Tag Archives: Linda Pinizzotto

Building a Better Condo Act

Stronger Ontario Building Codes to keep Condo Owners Safe

If we go back to the time when Municipal Affairs and Housing Minister, Kathleen Wynne announced changes to strengthen the Ontario building code to help prevent balcony glass of newly constructed buildings from breaking and keep Ontarians safe in high-rise buildings.

http://news.ontario.ca/mah/en/2012/06/ontario-strengthens-requirements-for-balcony-glass.html

While this initiative is an excellent start, Ministry of Municipal Affairs and Housing needs to address the inefficiencies of the New Home Warranty Program and Tarion Warranties for new construction and the limited 1-2 years warranties on existing buildings. These warranties do not protect the value of a $80 Million dollar condo building when the time period and list of coverages are similar to those of a single family dwelling. There needs to be a separate coverage to address multi-family residential condominium buildings. Continue reading

Maintenance Fees

FINANCIAL STRUCTURE OF A CONDOMINIUM

What determines your Maintenance Fee?

The Condominium Financials includes the operating budget, surplus of funds, contingency funds and the reserve funds of the Corporation.  The maintenance fee for each unit is assessed in relation to the square footage of the unit, parking and locker (if included).  The Budget will include all of the expenditures based on a fiscal year of operations. Continue reading

Condos to Replace Princess of Whales Theatre

Courtesy 680 News Toronto:

Theatre producer David Mirvish and architect Frank Gehry unveiled plans, Monday, to tear down the Princess of Wales Theatre and replace it with a new condo complex.

The complex will feature three 85-storey residential towers, a 60,000 square-metre art gallery called the Mirvish Collection, a new campus for the OCAD University, and retail space.

It will stretch along the north side of King Street West from the corner of John Street, across Ed Mirvish Way and east to the edge of the Royal Alexandra Theatre.

“These towers can become a symbol of what Toronto can be. I am not building condominiums; I am building three sculptures for people to live in,” Mirvish said.

The three condo towers will create one of the tallest structures in North America.

Mirvish said the project will be done in three phases and will take up to seven years to complete.

Have your Say about this.

Do you agree with tearing down The Princess of Whales Theatre?

  • No (60%, 3 Votes)
  • Yes (20%, 1 Votes)
  • Don't Care (20%, 1 Votes)
  • Undecided (0%, 0 Votes)

Total Voters: 5

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Stronger Ontario Building Codes to keep Condo Owners Safe

Stronger Ontario Building Codes to keep Condo Owners Safe
Municipal Affairs and Housing Minister, Kathleen Wynne has announced changes to strengthen the Ontario building code to help prevent balcony glass of newly constructed buildings from breaking and keep Ontarians safe in high-rise buildings.
http://news.ontario.ca/mah/en/2012/06/ontario-strengthens-requirements-for-balcony-glass.html
While this initiative is an excellent start, Ministry of Municipal Affairs and Housing needs to address the inefficiencies of the New Home Warranty Program and Tarion Warranties for new construction and the limited 1-2 years warranties on existing buildings. These warranties do not protect the value of a $80 Million dollar condo building when the time period and list of coverages are similar to those of a single family dwelling. There needs to be a separate coverage to address multi-family residential condominium buildings.
Today’s announcement relating to new Ontario rules and better building codes to prevent glass from breaking off high-rise Balconies was another example of how COA is helping Condo Owners. COA worked with CBC news “throw-away buildings: Toronto’s glass condos. Falling glass from balconies from several buildings in downtown Toronto created major issues of safety concerns for owners and the general public. The Condo Owners Association – (COA) reported problems relating to glass balconies and deficiencies relating to energy efficiency supporting a CBC special featured story by John Lancaster.
http://www.cbc.ca/news/canada/toronto/story/2011/11/13/tor-glass-walled-condos.html
http://www.youtube.com/watch?v=w0a9q_DqF1o
Value issues relate are affected by unwarranted costs relating to premature deficiencies which fall past the minimal and limited Tarion Warranties. COA has played a very active role in moving forward for a better understanding of the problems and bringing this information to the forefront. Cam Wooley’s “Know your Rights” on CP24 welcomes our input as well as Matt Galloway – CBC Metro Morning in conversation with Linda Pinizzotto, Founder, President/CEO of the Condo Owners Association about the risks condo owners face and the limited protection they have. Listen (runs 6:54)
RADIO
http://www.cbc.ca/video/news/audioplayer.html?clipid=2102259830
CBC NEWSBROADCASTING ON CBC NEWS AND THE NATIONAL
http://www.youtube.com/watch?v=vZglE1czXyo
COA continues to work with Government to embrace the issues to help Condo owners ensure their safety, investment sustainability and good business infrastructure of the condo world.
The mass construction of Condominiums in the past few years has identified over 1.3 million Condo Owners in our Province. Last Friday, our Ministry of Consumer Services announced “Building a Better Condo Act” to modernize the present Condo Act (1998). The Ministry of Municipal Affairs and Housing needs to participate to embrace resolutions to the Act relating to safety and better construction standards. Specific requirements and restrictions relating to the construction aspect of new and existing Condo Corporations.
All information and comment on articles geared to Condo Owners and Condominiums should include comment from COA Ontario as the governing body of COAtoronto, COAmississauga, COAottawa etc. COA has chapters in each City across Ontario
– See more at: http://www.oreablog.com/2012/06/ontario-government-introduces-stricter-requirements-for-balcony-glass/#sthash.MSPIFjTH.dpuf