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263 Wellington St W (connected to Marriott)

gei

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Couldn't find another thread to put this in, so I thought I would make a new one.

Two things. First of all, as someone recently pointed out in another thread (which I can't find), there was a big "for sale" sign on the parking lot on the west side of tridel's element. And now the sign is gone. They have now blocked off about a 2-3M wide stretch of the east side of this parking lot (the side that touches the element), and appear to be digging a trench or something like that.

Is this something to do with the Element building, or something to do with this lot? Hmm... Also suspiciously they have replaced the manned booth with a whole bunch of automated parking machines. Seems strange to do that if they are planning on digging up the lot soon... who knows.


Secondly, the building immediately west of the new Mariott Residence Inn on wellington street has just finished construction. Everyone on this board and over on SSC said it was supposed to be a rental building. But from the signage outside it looks like they are actually selling these units. Anyone know what happened here? It's a bit strage that they are starting to sell the units AFTER they are completed construction...
 
The building next to the Mariott (263 Wellington West) has an ad in the Condo Guide. The advetisement is almost as ugly as the building. So yeah, it's a condo.
 
The building beside the new Marriott is indeed a condo. It was originally meant to be a rental building but they decided to change it to a condo. The building only has one bedrooms. However they are all quite large. Most of them are in the 800 - 1100 s.f. range which as anyone will tell you is big for a 1+1. It's very well appointed on the inside however your two choice of views is across the road to the north at another condo or at the office building to the south.
The building does not have any amenities besides a small party room and common balcony area on the 2nd floor which overlooks the alleyway that services the Marriott and the condo itself. Prices are relatively cheap for the amount of sq f. Not a very nice place to live if you ask me but hey what do I know.

Secondly, I have not heard anything regarding the parking lot immediately to the west of Element. I will let you know if any signage goes up as I live across the road.
 
Hmm, I imagine that condo fees would also be quite low if there's so few amenities. Something that seems few and far between these days with condos.
 
Smaller buildings often have higher condo fees than large highrises because there are fewer people paying for all the elevators, garage lights, repairs, maintenance of common elements...

So, you can think of intimate size as a (relatively expensive) amenity.
 
Smaller buildings often have higher condo fees than large highrises because there are fewer people paying for all the elevators, garage lights, repairs, maintenance of common elements...

So, you can think of intimate size as a (relatively expensive) amenity.

+ Security and Management contracts.
 
Does anybody have any recent information regarding this building? I was speaking to a few tenants in the building who said some of their units got bailiff's notices because the foreign owners haven't been paying property taxes.. there also seems to be a couple bank sales in the building at the moment.

Anybody know any current owners?
 
This is the building that was profiled in the CBC:

http://www.cbc.ca/news/canada/toron...l-companies-for-condo-board-control-1.3743645

I typed in the address into Google and found a Booking.com page, Expedia.ca, and TripAdvisor reviews. Any unsuspecting tourist would definitely think that this was a legitimate lodging establishment, rather than a condo. The whole thing reeks.
263Wellington.png
 

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Short term rental condos have been around for years. You have to be pretty oblivious to confused it with an actual hotel.

There are dozens and dozens of condo buildings with these suites. This one has always stood out.

http://www.horizon-on-bay.com/#news
 

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