It seems obvious in hindsight, but only now are investors paying attention to the condos in downtown Ottawa that residents are eagerly looking for. For quite some time now, a lot of attention has been given to neighborhoods that are close to the downtown areas, such as Beacon Hill North, Nepean, and Westboro. Finally, real estate investors realized that if such properties are prized for their proximity to the downtown area, then there would be a great demand for properties in the downtown area itself.
Of course, the reasons for why people want to live there are many and varied. But here are some of the more commonly cited reasons cited by residents:
1. You’re nearer to your place of work. This is, after all, the Central Business District. It is the economic and commercial center of the whole city. It’s more likely that your office building is here, and so you won’t have to worry about getting to work on time. With the right condo, you can even walk leisurely to your workplace.
2. If you live here, then you’re close to the ByWard Market. That means you’re living near a clump of more than 600 shops, restaurants, and professional and personal services. This encompasses 4 blocks square, with galleries and museums, cafés and pubs, boutiques and beauty salons.
3. Then there’s Centretown. This is another nearby commercial hub, with lots of shops on Bank Street and Elgin Street. Here you can also find many places to get what you need and to enjoy yourself.
4. The downtown area is also friendlier than you might think. People are actually very friendly here. While you might think that this type of area might be prone to break-ins, that’s not a problem when you live in a condo because condos typically have security people. Burglary simply won’t be a worry at all.
5. Transportation isn’t a problem either. The Transitway goes through downtown, and now in 2018 there’s the 8-mile Confederation Line electric light rail transit line. This will add 3 subway stations, with one between Kent and Lyon Streets, between Metcalf and O’Connor Streets, and under Rideau Street with multiple entrances in the Rideau Centre.
6. Are you a college student in need of convenient housing? The living in downtown Ottawa will be extremely convenient indeed. That’s because you can walk to school if you attend Ottawa University. If you’re going to Carleton University, then that just a short ride on the LRT.
7. Many of the condominium buildings here also offer many amenities that can lure residents and renters. Swimming pools and rooftop patios are available, along with large rooms for parties and events. The lobbies are also grand and impressive.
8. When you live in such an area, it’s pretty much impossible to be bored. There are so many places to visit, with theatres, museums, and galleries. Call up your friends, and you can meet in various restaurants that foodies will appreciate. Or you can just enjoy a cup of coffee at a café and catch up.
Or maybe you can just stay home and watch TV or read. Many condo units are designed to be relaxing—so why not relax? Curl up with a good book and congratulate yourself that you’re living in a great place.
Investors follow the money, and money comes from higher demand. More and more people are looking to live in downtown Ottawa, and so investors see that as an opportunity in real estate.