All eyes are now on Charlesfort as they get set to launch their latest project, curiously being billed as The Merit.
A site plan application was filed with the City earlier this month for the development of a 20-storey condo on Lisgar St directly behind City Hall. Floorplans will be available online as of tomorrow, Friday January 28th at 5pm. Pricing is expected to be in the range of $450 to $575 per square feet, parking not included.
In yet another departure for Charlesfort condos, this project will be leasing ground level retail space, The Continental being the only other Charlesfort building to feature what is considered a negative in some buyers' books.
Being located just a block off Elgin St and minutes from both the Canal and The Market, the immediate assumption is that sales will be brisk from the get go. But Charlesfort condos are anything but cheap and Ottawa buyers have had their real estate budgets pushed to the limit over the past few years. Given that sales have been slower than expected at other so-called hot locations such as Tribeca and 131 Holland, it will be very interesting to see how sales at The Merit unfold.