Here is a brief update on Domicile's HOM project in Little Italy. I'm a big fan of Little Italy right now as an up and coming neighborhood and I think this project is fairly interesting for certain types of buyers. It's not meant to be the most prestigious building in the area, as that niche seems to be filled by Soho with their Soho Champagne project, and potentially their 30 plus story Soho Italia project. The HOM project is intended to be more affordable than Domiciles previous projects and current 131 Holland project. The unit's are smaller and the amenities are more basic. In my opinion this building is appealing to investors who generally look for the lowest priced units in a neighborhood as well as first time buyers and those with a limited budget. Below is a brief update from the Ottawa Citizen after the launch of the project.
"When Domicile planned to launch their new LEED-certified condominium hm near Dow’s Lake, they decided to forgo major upgrades and give potential buyers a true sense of what they’d be getting.
So given they sold twice as many suites as expected when they were released on March 5 and 6 to 1,000 pre-registered guests, those buyers liked what they saw.
“It was wild, it was unbelievable,” says Domicile sales representative Shannon Craig, who said 50 of the 112 condos were snapped up in two days. “We were expecting people but we just didn’t realize how many people were excited about the project in this area. So we were thrilled with the response.”
Other than liking the open layout of the 17 floorplans, she says what is particularly attracting buyers is the large terraces, the central location, and price. The fact the building will be smoke free – only the second new condo after Domicile’s One3One to ban smoking, is also considered a “big” bonus says Craig."
Read more: http://www.ottawacitizen.com/entertainment/Strong+interest+Lake+condos/4459527/story.html#ixzz1HLgA232f