More Apartment to Condo Conversions in Edmonton

UPDATE: I’ve decided to add a little on the actual living environment since it appears people are interested in these condos.  I can only speak from our experience living in an end apartment which faced south-east (the Superstore), but it was not ideal.  The apartment itself appears very nice (good appliances, decent laminate flooring, decent carpeting).

The issues we had were these.

  • Soundproofing is garbage.  We were told it was concrete build.  This apparently only means the floors and ceiling, not the adjoining walls.  We could hear all music, loud talking, etc.  Not a big deal on a weekend, but annoying on a weeknight.
  • The friggin’ trucks.  This was mostly my fault as I didn’t realized how god awful the 24-7 unloading of trucks would be.  Air brakes, forklifts, and yelling between truck drivers and store employees at any time of day (usually 4 a.m.).
  • The walk-ability (or lack thereof).  Yes, you have the train right there.  It’s great if you want to leave Clareview (which you will).  Otherwise, you can choose between walking in the parking lot to Future Shop, Red Robin, Cineplex, or, if you’re daring, Wal Mart.
  • The violence.  In our 1 year there we experienced: 1 stabbing and 15+ police search just below our window, 1 barricaded suspect w/ gun, 1 full scale police swat deployment (w/snipers), 2 shootings in the area, and more degenerate teenagers than I can count.
  • The building.  It leaks and it is sinking like a son of a gun.  Buyer be warned.

If I’m knocked off in the next couple of days it’s due to the property owners of Clareview Condominiums. 

Why don’t you reconsider your purchase and buy something in the downtown, or at least a mature neighbourhood?

———————————–
So, as some of you may know, my wife and I recently moved from our 2 bedroom, 2 bath apartment building in Clareview(NE Edmonton) to much nicer surroundings. No more than 4 days after we moved out we found a letter in our old apartments door notifying us that our apartments were being converted to condos. To boot, they included a flyer with some sleazy mortgage broker offering us a zero down mortgage. Whatta guy!

We were obviously delighted that we got out before this mess, but it does raise some serious questions about how effective the current governments tenant protections rules are, as the NDP quickly picked up on here.

Out of a morbid curiousity I decided to stop in at the hastily established “Sales Centre” to inquire just how much our 954 sq. ft, parking lot view, trucks unloading all hours, crime ridden former apartment was going for. And the magic number? $313,000.

The worst part…when I heard that number I thought, “That doesn’t seem too bad.”

Update: Here’s the Clareview Condos website. I’m pretty certain that picture is taken from the roof of the grocery store that backs on to the property.

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4 responses to “More Apartment to Condo Conversions in Edmonton”

  1. Mark Iocchelli says :

    But, I bet it’s a nice> view of the parking lot?

  2. Les says :

    I’m not sure if your mad or happy! Condo conversions are very good as they give renters a chance to buy their own low cost place. Zero down would make me ask why are you still renting?

  3. benelling says :

    Hey Les,

    I’m happy I got out, and mad that they would try and saddle me with a 30-40 year zero down mortgage. As far as I understand it, zero downs are a great way to get trapped into major debt really early on, and as the US has shown, not a sound financial strategy overall. There are reasons fly-by-night lenders offer them more than established banks.

    Also, in the crazy Edmonton housing market, as more rentals are converted to condos, there are fewer and fewer relatively affordable housing options for low- and middle-income earners, thereby exacerbating the homeless problems.

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