The Blue Mountains Blue Mountain Sites B, E & F | 25.5m | 7s | Freed | B+H

It also doesn't surprise me that this got chopped It is very anti height up in this area like getting a four-story condo approved is like pulling teeth it took residences at silver Creek over 6 years to get approval for three four story buildings in Collingwood and nothing has been built four stories or taller in the Blue mountain area since the village
 
Collingwoodbuildinglover said:
Hey as somebody who has to maintain all of those hotel rooms the $2 a square foot maintenance fee is a steal for what happens to those rooms 🤣🤣🤣
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You’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?
 
ericmacm said:
You’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?
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From what I know you would not have the maintenance fees you would just have your condo courp fees In that case
 
ericmacm said:
They are not targeting people that want vacation properties, they are targeting investors.

A starting price of $600,000 at 300 sqft is beyond insane, especially given that you can currently get double the square footage at almost half that price in the Village right now with local condo values in active decline. I personally still think the prices of the existing units themselves are crazy, especially once you include the close to $2/sqft maintenance fees. Hard to say to what degree there will be appetite for buyers in the current environment, especially for people that just want a vacation spot. In my opinion, the current stock of condos offers a better deal than this development.
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It’s even worse if they’re targeting investors 😅 $2000 psf is a steep price to pay anywhere in the GTA, let alone Blue Mountain. Even buying any of the current properties isn’t a great investment due to the BMVA fees, and I believe you need to have a larger down payment because of commercial zoning. It’s definitely great for a hands off investment, but with very minimal returns.

Either way I’m curious to see how well these sell. If they drop in price I’ll definitely jump on it, but at these prices I’ll sadly have to sit this one out
 
Collingwoodbuildinglover said:
It also doesn't surprise me that this got chopped It is very anti height up in this area like getting a four-story condo approved is like pulling teeth it took residences at silver Creek over 6 years to get approval for three four story buildings in Collingwood and nothing has been built four stories or taller in the Blue mountain area since the village
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Yeah I’m not too surprised either. I’m curious to see if they still got approved for the height increase for blocks E & F. I’m assuming not, but I feel like the height wouldn’t be as imposing for that location compared to block B at the front of the village
 
ericmacm said:
You’re right, I keep forgetting that all of these condos also flip back and forth between being hotel rooms (and people subsequently destroy them), but that begs the question - would those same maintenance fees apply if you just wanted to own a vacation property for yourself and not rent it out as part of the hotel program?
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All properties pay the 2% of purchase price entry fee (if you’re in the village core) and $1psf annual fee regardless if you’re in the rental pool or not (which isn’t too bad). If you’re in the rental pool then they remove 1% village amenity fee from the gross rental revenue you earn
 
Lperry said:
Yeah I’m not too surprised either. I’m curious to see if they still got approved for the height increase for blocks E & F. I’m assuming not, but I feel like the height wouldn’t be as imposing for that location compared to block B at the front of the village
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See I am wondering the same thing especially since these are the last major parcels that can be developed in the village so the loss of height is an actual permanent drawback though I could see in the next 10 years the existing hotels being demolished for larger buildings as they are very much starting to show their age internally
 
So heard through the grapevine here that The BMR village association has until mid-December to clear any of their assets off of the property that is owned by freed.apparently they want to begin getting shovels in the ground seems odd as the sale center only opened in November 1 st and I have not even seen any permits issued or applied for wondering if anybody would have any further insight also curious if anybody knows what construction type these are reinforced concrete timber or steel
 
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