of information.

If you were Uniform and saw 1000 emails for a 7 unit release, what would you price your next release at? We will soon see lots on sale starting well in the 7 figures. Given Uniform's RR pricing and Minto's Orleans pricing, I am guessing the largest lots (43') for Minto Arcadia release in January will start around a mil as well.
I heard it from an agent who has a group that specializes precons. 2 of his guys got picked for this release and that is how he knew.
Jr. Member
Oct 22, 2007
174 posts
37 upvotes
Ottawa
Tadalafil wrote: I woadered off to Building Homes forum to see if there were discussions about the Richardson Ridge sale. No luck there, but I did find this...
http://www.buildinghomes.ca/community/f ... 3e&t=24802

'No, it is regarding Richardson Ridge, phase 1, built by Uniform Developments.
There are many grading and surface water issues remaining and the City does not want to address them even though phase 1 was assumed in October.

What gives?
Hmm, I didn't hear anything about surface water issues from neighbours. Maybe some houses or streets have issues, though. Here's the old Phase maps from Cardel.

http://www.cardelhomes.com/_pdfs/ottawa ... phase1.pdf

Current and new Phase 4 is in higher than phase 1,2,3 and the last one. Cardel & Braebury will release their lots early spring next year.
Deal Addict
May 23, 2017
1033 posts
819 upvotes
Tadalafil wrote: I wondered off to Building Homes forum to see if there were discussions about the Richardson Ridge sale. No luck there, but I did find this...
http://www.buildinghomes.ca/community/f ... 3e&t=24802

'No, it is regarding Richardson Ridge, phase 1, built by Uniform Developments.
There are many grading and surface water issues remaining and the City does not want to address them even though phase 1 was assumed in October.

What gives?
Yeah I saw that thread too awhile back...wasn't sure what to make of it since it's just one homeowner talking about issues and they're kind of vague about what the problem is. Maybe it's isolated to just that one house?

I'm surprised that Uniform (considered one of the best builders in Ottawa) would drop the ball on this. I'd definitely want to look into it more if I were interested in buying there though.

FWIW, I recall reading about minor flooding/water pooling issues on streets in various parts of Kanata after heavy rainfalls, including Beaverbrook, Glen Cairn, Bridlewood, Morgan's Grant, etc. For all the flack that Arcadia is getting for being built on swampy land, I don't seem to hear of any flooding issues. IMO, as long as the land is built up properly before laying the foundations, proper sewage infrastructure and grading in neighbourhoods are far more important when it comes to making sure water drains properly from the streets. I imagine most new developments should have this part taken care of properly (the areas with water buildup issues seem to mostly be somewhat older neighbourhoods).
Jr. Member
Oct 22, 2007
174 posts
37 upvotes
Ottawa
Tadalafil wrote: I remember a discussion a while back on this thread about why Ottawa was so much more affordable than the center of the universe.

One explanation offered was that Ottawa residents, with it being a government town, were so much more fiscally conservative. Something about Ottawans not wanting to buy to the max of mortgaged qualifications or be house poor. I thought at the time that it is being more "fiscally conservative" than Torontonians is easy when the same house costs far less than half of what it would cost in Toronto.

Now on the brink of having 7 figure suburban homes, the verdict is in. People in Ottawa are just as prone to speculating and FOMO chasing as residents of any other cities.

Maybe we can even flip the previous thesis: Ottawa, being a government town, has a large percentage of the population that can spend a bigger chunk of their income on housing than other cities. Public service jobs offer far better job security than private jobs on average, and the generous pension is literally back stopped by the existence of Canada as we know it. Without having to worry about job loss or saving for retirement, public service workers are probably in the best position to YOLO hard for some real estate gains.
And, most high tech engineers working for big tech companies in Kanata are buying new 7 figure homes with their double income which is $200k ~ $300k per year.
Deal Addict
Sep 2, 2009
1277 posts
934 upvotes
Ottawa
rosemere21 wrote: There's a reason why it's called "Richardson Ridge". The area is the highest level in Kanata.
But that does not mean that flooding can't happen under certain conditions like ice blockage, poor flow, negative slope, etc... if the ridge goes up before or goes down.

But I don't know enough about that particular area -hence the question.
Jr. Member
Oct 22, 2007
174 posts
37 upvotes
Ottawa
cloak wrote: But that does not mean that flooding can't happen under certain conditions like ice blockage, poor flow, negative slope, etc... if the ridge goes up before or goes down.

But I don't know enough about that particular area -hence the question.
There might be some isolated grading issues in any communities, causing surface water problem with heavy rainfall.

Here's old article when RR was first released;
"Richardson Ridge is perched up high in Kanata and is definitely all about the “ridge” which includes exposed portions of the Cambrian Granite Shield. With views worth talking about, the lots in this subdivision offer interesting topography and landscape. Sitting up on Kanata’s highest point, Richardson Ridge has views of the Gatineau Hills, the Canadian Tire Centre (formerly Scotiabank Place) and even all the way downtown. You won’t find any flat, boring road patterns in this subdivision either. The terrain contributes to the variety as does the fact that there are three builders developing this project and their respective lots are inter-mixed throughout the site. So it all combines to provide streetscapes that are interesting and appealing. Parks and plenty of trees will also help to define this subdivision."
Jr. Member
Oct 22, 2007
174 posts
37 upvotes
Ottawa
The other interesting history of RR and KNL development area in Kanata North:

"Significantly, 10,000 year-old Algonquin artifacts, burial mounds and archaeological sites have also been found in the area. The City of Ottawa has requested that KNL delay cutting until the Archaeological Studies have been reviewed. KNL is in discussions with the Algonquins of Ontario. However, despite this, the Ottawa Citizen reported that KNL has “made no promise to delay tree-cutting on the Beaver Pond site.” On Sunday, January 16, Council of Canadians water campaigner Emma Lui attended a Sacred Fire Ceremony at Beaver Pond. The mood was somber as over 100 people surrounded the fire to hear Chiefs and Elders speak about the importance of protecting Ottawa’s Great Forest. Speakers included Ardoch Chiefs Mireille Lapointe and Paula Sherman, Ottawa Chief Paul Lamothe, Kinounchepirini Chief Grant Tysick, and Elder Robert Lovelace, past-Chief from Ardoch."

So, the whole site (RR & KNL) was burial mounds for Indigenous people, like First Nations, Algonquin for many many years.

So, we have decided that we are not buying a house in that area, because we're too much afraid of ghosts and spirits. (JK)
Member
Nov 1, 2020
240 posts
121 upvotes
dont people bother going uphill down hill half time of the year with snow? I was visting my friend in RR two years ago found that's abit dangerous tbh.
Jr. Member
Mar 1, 2016
186 posts
109 upvotes
MikeMOON2 wrote: dont people bother going uphill down hill half time of the year with snow? I was visting my friend in RR two years ago found that's abit dangerous tbh.
If you think it’s bad now, you should have tried it back when Richardson continued straight up the hill by the old Stone House into Kanata Lakes (before Terry Fox crossed it). I remember coming down there once in my youth watching a Dodge Caravan in my rear view mirror doing pirouettes down the hill. He somehow kept it on the road, though. Driving around there these days makes me feel old!
Member
Nov 10, 2006
221 posts
14 upvotes
Does anyone know what is minto’s deposit structure is for their Manotick Mahogany project ?

I.e initial deposit, subsequent milestone projects deposits.

Just trying to gauge how much $ is required before mortgage closing is available.
Deal Addict
Jul 7, 2007
1145 posts
728 upvotes
rosemere21 wrote: There's a reason why it's called "Richardson Ridge". The area is the highest level in Kanata.
The 47' lots by uniform are only 105m above sea level according to the topography map. (Ketchikan Crescent is 98-111m). My house in Fernbank Crossing comparatively is 103m above sea level. If you go north of the 47' lots, the highest point is 114m on Blanding street.

I'm keeping my options open to purchase a lot in the higher area.

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