Good-Bye Sleb, here comes Lofts des Arts

If you’ve been reading the blog long enough, you’d probably remember the article about Sleb and the scandal with the developer back then, the money being owed to the people who purchased and the legal battle between the promoter (Minco), creditors (Dalle Nogare) and the buyers.

The news were released last year, the Sleb project was finally settled and taken from Minco by the Dalle Nogare family. The buyers who lost money on the initial investment were reimbursed and a new project was born: Lofts des Arts.

There are 102 industrial style condos, from 818 to 1650 sq ft, with 10 foot ceilings and hardwood floors. The asking price starts at $250,000. There’s no model unit to see, because (according to the sales rep) “every unit is different and unique”.

Wishing best of luck with the new project and I’m happy to hear the buyers from Sleb got their money back. Will they return to the new project? My friend who bought there decided not to take a chance with the new developer. Maybe others will be more adventurous.

Development Spotlight: Gillette Lofts

Location: 1085, St-Alexandre, Montreal.
Size: 6 floors, 55 units.
Prices: $300 per square foot.
Architect: Karl Fischer
Developer: Mark Dichter & Noam Schnitzer
The Scoop:

Five floors feature 12- or 13-foot ceilings, and a wide open floor plan that will make is easy to create large open lofts. The units range in size from 650 feet to 1,200 feet, though some buyers have been buying and combining units. Prices work out to about $300 a square foot. The developers are adding a glass and steel penthouse, which will contain five luxurious two-storey units. Prices for those are in the $1-million range.

For more information visit: www.gillettelofts.com