News Release Archive

NEWS RELEASE (CNS981) -->> BUSINESS AND CONSUMER
  SERVICES--CONDOMINIUM ACT CHANGE
  
  
  
  
  BUSINESS AND CONSUMER SERVICES--CONDOMINIUM ACT CHANGE
  -------------------------------------------------------------
  Amendments to the Condominium Act, recently passed by the
  provincial legislature, are good news for condominium
  developers, future buyers and the construction industry.
  
  The amendments will allow for phased-in condominium
  developments, meaning a development may be built in phases
  over a number of years. Previously, developers had to go
  through an approval process and register each expansion, or
  addition, to a condominium project as a new condominium
  corporation.
  
  Under the amendments, a developer may, for example, build 10
  units one year and another 10 units two years later. The plans
  of the developer must be made known at the time of registering
  the project so that potential buyers of units will be aware of
  the project's future growth.
  
  "The amendments only apply to new projects," said Business and
  Consumer Services Minister Sandy Jolly. "For the protection of
  condominium owners, existing developments must still register
  and receive approval for any proposed expansion.
  
  Developers have welcomed the legislation and at least one 80-unit project is now able to proceed. "The legislation will
  facilitate the phasing-in of active adult communities, the
  first of which will be built in Wolfville, " said Peter Green
  of AAC Developments, Halifax. He said phasing-in the project
  over three years "will permit the market to absorb the 80
  units."  Mr. Green said his community is planning other
  phased-in developments in various Nova Scotia communities.
  
  The provincial government is in the process of overhauling the
  Condominium Act and has distributed a discussion paper to over 
  650 interested parties. Ms. Jolly said these amendments
  allowing phased-in developments are separate from the
  Condominium Act review.
  
  "We had an opportunity to encourage new development and create
  jobs, which is why we are moving on these amendments, " the
  minister said. "We are accepting feedback on the discussion
  paper until March 31, 1997, and encourage anyone interested to
  respond."
  
  -30-
  
  Contact: David MacNeil 902-424-2933
  
  mfm                    Dec. 27, 1996    9:20 a.m.