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Bell Centre development area - Multiple towers to be built by 2015

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07-17-2012, 11:40 AM
  #1
HH
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Bell Centre development area - Multiple towers to be built by 2015

We all know about la Tour des Canadiens being built where the Centennial Plaza is located, but 4 more towers will be built near the Bell Centre by 2015.

The big parking lot facing the arena will house 3 new towers. The towers will be condos, restaurants, shopping mall and a luxurious hotel.

The Roccabella - 2 towers

http://roccabella.ca/

L'Avenue - 1 tower

http://f.tlcollect.com/fr2/312/50036...r.pdf?x=855222

There will also be another tower that will house office building of Deloitte right behind the Bell Centre.

http://www.skyscrapercity.com/showthread.php?p=93283600

It's about time Montreal started building some new towers, especially near the Bell Centre, where the area was quite lacking in this department.

Bell Centre will look totally different in 3 years!

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07-17-2012, 12:07 PM
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Originalsix
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Is anyone else worried that there are way too many condo's sprouting up all over the island of Montreal?

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07-17-2012, 12:14 PM
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Is anyone else worried that there are way too many condo's sprouting up all over the island of Montreal?
No.

It's about time Montreal gets a building boom. That area needed it badly and will now connect St-Catherines street to the Bell Centre IMO.

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07-17-2012, 12:16 PM
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Is anyone else worried that there are way too many condo's sprouting up all over the island of Montreal?
Its the same everywere. Its a big market but I'm afraid its going to get saturated (especially in suburban areas ).. Not everyone wants to buy a condo. Meanwhile scarce any appartment buildings are being constructed.

These Bell Center condos are amazing however. Imagine living there with season tickets..

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07-17-2012, 12:17 PM
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No.

It's about time Montreal gets a building boom. That area needed it badly and will now connect St-Catherines street to the Bell Centre IMO.
We'll see how that works 10-15 years from now when all the baby boomers are in retirement homes and/or dead... The market on houses and condos is gonna crash... hard.

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07-17-2012, 12:18 PM
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Poulet Kostopoulos
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Is anyone else worried that there are way too many condo's sprouting up all over the island of Montreal?
I always wonder where all the people buying these ultra-high-end condos are coming from. If it's some foreign "investors", then I am worried. I don't want Montreal to be a Vancouver.

Yeah, I'm happy that Montreal has its own "building boom" but it has to be sustainable. Another referendum and these volatile foreign investors may flee...


Last edited by Poulet Kostopoulos: 07-17-2012 at 12:23 PM.
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07-17-2012, 12:18 PM
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We'll see how that works 10-15 years from now when all the baby boomers are in retirement homes and/or dead... The market on houses and condos is gonna crash... hard.
It's the same everywhere though. All baby boomers will die at some point.

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07-17-2012, 12:20 PM
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250k for a 350 ft² condo is ridiculous.

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07-17-2012, 12:21 PM
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250k for a 350 ft² condo is ridiculous.
I would pay for it if I finish my life alone.

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07-17-2012, 12:23 PM
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queue de cheval is moving onto de la montagne street

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07-17-2012, 12:28 PM
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We'll see how that works 10-15 years from now when all the baby boomers are in retirement homes and/or dead... The market on houses and condos is gonna crash... hard.
Thing is, babyboomers won't be in retirement homes in 10-15 years. In fact some are still going to be working.

By definition the oldest baby boomers are currently 67 years old while the youngests are 37. They are not really close to filling retirement homes, especially since these are filled with the older generation and they don't particularily want to go play bingo with them so they're going to stay home as long as they can. Advances in healthcare mean this is postponed relative to aforementionned older generation.

There are currently huge investments in retirement homes (some of them quite luxurious) and I believe its bound to failure. Baby boomers thrive liberty, they won't go close themselves up in glorified prisons until they are literally forced to.


Last edited by Crimson Skorpion: 07-17-2012 at 07:47 PM.
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07-17-2012, 12:37 PM
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The problem I'm fearing is the banks giving loans for mortgages for these places, especially for newly graduated students etc. Then economy starts to tank, people can't pay for those mortgages, and bam we have a housing crash here where home values are already inflated.

Anyways, I love my hometown, I wish it prospers.

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07-17-2012, 12:37 PM
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These Bell Center condos are amazing however. Imagine living there with season tickets..
That's pretty cool but it also probably cost a fortune to buy one of those condos.

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07-17-2012, 12:40 PM
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Heh, Montreal needs more affordable apartments than condos, but if people can afford it without getting a 50 year mortgage, good on them.

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07-17-2012, 12:41 PM
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Hoping here I get hired by Deloitte this September.

(All the Big 4 firms take their employees to games in the luxury boxes, sometimes give free tickets seasonally)

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07-17-2012, 12:43 PM
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It will also make Montreal look nicer. Way nicer. Never a bad thing.

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07-17-2012, 12:44 PM
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Heh, Montreal needs more affordable apartments than condos, but if people can afford it without getting a 50 year mortgage, good on them.
I think they're passing legislation to make government insured mortgages no longer than 25 years now. Down from 30 and previously 35.

Also, I know several real estate agents who if you don't have the salary to back up a mortgage application, will (for a fee) make fake pay forms etc to show income from other sources so they application would get approved. It's **** like that scares me, and I wonder how prevalent it is in the industry.

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07-17-2012, 12:48 PM
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Hoping here I get hired by Deloitte this September.

(All the Big 4 firms take their employees to games in the luxury boxes, sometimes give free tickets seasonally)
My bro who works for them says they wanted the new and nice building so they can better retain their employees. lol

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07-17-2012, 01:04 PM
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I'm all for new condo buildings but I would like to see more commercial buildings. You need more companies setting up here, who will then create jobs for people that can eventually buy condos. That is sustainable growth.

I'm worried to see these condo towers emerging everywhere combined with companies leaving the city for greener pasture and Montreal unemployement being at an all-time high. Like someone else said, who's buying these places?

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07-17-2012, 01:05 PM
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Originally Posted by ThaDevilGirl View Post
Heh, Montreal needs more affordable apartments than condos, but if people can afford it without getting a 50 year mortgage, good on them.
Sadly because of current legislation its not really advantageous to build apartment blocks so cheaper accomodation is likely to get worse and worse.. Theres a gap there, growing, but no one can take advantage of it.

Meanwhile contractors usually build condos until the market is completely stagnated. Its going to take a long while in Montreal because of the size of that market. I come from a very small town (Nicolet, around 7000pop) and they are currently building like crazy, the impact is visible much sooner. My dad knows this market well since he's owned properties for decade and he's currently fleeing the place. The contractors just build and build and build like mad there since they can't anymore in Trois Rivieres. Like fish that eat all they can until they die basically.


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07-17-2012, 01:42 PM
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250k for a 350 ft² condo is ridiculous.
What is a 350sq.ft.room a jail cell it sounds like,that might fly in Tokyo but in NA?So for a 1400sqft it's a million that's a one bedroom condo with a nice size kitchen,living&dining room & bathroom&ensuite bath I assume?Do they give a priority for season tickets.lol


Last edited by S Bah: 07-17-2012 at 02:02 PM.
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07-17-2012, 04:06 PM
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Probably a good move, the area around and to the east of the Bell Centre has been stagnant for a long time.

Probably will be overpriced and lack character but there's plenty of areas in Montreal for that.

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07-17-2012, 04:22 PM
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Originally Posted by Poulet Kostopoulos View Post
I always wonder where all the people buying these ultra-high-end condos are coming from. If it's some foreign "investors", then I am worried. I don't want Montreal to be a Vancouver.

Yeah, I'm happy that Montreal has its own "building boom" but it has to be sustainable. Another referendum and these volatile foreign investors may flee...
It is foreigners. Canada is a highly desirable place to be and there's 100,000s of millionaires trying to get in. The govt just froze the immigrant investor program (which fast tracks millionaires in) everywhere but Quebec for 6 months so they could deal with a huge backlog and streamline it going forward.

There is TONS of money lined up to get into Canada to support this real estate, and as the rest of the world turns to crap, its not gonna slow down anytime soon. People are really beating at the doors to get into the few primo places that are clean, economically sound and stable politically, Canada is on the short list with countries like Australia, New Zealand, Switzerland, Singapore, Norway, Sweden (note - all relatively small countries).

NOT a political statement, just neutral facts of the reality. Step back from the local politics for a minute, cuz in the worldwide picture Canada is relatively in GREAT SHAPE and lots of millionaires from a place like China are lined up to get out of the smogsoup of Beijing and live a nice clean place like Brossard cuz they see a better future here and for their kids than in China.

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07-17-2012, 04:27 PM
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The real estate market prices keep on going up. I mean the cheapest condo you can buy now is near 200k, and that's not even a 4 1/2.

We have low mortgage rates ATM, but who knows what the rates will look like in 3-5 years. Imagine it goes up? your mortgage will go up!

Let's not forget that condo fees will most likely also go up, gas prices, food, etc

200k for a condo...I remember 10 years ago when you can buy a freaking house for 150k.

Times are hard man...

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07-17-2012, 04:31 PM
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Quote:
Originally Posted by Burke the Legend View Post
It is foreigners. Canada is a highly desirable place to be and there's 100,000s of millionaires trying to get in. The govt just froze the immigrant investor program (which fast tracks millionaires in) everywhere but Quebec for 6 months so they could deal with a huge backlog and streamline it going forward.

There is TONS of money lined up to get into Canada to support this real estate, and as the rest of the world turns to crap, its not gonna slow down anytime soon. People are really beating at the doors to get into the few primo places that are clean, economically sound and stable politically, Canada is on the short list with countries like Australia, New Zealand, Switzerland, Singapore, Norway, Sweden (note - all relatively small countries).

NOT a political statement, just neutral facts of the reality. Step back from the local politics for a minute, cuz in the worldwide picture Canada is relatively in GREAT SHAPE and lots of millionaires from a place like China are lined up to get out of the smogsoup of Beijing and live a nice clean place like Brossard cuz they see a better future here and for their kids than in China.
Lol yeah brossard...that's where I live and let me tell you that there is just more and more asians that move into my neighbourhood. Plus the Dix30 is not helping because it's increasing the value of Brossard's real estate with all these new projects they're working on.

My parents bought our house about 10-13 years ago and the price doubled.

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