Noise Barriers Plan info for 417 in core of Ottawa

There will be a public meeting, January 20, 4-8pm at St. Anthony’s Hall (A), 523 St. Anthony Street.

More info:

http://queenswayexpansioneast.com/highway-417-noise-barrier-retrofits-between-the-o-train-and-the-rideau-canal/

And PDF file with info:

Hwy417-noise-barrier-retrofits-bil

As per Capital Ward Newsletter, January 14, 2016.

How affordable is the #Glebe? Factor the Pleasant Social Interaction (#PSI) in your calculations

Glebe home affordability

Glebe RES Average price 3 Year Graph

Although many homeowners from across the Ottawa area may argue that the “affordability” of Glebe homes is non-existent, there are those of us who are willing (and able) to pay the price to live in our green and central neighbourhood. According to the Ottawa Real Estate Board, the average sale price of a residential (non-condo) home in Ottawa in January 2015 was $370,442. For the same month and property type in the Glebe, the average sale price was $617,000. The average for the Glebe for all of 2014 was just over $721,000 (January 2015 was an “off” month with a small sample size).For most first-time buyers or people moving within the city, Glebe home prices may seem incredibly high, but for families moving from some of Canada’s larger cities, these numbers actually seem quite reasonable. For homebuyers from international locations the Glebe is almost inexpensive.

Glebe RES Average Days on Market 3 Year Graph

What about some real statistics, you may ask. You have to be careful with these statistics, as there are certain months where the sample size (number of properties sold) is low, so the statistics can be deceptive (also note these are for MLS sales). These statistics are Glebe-specific, for residential homes (non-condo, non-multifamily).

How would you interpret these graphs? Certainly there are trends that are season dependent. The sold-to-ask ratio is interesting as well. Remember, though, that this ratio applies only to homes that sold, and that the original asking price may have been reduced prior to final sale.

Glebe RES Average Sale Price to Asking Price Ratio 3 Year Graph

So where is the value proposition that makes the Glebe “affordable” to some? Why are you and I willing to spend possibly twice as much as the average Ottawa homeowner to buy a home that probably needs more renovations, costs more to heat, has a smaller yard and property taxes that would pay for the monthly lease of a nice car? The fact is that some people make more money than others – not a surprise. Another financial factor is that not every Glebe homeowner paid the prices we’ve seen in the last 15 years. It wasn’t that long ago there was less of a discrepancy between pricing of homes in the core of Ottawa and those further out. Those having bought in the 1990s or earlier have done well. Find a neighbour that bought in the 1960s or 1970s and ask them what they paid!

What about the current value proposition? We all know the saying “time is money.” How do you perceive the worth of your time? Is that why you pay more to be in the Glebe? Are you walking to work, walking the kids to school and walking to get your groceries? Is it the healthier choice that keeps you here? The environmental impact? Less time driving and less gas burned? How about that neighbourhood feel? Does every single block have a street party? It sure feels like it. We had at least two on our block last year.

I find value in all these aspects of living in the Glebe and have been happy to pay the higher price for over 13 years now. That being said, each March and June, as I pay my ever-increasing property taxes, I take a minute to reconsider that value proposition. I think about the traffic on Bank (which seems worse of late), the 100-year-old sewers under my street (not looking forward to the summer they rebuild them), the occasional smog day in the summer, the urban noise factor, as well as the other unsavoury aspects of an urban lifestyle.

I then think about walking my kids through the park, past the inlet, to a great school where I see lots of other parents and friends taking an active role in their children’s lives. I consider the Glebe Community Centre and all its offerings. Walking to my office and seeing business owners along the way, I consider how many pleasant social interactions I have with neighbours, dog walkers and people living in the rental units on our block each day. Maybe we could measure a neighbourhood’s Pleasant Social Interaction (PSI) factor per day. I don’t have statistics for the Glebe’s PSI (since I just made it up), but for my money, it’s one of the highest around. What about PSI per dollar of total home ownership cost? Again, my money is still on the Glebe being one of the most “affordable” neighbourhoods.

Dan Moloughney is Broker of Record, Ottawa Urban Realty Inc., Brokerage (Bank at Second Avenue), and a long-time Glebe resident.

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As printed in Glebe Report March 13, 2015

The Glebe

The Glebe is a neighbourhood in Ottawa, Ontario, Canada. It is located just south of Ottawa’s downtown area, with its northern border being demarcated by the Queensway highway. It is bounded by the Rideau Canal to the south and east. Many maps show the western edge as Bronson Avenue, but some also include the triangle farther west formed by Bronson, Carling Avenue, and Dow’s Lake. The Glebe Community Association uses the latter definition. As of 2006, the area’s population was 10,886.

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