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Details of the Condos now on sale at 202 Second Street are now available and plans have been submitted to Council and been given preliminary approval.  That's the location where Quigley's used to be and where there is currently a large parking lot.  The units are a mix of live-work and residential only.  The live-work units are intended for people who live on the top 3 floors and work in the ground floor commercial space.  The Real Estate company selling the units says there are 21 live/work units and 13 residential only townhomes - a total of 34 units.  Sizes range from 2000 to 2500 square foot according to the Agent.  Each unit has an "attached garage with 1 parking space" - that's a total of 2 parking spaces each.  There are 72 total spaces according to a report by Cecilia Naismith in Northumberland Today.  That implies 4 visitor spaces.

202 Second StreetInstead of balconies, all units have a rooftop patio with a view of the harbour.  This is possible because their view is through Rotary park and over the fountain/rink.  The average selling price is $550,000 with a specific unit on sale for $539,850 at the Real Estate agent's web site.  That unit has 3 bedrooms and 4 bathrooms.  Others have only 2 bedrooms.

Stan Frost is enthusiastic about the development and it will certainly be good to have the space properly used.  But there are some questions:

  1. Cecilia Naismith reported that Councillor Donna Todd said that "With that many new commercial frontages, people are looking at the commercial vacancies on nearby King Street and wondering how viable it is to add that much more."  Mayor Gil Brocanier said many of these operations would be service industries.  The developer agreed, saying that one of their earliest purchasers is a psychologist who can use the space for a practice. The other spots, because of their size, will serve only niche markets (it might be a good spot for a boutique, he suggested).
  2. Each commercial space will be 300 square feet so there won't be room for a major store. As Gil suggested, service industries look like good candidates - especially with the large number of other residences close to downtown.  The store entrances will be 2 feet above grade with a fenced walkway in front (see photos).
  3. The units will have full basements (unfinished).  Although that would seem a good feature, the unit parking (garage) is not at that level but the additional parking probably is.  On land that close to the lake, the sump pump required must be driven by multi horsepower motors or the basement will be 4 feet deep in lake water.  This is what was done for the HarbourFront Condos.
  4. How will the lost parking spaces be made up?  The recent parking study suggests that we'll be OK but there will be longer walks to downtown from available spots.

The sell prices seem high but compared to those on the Esplanade which sold for around $600,000, they look OK.  Units have a high-grade finish and amenities and you can't beat the location.

As usual, there is no targeted completion date - it requires a percentage of units to be sold before construction starts.

Update - 14 October 2013

According to John Hill at Small Town Radio 89.7FM, these condos will be built in 3 phases with the first phase consisting of 10 units.  The developer needs 6 to be sold before he can proceed but John Hill says that so far only 4 have been sold.  John also said in connection with another development that "the condo market in Cobourg has collapsed".  Are these Condo units in trouble?  Let's hope not.  Sales of Condos will never zip along in Cobourg - especially at these price points.

Update July 30, 2014

The on site real estate trailer has been closed for some time; the real estate contact information is no longer valid.  BUT, there's a new sign on the site so maybe the developer is still interested.  The developer's web site WAS here: Cobourg Live Work.  He shows the same plans as above and the same real estate agent so maybe it's too early to be hopeful.

Update March 3, 2018

Although there is no apparent progress on the project, the architect still has the design on his web site here.  However, it seems to be a promotion of the work he can do for clients and not an indication about the project's status.

 

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