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Old 02-07-2013, 10:37 AM   #21
Hack&Lube
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What are condo fees like in this area? Any guesses as to how much it might be $400-500/month?
Condo fees will vary based on what unit you have. Higher square footage means more condo fees often because you can also assume more people living there and consuming utilities, amenities, etc.

I'm guessing about $300-$350 for for the 500ish square feet units.
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Old 02-07-2013, 11:36 AM   #22
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I believe the estimated condo fees for Mark is $0.46 per square feet, so for a 527sqft, it's about $250 a month.
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Old 02-07-2013, 11:49 AM   #23
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Thanks, that's not bad at all.
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Old 02-07-2013, 01:20 PM   #24
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Condo fees are quite low and having commercial spaces in the podium should help keep them low.
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Old 02-07-2013, 04:22 PM   #25
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Condo fees are quite low and having commercial spaces in the podium should help keep them low.
Are the commercial spaces going to belong to the condo corp with the condo corp receiving the rents? Otherwise I don't see why commercial spaces would help.

I'm familiar with a few buildings where energy intensive commercial units pay condo fees at the same per square foot rate as the residential units above them. That results in a significant subsidy by the residential units to the commercial units, and means the residential condo fees are higher.
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Old 02-08-2013, 01:03 AM   #26
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I was quick to jump the gun with that comment as I am not 100%
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Old 02-09-2013, 08:35 AM   #27
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Are the commercial spaces going to belong to the condo corp with the condo corp receiving the rents? Otherwise I don't see why commercial spaces would help.

I'm familiar with a few buildings where energy intensive commercial units pay condo fees at the same per square foot rate as the residential units above them. That results in a significant subsidy by the residential units to the commercial units, and means the residential condo fees are higher.
I believe most of the new condo buildings in Calgary have split the residential/commercial spaces into two separate corporations. This was the case when I lived in Arriva.
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Old 02-09-2013, 01:36 PM   #28
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Are the commercial spaces going to belong to the condo corp with the condo corp receiving the rents? Otherwise I don't see why commercial spaces would help.

I'm familiar with a few buildings where energy intensive commercial units pay condo fees at the same per square foot rate as the residential units above them. That results in a significant subsidy by the residential units to the commercial units, and means the residential condo fees are higher.
Stella/Nova & Luna condo corps receive revenue from the shops. It's good as long as you can keep tenants. I imagine Mark would be the same, being another Qualex development.
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Old 02-11-2013, 09:34 AM   #29
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I believe most of the new condo buildings in Calgary have split the residential/commercial spaces into two separate corporations. This was the case when I lived in Arriva.
How does it work for repairs to shared elements? For example, the roof or landscaping, etc.
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