Construction Snooper: ETS Student Housing.

When we saw the construction from this side of the building, the first thing that came to mind was “Yet another condo project.” But, as it turns out, it will be a new housing for the ETS students, located in the south-east corner of Rue Notre Dame and de la Montagne. According to the sign, it promises to deliver over 450 beds, food court on the first floor, etc. Not bad.

We found out from the workers, the project is expected to be ready by September 2008, although the sign says: Opening Summer 2008. They are only one month behind schedule, wow. Could this be the only project in Montreal that will open on time? We have to see it to believe it. We are keeping our eyes on it.

An interesting thing that will happen is the following: The project across the street, Jardin Windsor (1225 Notre Dame O), has 17 active listings, seven of them being rentals.

[Jardin Windsor, view from Notre Dame E.]

When the project first opened its doors, many investors saw the potential for income property, renting it to students, since there are a few schools nearby. Now, with the new student housing opening right in front of them, our guess is, and it doesn’t take a rocket scientist to figure this one out, a lot of the condos in Jardin Windsor are going to be vacant reeeal faaasst.

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