Condo boom explodes in Ottawa

[guest]

Ottawa residents need only crane their necks up to see the city is in the midst of a condominium boom. But at least one city planner says while condos are booming, new rental buildings are virtually non-existant.


New condo projects are breaking ground, going up and selling out not only in centretown but also in neighbourhoods like Westboro, Little Italy and New Edinburgh.

Stanley Wilder, the city's housing policy planner, put together a map of development for a period covering 2003-08 on the city's website.

Since then, he said many of the projects in development at the time have sold out and some are expanding.

"570 Laurier West, 120 units, those are gone, sold out," said Wilder, ticking off the list. "412 Nepean, 33 units, gone, sold...445 Laurier West...105 units sold and now re-selling."

About 20 of the 30-odd developments from that older list have been built and sold out, said Wilder, and that does not include many developments that have sprouted up since, including projects by developers like Mastercraft Starwood, Domicile and Urbandale.



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