News Release Archive
NEWS RELEASE (CNS981) -->> BUSINESS AND CONSUMER
SERVICES--CONDOMINIUM ACT CHANGE
BUSINESS AND CONSUMER SERVICES--CONDOMINIUM ACT CHANGE
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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."
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Contact: David MacNeil 902-424-2933
mfm Dec. 27, 1996 9:20 a.m.