Condo Profile: 200 Bay Street

I’ve long been a fan of this building and am always happy when a client decides to purchase here. Just minutes from Parliament Hill, 200 Bay St is one of downtown Ottawa’s little known condo secrets, and continues to offer excellent value for money, something that’s becoming rarer downtown.

Built in 1984-85, this is an intimate project with only 4 well laid out units per floor (63 in total) and of a reasonable size for the Buyer looking for one bedroom, or an affordable two bedroom with a home office, or space for the occasional guest.

There is not much in the way of amenities other than an exercise room, but this helps keep the condo fees down; the previously dark hallways have been updated with new lighting, new carpeting and new wallpaper. This is a functional and unassuming building from the outside, but ideal for those who prefer to take a pass on “new” and “trendy” in favour of location and value.

That said, those looking for something chic and exclusive would be more than impressed by the penthouse at 200 Bay, truly one of Ottawa's showpiece condos offering a full panorama of the city from every window. I attended an agent open house here a few years ago and the pièce de résistance was the rooftop terrace—every agent I saw was left speechless.
 
While many owners have renovated their units, even in their original condition the layout and space of the floorplans at 200 Bay provide excellent value for money. At ~875sqft these two-bedrooms may only feature one bathroom, but come with large laundry/utility room off the kitchen as well as a walk-in closet in the master bedroom. At just over 600sqft, however, the one bedrooms are the real gems of this building, featuring 25' x 12' of combined living/dining space, a kitchen with a view, and balconies over 15ft in length.

Those living in older condo units should take note of the simple but worthwhile renovations that only enhances the value of these vintage units: removing walls between kitchen and living room; ceramic tiles and hardwood flooring; and perhaps most importantly, the floor to ceiling renovation of an older bathroom.

Modernization of 151 Bay almost done

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.