Thoughts on Preconstruction in Mooney’s Bay - Are New Builds Closer to Downtown Worth It?

Hi Ottawa!

I’m considering the preconstruction townhomes at The Docks in Mooney’s Bay, priced around $900k (~$510/sqft). They have some interesting features, like extra-high ceilings on the second floor. They’re freeholds but on a private road so there’s a small monthly fee for private road maintenance and upkeep ~$100, which is the case for a lot of properties in the area. One thing to note is the developers (Mistral) seem to be new.

Renovated semi-detached homes nearby have been selling for around $750k, or $380/sqft as they’re also a bit larger, granted they were built in the 70’s.

I’m wondering whether Ottawans think the pricing is reasonable given the location and the fact they’re new builds. Does anyone have insights on how this compares to other new builds or thoughts on whether it’s worth it? It’s a great location, right across the road from Mooney’s Bay beach, but I’m finding it hard to gauge value because most new construction is outside the greenbelt so farther out in Barrhaven, Kanata, Findlay Creek, Orléans, etc.

Would love to hear thoughts from Ottawans in the area or those familiar with the market overall!