Stec said:
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. :eek:
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Hoping it works out for you
 
Stec said:
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. :eek:
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Definitely make sure they pay strike pay asap.

Also is this at the LCBO at Jackson Square by any chance? That's my go-to after work on Friday!
 
Chris R. said:
Definitely make sure they pay strike pay asap.

Also is this at the LCBO at Jackson Square by any chance? That's my go-to after work on Friday!
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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
 
Stec said:
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
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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.
 
Taken today...

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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.
 
berklon said:
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.
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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.
 
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.
 
Chronamut said:
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.
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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.
 
berklon said:
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.
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They probably assumed people would be willing to spend more money since it is right in the gore. Some will sure, but not as many as they probably thought.
 
Hopefully this whole thing gets some momentum. If not, there is a decent chance that Hamilton's downtown growth will sputter out for a good while.
 
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