Living in a condo inspired by hotels
The cool factor is not in question; neither is the unparalleled convenience. But if you’re into cutting costs, cutting coupons and cutting your own hair, hotel-inspired condo living — the type that involves phoning down to the concierge to make sure your Labradoodle has been walked — is pure fantasy.
So, what’s wrong with a little fantasy?
The fact is, there’s a large, privileged segment of the population for whom this type of residence fills a real niche. Particularly for those who travel a lot — business people, politicians, professional athletes, well-to-do retirees — the combination of a private home with the amenities of an upscale hotel couldn’t be more welcome.
Hotel-inspired condos have been around for a number of years, but they’re just beginning to make a real impact in Canadian cities, including Ottawa, Toronto and Vancouver.
Some marketers use the term loosely to describe any condo complex with terrific amenities, but it’s more properly reserved for those that provide residents with genuine hotelstyle services. In most cases, this is done by developing a highrise condo whose lower floors comprise an upscale hotel.
In a way, it’s a no-brainer. The developer is able to offer residents a full complement of top-notch services only because they’re guaranteed to be used by out-of-town guests. The hybrid also makes for a lively and interesting community.
It’s important to make the distinction between hotel-inspired condos and condo hotels, also known as “condotels.” The latter are condos that are marketed to buyers who fully intend to rent out the space when they’re not using it, with the assistance of a management company.
These typically appeal to those who plan to spend just a few months of the year in their residence and who are happy to make a bit of money in lieu of having their unit collect dust.
Condotels are often located in ski resort towns and warm weather destinations. They’re usually taxed at a higher rate than typical residences, as they’re regarded as a commercial venture.
Hotel-inspired condos, on the other hand, are targeted to people who want a bona fide home; a space on which they can put their personal stamp and where the staff know their name. Among their hotel-like characteristics:
• They have a location that befits an urban hotel. That is, they’re usually downtown, at the heart of the action, wellserved by taxis and public transit. They often boast amazing
city views.
• They have a hotel esthetic. The common areas and elements of the residences are often designed by big-time designers; the names Brian Gluckstein and Cecconi Simone may ring some bells.
• They have a 24-hour con
cierge. A good concierge is your key to the city — even if you’re city-born and -bred. You may not need a street map or a restaurant recommendation, but your concierge will likely have better luck than you will making that last-minute reservation at the latest hot spot.
Hotel-inspired condo living doesn’t come cheaply. On the other hand, it’s hard to think of a more affordable way to have a butler, cook and maid at your beck and call.