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Condo Conversion Has Started
From:
-Anonymous-
Date posted:
8/4/2005
Years at this apartment:
2005
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2005
The complex has been sold and they are starting the conversion process in just under 90 days. Paper says the buyers paid $53M for the place which they say works out to some $210K per unit. Units aren't saleable as is so I'd guess they are going to need to do some major renovations before they sell. A 1BR will probably go for $250K minimum. Seems steep for a 20 or so year old complex with mold problems ( shoulda seen the technicolor coat closet in my 2BR ). Previous tenants had been there 10 years and I wasn't really happy with the cleaning job done in the kitchen plus there was the odd old cooking odo(u)r from time to time. Not unpleasant but not what one expects. Only real problems I had were with noise from the High Country Plaza next door which, to their credit, the biz owners and plaza management handled well. A more serious problem is that the garbage truck arrives at 0700 on Saturday morning and has to back ( BEEP, BEEP, BEEP,... ) in to get at the bins. Apparently this is legal after 0700. One gentleman made the mistake of arriving at 0650 one morning, his ass was mine. Hustled him off the property real quick. Management could not or would not do anything about it. More fundamentally, I moved into the area on my employers nickel in Feb. The couple downstairs just moved in last month and now have to find a new place in 90 days. Nothing was mentioned about the complex being for sale or any conversion. Now I'm faced with moving at my own expense. The paperwork says the neighbourhood was setup to allow condo conversion from the get-go so no lengthy approval process was required, just sell and convert. I have to think the staff knew about the complex being on the market when I moved in. Now I'm not sure what their legal responsibilities were but ethically RREEF should have told potential tenants this was a possibility. For this I'd like to nail their collective heads to the floor. RREEF sucks and I have to say I do not wish the new owners well of their endeavo(u)r.
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