Capital Hall Condos caters to university students in Ottawa
By Lucas on Sep 30, 2015
Developing new residential communities close to schools and university campuses isn’t a new thing, but Ashcroft Homes is taking this approach to a whole new level with Capital Hall Condominiums in Ottawa.
We’re not experts in the way Canadian universities manage their student population, but for some reason, the more popular universities just can’t keep up when it comes to housing. We saw an example of this here in the GTA about two years ago when Devron Developments and LeMine Group launched The Academy within steps of the University of Toronto Scarborough campus. Devron and LeMine recognized a need for housing and knew that there would be many investors interested. We all know how that turned out - the condo sold out, selling over 300 units in a single day.
Between 2002 and 2014, Ontario's university enrolment increased by 49%. Over the last 10 years, Carleton University in Ottawa experienced an 18% increase in student population, with a 43% jump in international students. The current population is nearly 28,000 students and as one of Canada’s most popular universities, the population is only going to rise in coming years. Of course, housing geared towards students hasn’t increased as dramatically.
Capital Hall Condos will rise in the heart of Little Italy and feature two towers and over 500 units. The condo will be within short walking distance of Carling subway station, which is only one stop away from Carleton University. The recently expanded O-Train to Carleton is only two minutes away from the site of Capital Hall Condos.
The first tower at Capital Hall Condos will be a 26-storey building composed of brick and stone, and will provide views of Dow’s Lake, downtown Ottawa, and the university. The units are designed for an income-driven investment. As we mentioned, we’ve seen new condos near university campuses, but Ashcroft’s condo will offer a turnkey solution for investors looking to rent to students. There will be furnished units available, including beds, side tables, lamps, living and dining furniture, chairs, and a television. These units will be ready to rent out immediately! These units will be extremely attractive to new students and international students since they won’t have to worry about furnishing their own places and you don’t have to go through the trouble of doing so either. And as if that wasn't amazing enough, Ashcroft is also offering a three-year rental guarantee!
The units will range from studios to two-bedrooms. Odds are, most of the studios and one-bedrooms will be the first to sell since it will most likely be easier to rent to a single student as opposed to two. The two-bedroom plans would be good for parents who have a child who may be attending Carleton in a few years, and the two-bedrooms could always be rented out to friends who are attending the university together and need a place to live. Also, two-bedrooms are good for students who can’t afford to rent a one-bedroom on their own.
“Most important, Capital Hall has been designed as an environment where students will thrive in a safe and secure atmosphere,” says Ashcroft Homes’ CEO David Choo. “Ashcroft Homes’ ‘Envie Brand’ is a lifestyle-focused approach to student condos designed the way students wish to live. Envie features a lifestyle program manager to help students balance university work and social lives, and Capital Hall also features 24 hour security, closed circuit cameras, on-site housekeeping services, and 4,000 square feet of ground floor retail featuring a grocery store and coffee shop.”
Capital Hall will also offer 8,000 square feet of student-friendly amenities, which are very similar to the everyday amenities you’d find in your typical condo building, such as a fitness centre, a party room, a lounge, plenty of bike storage, and a landscaped outdoor courtyard. The one amenity especially for students is the designated studying area. These amenities are all low-cost, so the monthly maintenance fees should be pretty low.
Register for Capital Hall Condos
Ashcroft Homes is one of the most prolific and well trusted builders in Ottawa. They have built thousands of single-family communities, townhome communities, retirement residences, and luxury condos.
If you are interested in making an investment in Ottawa’s hot housing market and want to benefit from rental income, then Capital Hall Condos might be the development for you!
