The Ever-Shrinking Condo

Between 2005 and 2010, the average size of a new condo oscillated between 875 and 925 square feet (Perkins2014). By 2015, a new condo average size is 797 square feet according to RealNet Canada. During this period, we witnessed in Vancouver, Toronto and Montréal, the rise of the micro-condo, which varies, from 226 square feet to 395 square feet. This article examines potential economic, demographic and cultural causes and consequences of the rise of micro-condos and their impact on the urban landscape and public space. RésuméEntre 2005 et 2010, la taille moyenne d’un nouveau condo a oscillé entre 875 et 925 pieds carrés (Perkins,2014). Par l’an 2015, la taille moyenne d’un nouveau condo est de 797 pieds carrés selon RealNet Canada. Aucours de cette période, nous assistons à Vancouver, Toronto et Montréal à l’essor du micro-condo, qui varie de 226 pieds carrés à 395 pieds carrés. Cet article examine les causes potentielles et conséquences économiques, démographiques et culturelles de la montée en des micro-condos et son impact sur le paysage urbain et l’espace public

Comparative assessment of residents' satisfaction with older and younger condominiums: case studies from Kuala Lumpur, Malaysia (UP 046)

During the last two decades, the growth of condos in Kuala Lumpur as a high density housing is a respose to the growing demand for housing in the city. So far housing research in Malaysia is focussed on public or private low-cost with little attention paid to the growing condo sector. Therefore, a research need arises due to limited studies on the subject and further that due to more than one reason. Malaysian middle class city dwellers prefer to live in condos than their preferred terrace housing. Against the above backdrop, this paper provides a comparative assessment of residents' satisfaction with older (>10 years) and younger (<10 years) condo dwellers within the Kuala Lumpur metropolis. Three components of satisfaction - dwelling unit variables, dwelling unit support services, neighbourhood and management, have been studied. Two hundred respondents participated in the survey exercise with 100 residing in older condos and another 100 living in younger condos. Findings from the study indicate that the residents of older condos are not satisfied with the dwelling unit support services and management and over 40% of the residents are also planning to relocate due to current housing situation. On the contrary, the younger condo residents rated a relatively high level of satisfaction with the dwelling unit support services and they are moderately satisfied with condo management. Further, the older condo residents showed a more significant and positive relationship between the overall housing satisfaction and the tested variables as compared to the younger condo residents due to the age differences between the two condo types. Finally, the paper comes up with three basic issues where immediate attentions are required to improve condo management enhance condo residents' satisfaction

Early life-history studies of nearshore rockfishes and lingcod off Central California, 1987-92

This study focused on the physical and biological processes that influence the distribution, abundance, growth, and survival of young-of-the-year (YOY) rockfishes and lingcod along the central California coast. The annual somatic and reproductive condition of adult female blue rockfish corresponded to annual upwelling. Resulting larval production may correspond to the reproductive potential of adults; however, ultimate recruitment success of YOY is also effected by oceanographic conditions during their planktonic stage. Within a year, each species of settled YOY was observed concurrently and in relatively similar abundances at all study dive sites along the central coast. Most species of YOY exhibited similar growth patterns among stations and years. We found a high degree of interannual variability in the condition of adults and relative abundances of YOY. We believe a large part of this variability is due to annual oceanographic conditions, specifically upwelling. Marine reserves, which would protect populations of reproductively mature rockfishes and lingcod and insure 1arval production, have been suggested as an alternative to present management strategies for these species. However, a crucial question is whether or not larvae from adult fish in reserves would significantly contribute to replenishing stocks in other areas. This study was undertaken to assist in determining the feasibility of reserves to enhance nearshore rockfish and lingcod populations. (78pp.

Econometric model of ski condo prices in New England

Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 2000.Includes bibliographical references (leaf 89).What does the future hold for ski condo prices in New England? To answer this question historical condo prices were collected for The Village of Loon Mountain Development in Lincoln, NH. Skier visits, snowfall, employment, condo stock and interest rate information was also collected from around the region in order to compare changes in these variables with the changes in past ski condo prices. Using over 600 sales transactions from 1977 to 2000, a price index was created. This index allows for a more manageable view of the data as condo location, condo size, and condo style effects were removed using a hedonic model. Remaining was a yearly index that tracked real condo prices as a function of time. Over the length of study, the index had a few years of upward momentum, but all in all real ski condo prices have fallen over the 24 year period. Using the price index, three equations were created that will be the foundation of the econometric model: Skier Visits (a measure of condo demand), Change in Stock (a measure of condo supply) and the Real Price Equation (a measure of condo price). The econometric model uses these three equations to predict future condo supply and demand in order to establish a future price. Five simulations about the future were run to see the affects of changing the input variables. The cases start with pessimistic outlooks on snowfall, resulting in low skier turnout, low new condo supply and further depressing condo prices. Even the most optimistic snowfall case, 90 inches of snow per season, increases demand through skier visits, which in turn prices, starts the construction boom and eventually brings prices back down to pre-boom levels. Case 5, which predicts future snowfall along the linear trend line and doubles forecasted employment growth, forecasts stable condo prices even with a boom in condo construction. Like the other cases, condo stock response immediately to the increase in condo prices; however, with a more robust economy, the prices remain stabilize as more condos come on-line due continued strong demand. This allows for a continued building boom for the foreseeable future. Ultimately what can be concluded from this analysis is that ski condo prices are not going to appreciate. In every simulation, prices either fall or stabilize. Sure there is an instance where prices increase for a year or two, but these ultimately return to preboom levels. Since the ability for developers to supply ski condos quickly, prices will remain flat through 2009.by John David Corey.S.M

Downtowners of Columbus: Who They Are and How They Live

This research covers the demographic, housing market, and other characteristics of downtown Columbus

Capitalization of Above Market Financing: Condos and Co-ops

Prices and characteristics were collected for two similar, adjacent buildings. One building, a co-op, has a master mortgage with a prepayment lock-out, while the other building, a condo, has no master mortgage. They provide a natural experiment to isolate the capitalization of financing terms. The research provides the clearest demonstration to date of the impact of financing terms on sales price. The value of the prepayment lock-out is estimated, using a stochastic simulation, as a function of the level of interest rates, rate of volatility, and time remaining on the lock-out provision. Prices for co-op units are found to fluctuate with the value of the prepayment lock-out. The value of the lock-out is overcapitalized in the price of co-op units. Co-op status reduces the value of apartments by about 9%.

Does the Los Angeles region have too many vacant homes?

In recent years, vacant homes have increasingly been identified as a potential indicator of speculation or otherwise underutilized housing stock. Recently constructed market-rate and mixed-income housing, in particular, has been cast as villain in this debate, with relatively high vacancy rates taken as a sign that this type of housing isn’t needed. Using Los Angeles as a case study, this working paper explores the nature, extent, and causes of housing vacancy, and draws conclusions about what should be done about vacant homes in high-cost locations like L.A. Analyzing multiple data sources with varying jurisdictional boundaries, I find that Los Angeles vacancy rates rank among the lowest in the nation, and are lower today than they were for most of the past 15 years. The types of vacancies in the city and metro area (“market” and “non-market” vacancies) also appear in similar proportion to other jurisdictions. And, accounting for the lease-up periods of newly constructed buildings, vacancy rates in the booming neighborhood of Downtown Los Angeles are similar to those of the rest of the city. It is suggested that proposals such as vacancy taxes may achieve modest reductions to vacancy, but will do little to address the needs of overcrowded households, super-commuters, or future generations, among others

Assessment of residential satisfaction in high-rise condominium and terrace housing: case studies from Kuala Lumpur

Kuala Lumpur, the capital city of Malaysia, has been experiencing a rapid rate of urbanization over the last four decades. This has created the need for housing which initially started in a low density fashion in the city, but it gradually turn into high density because of increasing land price and shortage of land in the core urban areas. The growth of condos in Kuala Lumpur City during last the two decades, as high density housing, is a response to the growing demand for housing in the city. So far housing research in Malaysia is focussed on public or private low-cost with little attention paid to the growing condo sector. Therefore, a research need arises due to limited studies on the subject and further that due to more than one reason, Malaysian middle class city dwellers currently prefer to live in condos than their preferred terrace housing. Against the above backdrop, this paper provides a comparative assessment of residents’ satisfaction with condominiums of different ages – older (>10 years) and younger (<10 years) within Kuala Lumpur City. Three basic components of satisfaction – dwelling unit variables, dwelling unit support and neighbourhood facilities and management, have been studied. Two hundred respondents - 100 residing in older condos and another 100 living in younger condos participated in the survey. Findings from the study indicate that the residents of the older condos are not satisfied with the dwelling unit support services and management and over 40% of the residents are also planning to relocate due to current housing situation. On the contrary, the younger condo residents show a relatively high level of satisfaction with the dwelling unit support services and they are moderately satisfied with condo management. The older condos showed a more significant and positive relationship between the overall housing satisfaction and the tested variables as compared to the younger condos due to the age differences between the two types. Finally, the paper comes up with three basic issues where immediate attentions are required to improve condo management and enhance residents’ satisfaction. Since 1970s, Malaysia is experiencing rapid economic growth which led to rapid urbanization as well. This rapid urbanization is associated with growing urban population and increasing household income. Thus, Malaysian government has facilitated various types of housing in order to accommodate different income groups. Despite design limitations such as lack of ventilation and natural lighting, double-storey terrace housing is considered as popular housing type among the middle income people in urban areas. However, empirical studies identified increase in crime rate in landed housing such as double-storey terrace house. In addition, design of double-storey terrace house also impacted on residents’ satisfaction. As a result, double-storey terrace house is found as the most modified houses in Malaysia. Thus, this research aims to appraise residential satisfaction in two double-storey terrace housing neighborhoods- Taman Sri Rampai (TSR) and Taman Keramat Permai (TKP) in Greater Kuala Lumpur. The research objectives and the questions were formulated based on a dynamic interaction approach which includes three main processes- cognitive, affective and behavioral. In order to examine and compare the residential satisfaction in two neighborhoods, five housing environment components of double-storey terrace housing such as physical features, housing support services, public facilities, social environment and neighborhood facilities were analyzed through residents’ levels of satisfaction. The research explored and compared the residents’ behaviors as a result of the residential satisfaction/ dissatisfaction. The main research data was obtained from a random sample of 220 survey questionnaires distributed equally among the residents of two neighborhoods. The data was analyzed by using SPSS. Reliability test was carried to examine the reliability of the questionnaire’s items. Descriptive and inferential statistics were used to examine the levels of satisfaction and to explore residents’ behaviors. The findings of the research indicate that the levels of residential satisfaction are generally low with physical features, housing support services, and social environment in two neighborhoods. On the other hand, residents’ satisfaction level was high with public facilities. While the levels of satisfaction are high with neighborhood facilities in TKP, they are moderate in TSR. The findings also explore that the most modified spaces in double-storey terrace house are essential spaces followed by complemental spaces and special spaces. Finally, the findings show that two-thirds of the residents in TKP intend to stay in their current area while half of residents in TSR prefer to stay. Recommendations are directed to increase the low levels of satisfaction among residents in two neighborhoods. Future studies are suggested to extend the study on different locations of double-storey terrace housing, different demographic characteristics of residents, and different socio-economic characteristics of residents as well

The Role of Condominium Amenities in Community Building

Many Canadian cities are facing densification through the condominium-boom. Planning policies and neoliberalism are encouraging this form of housing. The term “community” is recognized in legal and land-use planning processes through a political lens, but it does not consider the sociological aspect. Residents make the community by developing relationships. Research is needed to identify if residents enjoy their condo amenities and if they feel it has an impact on community building. By researching this matter, planners, policy makers and condo board members can make certain changes that may improve the residents’ sense of community. This study consists of a mixed methods approach: quantitative and qualitative. Data on condo amenities has been collected from a real estate website, for data on an inner city (Downtown Toronto), an older suburb (Scarborough) and a new suburb (Vaughan). This provides data on the types of amenities available to condo residents. Residents from these areas also described their experiences. Both of these methods inform the condo residents’ perspectives. As there is a rise of feeling lonely in today’s society, cities need to plan for the psychological wellbeing of inhabitants. The narratives of cities are changing, which means that definitions of community are also changing. It is important to make structures that satisfy the psychological and physical needs of residents

Take one

This item contains three issues of the Take One newsletter: September 2, 16, and 30, 1982Take One was published every two weeks and focused on short news items and announcements "for the people of University Hospital.