After having residents cough up ~$10K per unit, the "modernization" of Park Square at 151 Bay St is almost done, including a complete overhaul of the underground parking garage. Although expensive, this is a welcome facelift for one of the grand old dames of Ottawa's condo community, built in 1978.
One of the city's original luxury addresses, this building still holds its own with comfortable, spacious units, good security, wide, inviting hallways and an excellent location in "the good part of downtown" as residents are keen to point out. A number of units have been upgraded with new kitchens, new bathrooms and hardwood flooring, and these are definitely worth checking out when they come up for sale.
And condo fees here remain surprisingly reasonable given the age, space and amenities, currently clocking in at 52—58 cents per sqft including hydro, heat and parking. (As a point of comparison, condo fees at Claridge Plaza I —built 30 years later in 2008— are anywhere from 42—50 cents per sqft, and don't include hydro.)
For sure, the shared laundry facilities on each floor are old school enough to deter many buyers, but with the average time on market 12 days for these units, clearly there are those who will take the space and quality over granite counters and stainless steel appliances.