Forward | Unsubscribe | Sign Up | Archives April 7, 2017
1. Unit owners sell boutique buildings to developer
The sale of a property in midtown Toronto that closed in January marks Ontario’s first case of unit owners terminating a condo corporation by vote. Under section 124 of the Condominium Act, at least 80 per cent of both mortgage holders and unit owners must agree to the sale of a condo property for this type of transaction to proceed. Most of the 27 unit owners at 39 Roehampton Ave. voted in favour of accepting an offer from a group of investors including a developer with plans to intensify the site.
2. CRE subpar for women in C-suites and on boards
The presence of women in C-suites and boardrooms of the Canadian real estate industry appears even rarer than their already modest profile in the broader economy.
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3. B.C. approves new $100 million ski resort
A new $100 million ski resort near Valemount, B.C. offering year-round glacier skiing has been approved for construction.
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4. MPP proposes time limits for elevator repairs
Han Dong, the Liberal MPP for Trinity-Spadina, is proposing to set time limits for contractors called on to fix out-of-service elevators.
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5. Saskatchewan landlords lose key exemptions
Saskatchewan landlords experienced a budget double whammy — receiving the more forceful cost hit from their provincial finance minister.
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