[GS8]

Originally Posted by Mr.HappySilp

^^ You do know that it takes years and I mean years and years to get all the permits, docs, the go ahead light to build a large complex. If the developer needs to change the land use or need some rezoning permits it could even take longer. By the time to get all the paper work done it will be 5 years if they were lucky. Some of the low raise I see around town is like empty for at least a year waiting to be torn down.

It might be a waste to torn down buildings that's only 9 years old but they could build an apartment with a few hundred units to house a lot more people.

And that's how developer works. They start buying the land piece by piece and slowly wait for the permits. Coz the gov like to take things slow. I do feel bad for the seniors who have to move and now have to pay a much higher rent. I only hope they get a good compensation package or maybe the gov can even put them in care homes.

I always wonder what will the gov do with older apartments that's like 40 or 50 years old. We haven't really reach that point yet but it will one day. I mean those buildings can't be standing forever and the cost to maintain them will only get higher and higher each year. Will the gov have some plan force buildings over a certain time needs to be taken down and rebuild? Or they will be left to rot till the structure is not safe anymore then step in. What will happens to all those that's living there? I feel this is something the gov should looking into it as more and more high raise are being built it will come soon. Some buildings I seen in the market are around 20 years old (think of the older apartments around Joyce is been around as far as I remember). Some on them are in pretty bad shape.

I'm fully aware of how the process works. In fact, I know we were supposed to be out of this building by June of 2019, but they pushed it to Dec 2019 due to how many seniors there are. It doesn't matter if they start demolishing the building on Jan 1, 2020 or Jan 1, 2021. Either way, the building will be cordoned off like the strip mall nearby already is. I'm merely providing an insider's POV should anyone be curious about what it's like to deal with. This is a very popular thread after all. Second most popular RS thread possibly?

Originally Posted by Traum

First thing I thought of when I started reading your post was -- that's exactly what is happening to those who are getting evicted around the Metrotown neighbourhood. I obviously do not know where you live, but I sympathsize with your situation as much as I do with those getting demovicted around Metrotown.

One thing that struck me as add though is -- why did the building owner not dispute the property tax hike? Granted, the disputing process is almost certainly worthless anyway. But for the property tax of your lowrise to be equivalent to that of a large tower -- either that doesn't make any sense, or the property tax of the said large tower would be even bigger.


This point kind of hits home for me as well, since I have witnessed similar incidents happening in HK at a semi-personal level. Esp for the long time residents, the move is devastating because it is literally destroying the community and way of life that they have grown so accustomed to. I can't speak for your situation here, but in the one that I had some familiarity with, the neighbours have really grown to know the majority of other residents, and in some cases, the neighbours have grown to become an informal support network for one another. When people get displaced and dispersed, even when they have been compensated appropriately, the destruction of that community and the bonds that existed were really all gone. And along with it, that support network and way of life were all gone too.

One question that I've always had though -- for those who are renting, what sort of assistance is the new developer providing at all? Since the residents are renting, I personally don't see any legal obligations that might bind the purchasing developer to follow through on. They are obviously serving you with a ton of advanced notice. Does that mean you are SOL on the assistance front?

Best of luck with your apartment hunting.

Thanks.

It's possible the former owners did try to dispute it (I didn't ask) but it would probably be an SOL outcome.

Our developer is providing some assistance. I can't remember all of them but the ones off the top of my head are moving expenses being covered and the first month's rent at a tenant's new dwelling will be covered as well. They hired a third party tenant relocation group who's job is to relocate people to new places. I'd be very curious to know where they plan to transfer people to. Can't be anywhere too close by since the whole area is transitioning.

I have a friend who lives in a building going through a renoviction process and all tenants have banded together to find some sort of legality that could work in their favour. The property managers' intents are too remove them from the building and give them first dibs after the renos are complete (with much higher rent than they were paying prior). No grandfathering.

Originally Posted by lowside67

With respect - while property taxes are certainly going up based on appreciating land value, I bet that's primarily just a sob story they fed you.

What's the address? The property tax amount is publicly available for last year and this year - let's find out.

-Mark

As of now, I won't post building details yet but it looks like Quasi's friend experienced the same thing and in the same city no less. I'll look at the numbers but the person who gave me this information was not some random rambling tenant but someone who would have access to that sort of information from its original source.

When I was living in Richmond, I rented a strata property. It wasn't bad though the suite's layout was awkward as hell to navigate around. I might just rent a strata in Coquitlam for my next place.

Either that or be a nomad.