Collingwoodbuildinglover
Active Member
Hey as somebody who has to maintain all of those hotel rooms the $2 a square foot maintenance fee is a steal for what happens to those rooms ![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
You’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?Hey as somebody who has to maintain all of those hotel rooms the $2 a square foot maintenance fee is a steal for what happens to those rooms![]()
From what I know you would not have the maintenance fees you would just have your condo courp fees In that caseYou’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?
It’s even worse if they’re targeting investorsThey are not targeting people that want vacation properties, they are targeting investors.
A starting price of $600,000 at 300 sqft is beyond insane, especially given that you can currently get double the square footage at almost half that price in the Village right now with local condo values in active decline. I personally still think the prices of the existing units themselves are crazy, especially once you include the close to $2/sqft maintenance fees. Hard to say to what degree there will be appetite for buyers in the current environment, especially for people that just want a vacation spot. In my opinion, the current stock of condos offers a better deal than this development.
Yeah I’m not too surprised either. I’m curious to see if they still got approved for the height increase for blocks E & F. I’m assuming not, but I feel like the height wouldn’t be as imposing for that location compared to block B at the front of the villageIt also doesn't surprise me that this got chopped It is very anti height up in this area like getting a four-story condo approved is like pulling teeth it took residences at silver Creek over 6 years to get approval for three four story buildings in Collingwood and nothing has been built four stories or taller in the Blue mountain area since the village
All properties pay the 2% of purchase price entry fee (if you’re in the village core) and $1psf annual fee regardless if you’re in the rental pool or not (which isn’t too bad). If you’re in the rental pool then they remove 1% village amenity fee from the gross rental revenue you earnYou’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?
See I am wondering the same thing especially since these are the last major parcels that can be developed in the village so the loss of height is an actual permanent drawback though I could see in the next 10 years the existing hotels being demolished for larger buildings as they are very much starting to show their age internallyYeah I’m not too surprised either. I’m curious to see if they still got approved for the height increase for blocks E & F. I’m assuming not, but I feel like the height wouldn’t be as imposing for that location compared to block B at the front of the village