Well, this is a reality check to those who love to sing the praises of density and multi-unit living:
Judge orders Vancouver strata to impose $16 million levy to repair leaky condo problems
...The strata did not implement an engineer’s report recommending a comprehensive remediation program, prompting a group of owners to go to court seeking an order for an administrator with powers to impose a special levy
The judge in that first court case dismissed the petition after concluding that the complex’s salvage value — its expected sale price if bought by a developer for demolition and redevelopment — might be less than the then-estimated price of $40 million for repairs. He left open the possibility a similar application might succeed on new evidence.
“Notably, almost ten years have elapsed since that petition and Gardenia Villa continues to face serious water ingress problems,” said B.C. Supreme Court Justice Maria Morellato in her ruling ordering the $16 million levy....
http://vancouversun.com/news/local-news/...lion-levy-to-repair-leaky-condo-problems
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