innsertnamehere
Superstar
yes. Not many people living here yet but it is in occupancy.
- Thread starter DavidCapizzano
- Start date
Stec
Active Member
I believe I'm the 8th person to rent a unit in the building and they are currently only filling Tower A which borders King William Street. The Hughson/King St tower which is Tower B will get rented out once tower A is close to full. All residents though regardless of the tower they live in get access to all the amenities which are spread across 3 floors in both towers. Looking forward to our August move in date!
BCTed
New Member
Eight units rented sounds scary low
Stec
Active Member
That was a few weeks ago when we started the rental process it seemed like they were getting far more viewings and interest in recent visits since so I'm sure many more units are now rented. BUT this isn't a cheap building either so it's probably keeping a lot of people priced out. Hell it was at the top of our budget but we just said the hell with it because everything was so awesome here. My partner works at the LCBO though and is now on strike and this couldn't be worse timing for us ughh... things can get a bit dicey for us if this strike drags on and our rent being 1100 more a month than our current apartment we're leaving not gonna lie I'm a bit panicked right now.
BCTed
New Member
Hoping it works out for youThat was a few weeks ago when we started the rental process it seemed like they were getting far more viewings and interest in recent visits since so I'm sure many more units are now rented. BUT this isn't a cheap building either so it's probably keeping a lot of people priced out. Hell it was at the top of our budget but we just said the hell with it because everything was so awesome here. My partner works at the LCBO though and is now on strike and this couldn't be worse timing for us ughh... things can get a bit dicey for us if this strike drags on and our rent being 1100 more a month than our current apartment we're leaving not gonna lie I'm a bit panicked right now.
Chris R.
Senior Member
Definitely make sure they pay strike pay asap.That was a few weeks ago when we started the rental process it seemed like they were getting far more viewings and interest in recent visits since so I'm sure many more units are now rented. BUT this isn't a cheap building either so it's probably keeping a lot of people priced out. Hell it was at the top of our budget but we just said the hell with it because everything was so awesome here. My partner works at the LCBO though and is now on strike and this couldn't be worse timing for us ughh... things can get a bit dicey for us if this strike drags on and our rent being 1100 more a month than our current apartment we're leaving not gonna lie I'm a bit panicked right now.
Also is this at the LCBO at Jackson Square by any chance? That's my go-to after work on Friday!
Stec
Active Member
Strike pay is 250 a week ($50 a day)
the pickets will rotate only a couple stores in each city will have a picket line the others will just be closed with no activity. He works out of an Oakville store though. I hope he can get transferred back to Hamilton preferably Jackson Square so we can leave our car parked lol
Chris R.
Senior Member
Many worry about the strike pay, but don't realize it's tax free and actually not bad compared to normal rate of pay. I don't know what your partner makes, but when I striked I was earning $276/day at my job, which after tax was closer to $189. My strike pay was a bit higher than your partner's, but assuming they make similar to me, $50/day tax free isn't too bad. It's not great of course, but the strike time flies by. Plus you become so exhausted by walking all day that you don't have time or energy to go out and spend any other money.Strike pay is 250 a week ($50 a day)
TheHonestMaple
Active Member
Taken today...
Chris R.
Senior Member
Seems like they're trying to get these things filled quicker than they've been filling:
berklon
New Member
Not sure if that's a little concerning or not. Don't know if this is common with new rental buildings.
Looking at their Instagram page - I see an older post that expired at the end of June that offered to cover moving expenses up to $1,500. And previously it was the same offer + 1 month free rental.
From what I can see, this looks to be a top-notch build. In fact, to me it looks too good to be a rental. I can see people wanting to own units here.
Hopefully it starts filling up faster as the extra density will do wonders for downtown.
EDIT: Looking at their website, I can see where it's a tough sell as 1 BR units range from $1900+ up to $2,800 (750 sq. feet though).
The 2 and 3 BR units are so much more as well.
That's going to be difficult in Hamilton. They're probably hoping for more Toronto transplants.
Looking at their Instagram page - I see an older post that expired at the end of June that offered to cover moving expenses up to $1,500. And previously it was the same offer + 1 month free rental.
From what I can see, this looks to be a top-notch build. In fact, to me it looks too good to be a rental. I can see people wanting to own units here.
Hopefully it starts filling up faster as the extra density will do wonders for downtown.
EDIT: Looking at their website, I can see where it's a tough sell as 1 BR units range from $1900+ up to $2,800 (750 sq. feet though).
The 2 and 3 BR units are so much more as well.
That's going to be difficult in Hamilton. They're probably hoping for more Toronto transplants.
Chris R.
Senior Member
I'm honestly curious why these new rental towers don't temporarily lower the rents and then after a year or two increase by 5% or 10% instead of just charging market rents day 1. That's what I would do. Perhaps they want to avoid the PR nightmare that might be tenants complaining about increasing rents more than inflation, and by doing it this way they can say "well you signed on to the price, with a 2 month discount." It essentially is the same thing as if you amortize the savings over the first year it's actually quite a substantial monthly decrease. Over the 12 month first year that's $320 less per month.
Chronamut
Active Member
perhaps they need the money to pay the costs of the building and thus need it to sell at the rates they are charging. Or perhaps they need the money to start the next project.
berklon
New Member
The law of supply and demand will take effect either way. If they have troubles renting out a substantial amount of units at their current pricing - then they'll have no choice but to drop the price.
Getting some money is better than no money.