Hey guys, I read the cover story in TO Life that Marsh is referring too. Since its the July issue you won't find it on their site yet, but they do post them a month or so afterwards. The article is worth reading though, and if you can't wait a other month to read then I suggest reading through it at your local Chapters/Indigo.
While most of the article is common knowledge to most people on UT, there are some other things I did not know. Some highlights:
They discuss the falling balcony glass issue that plagued Tiff, Burano/Murano, 1 Bedford, etc. the problem with the glass is that it cannot be traced to one single manufacturer (some from China, some from US) and it is uncertain if weather is the culprit.
The double edge sword of developers using section 37 to get their way and the city living off the proceeds of property taxes. Councillor Carrol likens the relationship with the city amd developers to a P3 type deal
Shoddy construction materials and trades who are pressured to move quickly is discussed. No surprise here, the quality of new builds (sound proofing in particular) sucks for the most part.
They discuss how even those who live in a building that has some sort of deficiency don't want to speak up because a) don't want to get cease and desist letter from developer b) if you speak up you are letting everyone know your building is shit and it will impact resale value
Leaky balcony/window wall arrangement plaguing many buildings (particularly CityPlace).
Apparently, Optima, the building on Navy Warf has a whole host of problems (law suit filed years ago still hasn't gone to court) and quote '...lenders and insurance brokers have already taken notice of Optima's situation, and some have reportedly refused to insure mortgages for that property. As a result, Optima's unit owners could find it difficult to sell to anyone who wants to buy with a downpayment less than 20 per cent'...of course the problem is the type of person that will buy such a unit is a first timer who will need CMHC. The article goes I'm to state that 'Optima is not the only Toronto condo tower on what broker's call the 'black list'' --> was not aware of this at all
Article concludes with a summary of MPP Rosario Marchese's private members bill for better transparency and amendment to Condo Act. I think this is a really good idea and wish more people get behind it.