Archive for April, 2014

Student/Western Ontario Living in London Ontario

Monday, April 21st, 2014

P1140745Have you noticed a massive apartment building going in just north of the university on Richmond Street? Have you driven past the new “Ontario Hall” on the west side of Sarnia Road just north of the university? Have you noticed all of the other new student buildings around the university? Student living seems to be getting more plush every year.

Several sources have reported that over the last five years the city of London has built more apartment units that the city of Toronto. In the past we have noted that complexes like the ones at 80-284 Monmore Road in north-west London were once mainly student occupied and that is no longer the case. With more and more “purpose built” units around the university students no longer have to bus long distances to get to school.P1150831 At the same time as we are noticing this flight to quality we are also witnessing one other occurrence. The rules and regulations regarding students actually living in many of our condo complexes are now being tightened up/ highlighted / enforced/ use of restrictions … and in general made more pronounced. Take for example the two following wordings.  1) In the 250-270 North Centre Road complex the wording is ” each of the residential units shall be occupied and used only as a private single family residence and for no other purpose”. 2) In the 1500 Richmond Street complex part of the  wordings  are… the following uses of a unit would still be clearly prohibited…. ” (ii) The renting of the units on an individual bedroom basis; (iii) The occupation of the unit by an unrelated group of people who are not in a permanent, family-like relationship; and (iv) Any occupation of the unit by individuals, or a group of unrelated individuals …..   Clearly in both of these cases no university students as rental tenants are not wanted.P1130532

It would be a bit of a stretch to say that the student housing market on streets like Boughdale, Huron and Sunset just south of the University Gates will someday change and go back to being a lessor density. Our point simply  is that when it comes to “student living” there are some noticeable changes now happening in the London marketplace as students are becoming more specific to where they now want to live.

Written by Peter Daoust Broker, Remax Advantage Realty Limited Inc.