B
building babel
Guest
Another friend bought in the co-op at 31 Rosedale Road several years ago - another small 1950's building tucked away between the mansions. If you can get in, they really are a nice alternative to condominiums.
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A
Antiloop33rpm
Guest
Co-op are tough to find and aquire, but they are really an understated alternative when it comes to living in the city. Even though Ill be renting for quite some time yet, when I do decide to own, and if it where in a city such as Toronto (Montreal doesnt seem to have a large supply of co-ops, but a condo in a triplex can often function much the same way, and are quite affordable) I would look into a co-op project. I would even consider going on building a new co-op building. Ive seen several of these projects before and done a bit of studying on them and its unfortunate that they are not easier to achieve financing for because they could work well in serving there more modest side of the middle class market.
B
borgos
Guest
Co-ops tend to be older buildings. They were devised to get around provincial legislation designed to protect the rental housing stock by prohibiting the conversion of rental apartments into condos.
B
borgos
Guest
Antiloop, I would reconsider. The few mortgagors who deal with co-ops know that they have you by the gonnads and they squeeze hard. Unless you can pay all cash, I'd go condo.
A
Antiloop33rpm
Guest
There are also a number of new co-ops that get built each year in Ontario. From the ones that Ive seen they can be a very successful given that the parties involved have made sure to educate themselves enough about all aspects of building, from finance to construction.
In terms of newer buildings, the problem with getting projects underway tends come from a lack of organization and support for the model. Contractors dont take much of an interest in them because they are either outside of there usual work and will enevitabley, take more time, effort, and result in less profit. For bigger projects that involve concrete construction, same thing applies, the companies that can do it tend to stick with larger developers where they know the work and it can be quickly and with relativly few problems.
Like I said its not for everyone but so long as Building Codes and local zoning and developer pressure stays at it is, it will be hard for anyone interested in these kinds of projects to actually see it through. And unfortunately the fact that it is not seen as a for profit investment form of housing and doesnt jive with a lot of attitudes toward home construction really puts it at an unfair dissadvantage.
In terms of newer buildings, the problem with getting projects underway tends come from a lack of organization and support for the model. Contractors dont take much of an interest in them because they are either outside of there usual work and will enevitabley, take more time, effort, and result in less profit. For bigger projects that involve concrete construction, same thing applies, the companies that can do it tend to stick with larger developers where they know the work and it can be quickly and with relativly few problems.
Like I said its not for everyone but so long as Building Codes and local zoning and developer pressure stays at it is, it will be hard for anyone interested in these kinds of projects to actually see it through. And unfortunately the fact that it is not seen as a for profit investment form of housing and doesnt jive with a lot of attitudes toward home construction really puts it at an unfair dissadvantage.
B
building babel
Guest
Though of course you don't have to build new co-ops if you can convert from existing rental stock. The Bain Street Co-Op, a couple of blocks away from where I live, is one such example. And in the early 1980's, when Cadillac Fairview got out of the rental market, those of us who lived in 50 and 70 Cambridge Avenue ( a CF building ) explored that possibility through our tennants association.
B
borgos
Guest
Antiloop, I think we're talking about different things here. Newer not-for-profit housing is often confusingly referred to as a co-op. I don't think that's what BB was referring to. In fact, co-op "owners" are free to sell their unit at a profit. By co-op, I'm referring to the ownership structure whereby all of the residents together own the building (the "fee") and each has long-term leasehold interest in their particular unit.
Regarding contractors, I don't think they care either way, as long as they get paid. Zoning by-laws and the building code are the same for condos, co-ops or apartments.
Regarding contractors, I don't think they care either way, as long as they get paid. Zoning by-laws and the building code are the same for condos, co-ops or apartments.
A
Antiloop33rpm
Guest
No I did mean co-op. Maybe not-for-profit is not the best word to use, but by it I ment that those who have formed the co-op are constructing a building whereby the end goal is to buy into a building at the actual construction and administration cost instead of buying into a condo where you pay a premium for not having been involved in the whole process, or a landlord who is ultimately building the complex as an investment.
The experiences I have had with co-op projects is that getting contractors does tend to be an issue. Since most co-op projects involve concrete construction this has made it difficult for them because with all the developer condos going up it can often be difficult to get the skilled labour you need for this part of construction. And given that form work, concrete construction is not something that many companies do because of the nature of the work, choices become really limited when you account for companies who often blow off small projects.
And yes, apartment, condo, and co-op do all fall under the residential distinction. In terms of bylaws and zoning, a lot of the problems come from a lot of issues I have with the Ontario Building Code and some local zoning authorities. Im really not up for typing up pages about it so instead of making some short, pointless comment Ill just leave the issue alone.
The experiences I have had with co-op projects is that getting contractors does tend to be an issue. Since most co-op projects involve concrete construction this has made it difficult for them because with all the developer condos going up it can often be difficult to get the skilled labour you need for this part of construction. And given that form work, concrete construction is not something that many companies do because of the nature of the work, choices become really limited when you account for companies who often blow off small projects.
And yes, apartment, condo, and co-op do all fall under the residential distinction. In terms of bylaws and zoning, a lot of the problems come from a lot of issues I have with the Ontario Building Code and some local zoning authorities. Im really not up for typing up pages about it so instead of making some short, pointless comment Ill just leave the issue alone.
B
borgos
Guest
I have no idea what you're talking about.
S
samsonyuen
Guest
It sounds neat. I'm curious as to what it will look like.
I've never heard of Craigleigh. How big is it?
I've never heard of Craigleigh. How big is it?
B
building babel
Guest
A nice little park tucked away in deepest Rosedale. It reminds me a bit of the park in the movie 'Blow Up'.