Condominiums in Centretown are here to stay, despite the resistance of community groups, and more likely than not, new development will help diversify the area.
According to the 2011 National Household Survey, one in every eight households lived in condos. People want to live in condos and this could have a very positive impact on the Centretown community.
Arguments against condo development range from a concern that the community will be changed and rebranded, the rent will increase, and stores and services located within Centretown will be forced to close because they won’t hold appeal to the new condo owners.
But the flipside, supporting condo development in the community, also holds a strong case. In terms of rebranding, the Bank Street BIA and Sparks Street BIA have already announced new stores, restaurants and attractions to encourage more business for the communities, with or without condo development.
The rebranding of these areas is already in the works. It seems logical to conclude that as more condos are developed more of the residents will become vital participants in these BIAs. This means the businesses will flourish and potentially provide more employment for Centretown residents.
In terms of rent, the effect may actually be the opposite of what these community groups anticipate. Studies show that the majority of condo owners are either young professionals or senior citizens. Instead of driving up rental prices, the placement of these condos may mean these two common demographics move out of their Centretown rental apartments and into condos, opening up that rental space for people who need the affordable housing.
Similarly, the National Household Survey also indicated that more than a quarter of condos are rented out. So more condos may also mean more rental units for the area.
The assumption that stores and services will be forced to close seems to be the worst argument of all. The goal of a store or service is to bring in customers. If more condo buildings go into the Centretown community, it means more people will be coming to the community not long after, meaning more customers.
An additional worry seems to be that new condo developments will ruin the cityscape of Centretown. But Mayor Jim Watson has said this is something the city is aware of and condo developments will be approved for specific areas so the landscapes of Ottawa communities are not ruined.
At a press conference at Carleton University on Sept. 24, Watson said: “I don’t want to go into a residential neighbourhood and plop a 20-storey building in the middle of a residential street. But I don’t mind putting one on Carling (Avenue), which is right next door to the O-Train, which is our whole raison d’etre to build transit.”
It’s the city’s official plan to maintain the boundaries of the city, so instead of building out beyond the current city limits, the focus will be on building up. Though this may seem to be increasing the intensification of the downtown core it will also save taxpayers money in the long run.
Watson said that maintaining the urban boundaries means fewer pipes to install, fewer roads to maintain and fewer operating costs. By building up, the services being provided now will simply continue as is.
Before deciding that condos are bad for Centretown, the overall impact needs to be considered, as well as the added benefits such a development could have on the community.