repairs: 1233 1235 1237 1239 west 7th ave
This is the backside of a development on west 7th ave, the ‘Casarosa’. Once the scaffolding and green netting is removed this is the side that will have the good view of downtown (unless that mushroom studios building in front is developed into something taller).
Photo credit to ‘kingleaky’. Send your tarp and scaffolding covered condo repair photos in to vancouvercondo.info@gmail.com for inclusion in the photo gallery.
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January 23rd, 2008 at 11:00 pm
My last building (Kitsilano wood-frame condo) was repaired before I bought into it, at a cost of ~$25,000 per unit, plus $3,000 per unit in legal fees. The lawsuit eventually recovered $4,000 per unit out of the architect’s insurance company.
January 23rd, 2008 at 11:00 pm
Thanks for the links milo, thats a pretty crazy bill. Most of the repair bills I’ve heard of have been around 50 – 80k per condo, but thats for smaller units.
January 23rd, 2008 at 10:58 pm
Singtao has a story on residents plagued with over $100k-per-unit leakycondo repair and legal costs that push up the monthly condo fees to >$3000 per month.
3 buildings totalling 237 units under the same owners strata have paid legal fees of nearly $1.5M between 2003 and 2007; and a further $1.2M is allotted for legal fees, in addition to $29M to repair the leaks.
Resident Dave said his share of legal fees will be $4,640 and repair costs $120k.
Half of that legal fees (4640/2=) $2,320 had to be paid by December 15 last year.
1/3 of the repair costs $34,800 must be paid by middle of January this year,
Balance of ½ legal fees and 2/3 repair costs to be paid by monthly instalments –
Hence Dave’s monthly payment (over $3,200) consists of:
- nearly $400 strata fee
- $100 legal fees
- $2,706 repair costs
http://tinyurl.com/2qf6v3
Dave said that the terrace units are the first to face leakage problem .
http://tinyurl.com/32h9f5
Soon after the completion of the building, the external walls of some units found seepage.
http://tinyurl.com/3exjtz
Dave said that the three apartment buildings will require a total of C$29 million for comprehensive maintenance.
http://tinyurl.com/yu54ml
BC Expo86 land was sold in 1988 for around $300M.
Governor’s Tower, Governor’s Villa I & II were built between 1994 and 1995; each unit over 1000 sq ft was originally sold above $200K, about the sale price of a SFH in Richmond at that time.