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Interesting Article about " Condo Game "

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  • Interesting Article about " Condo Game "

    check out for yourself



    http://www.cbc.ca/doczone/episodes/the-condo-game
    Edmonton Rocks Rocks Rocks

  • #2
    Two words- Due Dilligence.

    Having said that, I found the documentary a bit one-sided. Nowhere did they mention that these new downtown condos were largely built on abandoned industrial land. IMHO, turning brownfields into residential sites is a good thing in itself, never mind all the city taxes generated (regardless of whether the condos are owned/rented, occupied/unoccupied) from what used to be economically worthless eyesores.

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    • #3
      Watching it now. Very interesting. Sounds like Toronto has some major problems ahead of it.

      The Condo Game - Doc Zone

      "Although the documentary focuses primarily on Toronto, as it unfolds warning bells will be ringing loud and clear for cities and condo-owners across Canada. With its population exploding, Toronto placed a big bet on condo towers. Their number has doubled in the last decade. "

      ...
      "Toronto is at a tipping point. And the city’s condo story is a cautionary tale for all Canadians and their communities."

      http://www.cbc.ca/doczone/episodes/the-condo-game


      ~
      Last edited by KC; 14-09-2014, 08:36 PM.

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      • #4
        I'm asking those on the board who would know because I simply don't: to what extent are we likely to get the same sorts of problems here? And if things are different here, why?
        “It’s so beautiful. What sort of bird is that?”

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        • #5
          The Condo Game

          I watched this CBC Doc Zone presentation and thought it was very interesting. Do we need to be worried about what happened in Toronto happening in Edmonton?

          http://www.cbc.ca/doczone/episodes/the-condo-game
          It's not EIA it's YEG

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          • #6
            Yeah, it was an excellent show.

            Loaded with "Telling it like it is" stuff. The discussion of the degree of wealthy offshore investors (absentee landlords) buying in bulk resulting in something like 80% of units in some tall buildings being rental units was surprising. Then there was the failing construction, short expected lifespans, lack of family orientation, with a mention of a successful Vancouver complex, etc. I also really enjoyed the dirty little secret among condo owners discussion. (I'd guess some neighbourhoods operate the same way. 'Material' orientated people 'spinning' the image of their upscale neighbourhoods, schools, etc. because they have so invested (financial, reputation and otherwise) in their homes.)
            Last edited by KC; 15-09-2014, 03:37 PM.

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            • #7
              Merged threads

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              • #8
                Originally posted by Idealistic Pragmatist View Post
                I'm asking those on the board who would know because I simply don't: to what extent are we likely to get the same sorts of problems here? And if things are different here, why?
                No more or less. Problems stem from poor decisions, rushed design, rushed installation, lack of inspections/review, assumptions and questionable specifications.

                We have seen buildings here with envelope failures after only a few years, others with large special assessments for poorly thought out systems or design choices, others with cheap workmanship that developers walk away from.

                It all comes down to due diligence, buying from reputable developers who build with reputable contractors all of whom who have a proven track record.

                One interesting note:

                AB is still using a building code from 2006 (We are still reviewing 2010 if I last recall), whereas Ontario is at 2012.


                Ottawa-Edmonton-Vancouver-Edmonton

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                • #9
                  Stay away from dodgy developers out to make a buck, except if they're coming to Edmonton, at which point ignore their profiteering & welcome them like conquering heroes.

                  *cough* Brad Lamb *cough*
                  Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

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