ville-marie Livmore 2 - 46 étages

[Djentmaster001]

Rental market is piping hot in Montreal, the reason for the slowdown is mainly inflation, supply chain issues and costs (20-20-20 rule is also a factor, but targets condo projects more than rentals (more $$ lost)). With 750 Peel and now Livmore 2 starting and let's not forget 1050 DLM, others will be announced (primarily rental, no condo but mix-use). I know of a few projects being worked on as we speak, but we have to consider all factors holistically, along with the city needing to be more developer friendly again so we can get on building, increase supply and it will eventually reduce prices. 

 

[KOOL]

il y a 33 minutes, Djentmaster001 a dit :

... 20-20-20 rule is also a factor, but targets condo projects more than rentals (more $$ lost)). With 750 Peel and now Livmore 2 starting and let's not forget 1050 DLM...

All the projects you named were presented before the 20-20-20 was effective. 

[Djentmaster001]

Just now, KOOL said:

All the projects you named were presented before the 20-20-20 was effective. 

750 Peel became rentals, condo market is cold here, 20-20-20 rule had an effect on the market overall, but not as blown as it's made up to be on this forum (there's a reason why developers paid a fee.... and loopholes exist). Supply chain issues/inflation, construction costs, pandemic, taxes, etc... 1050 DLM was proposed AFTER the bylaw, by the way (the transaction was August of 2021). By-law came into effect April 1st, 2021 and that was after two years of delays. 

I'm not a fan of this admin like most people on here, but to only blame it on the 20-20-20 bylaw and not looking at the big picture is pure ignorance. There's a lot on the horizon and the construction of these projects will show more confidence in the market, and thus, more projects to be announced. 

[Rocco]

⬆️ Are u making a Budge of yourself or u can share infos of future projects on this very discreet forum?

[KOOL]

il y a 8 minutes, Djentmaster001 a dit :

1050 DLM was proposed AFTER the bylaw, by the way (the transaction was August of 2021). By-law came into effect April 1st, 2021 and that was after two years of delays. 

20-20-20 affects both condos' and rentals.

Thanks for the rigor concerning the 1050 but how come do they only have 15 family units  (6%) ? That means they payed the penalty ? 

[Djentmaster001]

4 minutes ago, Rocco said:

⬆️ Are u making a Budge of yourself or u can share infos of future projects on this very discreet forum?

I am finding a balance of letting you guys know that the market is not dead but also respecting client confidentiality. It is slower here than other markets, but it is still a wait and see approach and there are still a lot of works in the pipeline.

[Rocco]

⬆️ And may I ask why is it slower here?

[KOOL]

il y a 16 minutes, Rocco a dit :

⬆️ And may I ask why is it slower here?

Why are you asking the question when you already know the answer...

[Djentmaster001]

15 minutes ago, Rocco said:

⬆️ And may I ask why is it slower here?

Just to name a few... Higher taxes, more red-tape, labour shortages, condo market is (and never was) as strong here vs rental market. On top of that, weak dollar, inflation, supply chain issues, war and the city is very slow approving projects. 

Again, gotta look at the big picture, it's not just Plante and Projet Montreal causing the slowdown. The provincial government should also step up and do what I have been seeing in the U.S and Canada, incentivise developing more, but Quebec has always been allergic to big pro business governments, so I do not expect this to change soon. 

 

[johan]

Il y a 3 heures, Djentmaster001 a dit :

Just to name a few... Higher taxes, more red-tape, labour shortages, condo market is (and never was) as strong here vs rental market. On top of that, weak dollar, inflation, supply chain issues, war and the city is very slow approving projects. 

Again, gotta look at the big picture, it's not just Plante and Projet Montreal causing the slowdown. The provincial government should also step up and do what I have been seeing in the U.S and Canada, incentivise developing more, but Quebec has always been allergic to big pro business governments, so I do not expect this to change soon. 

 

Can we know anything about The La Baie Project ?!?

Please 🥹🥹

 

Thanks in advance !!