Legislation could prompt wave of stratas to disband, sell whole buildings to developers
Some two dozen stratas across Metro Vancouver are positioning themselves to dissolve and sell their entire buildings to developers, according to Tony Gioventu, executive director and strata property adviser for the Condominium Home Owners’ Association of B.C. “In the next months, stratas will be starting to act,” said Gioventu, adding the rough estimate of numbers is based on his organization’s dealings with law offices and commercial brokers. “We know of 25 stratas looking at liquidation. (Most) of them are within two blocks of a SkyTrain station.” Read the article…………….