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The fears are overstated. A well managed building will do just fine, and survive much longer than 10 years. Luna/Luna Vista at CityPlace is now approaching 5 years old with absolutely no issues. Maintenance fees have never increased since it was built, and the reserve is much larger than required. Management has been pretty proactive with anything that may eventually become an issue (ie. Elevators were problematic, but management negotiated free maintenance for an extended period, and purchased spare parts to ensure that they are ready for anything that may happen in the future).

I don't think any of the older buildings are facing any issues either. Matrix/Optima had the balcony issue, however, it was repaired at no charge to the homeowners. We're talking about 21 buildings built throughout this boom within CityPlace alone that are faring quite well so far, with only two buildings having issues. If CityPlace can manage, I don't see why other buildings would be in trouble, especially since many are much higher quality.

The falling glass issue at Shangri-La had nothing to do with maintenance or becoming a ghetto. It was a supplier issue.
 
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^^^

Furthermore, the glass that fell from Trump was due to a construction accident - not because of an outdated building code or building code violations. Disingenuous, shoddy reporting makes this article lose credibility in my eyes. Reads more like a scare piece.
 
Ramako said:
^^^

Furthermore, the glass that fell from Trump was due to a construction accident - not because of an outdated building code or building code violations. Disingenuous, shoddy reporting makes this article lose credibility in my eyes. Reads more like a scare piece.
Click to expand...

There was a more recent incident, long after construction finished...

The call to action comes a day after pedestrians noticed a large panel dangling from a room on the 52nd floor of the Trump Tower, forcing the closure of Bay and Adelaide streets Thursday night and into Friday afternoon.
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http://globalnews.ca/news/1193652/bay-and-adelaide-closed-by-dangling-glass/
 
This is a rehash of the Market Place report from a couple of years ago.
I have no doubt that the skins which are windowed may well have to be replaced in 20 years. On the other hand, while it may be expensive, this is not much different than most houses which have windows replaced in 20-25 years. Granted it will be more expensive.
I personally don't see the buildings like Trump or Shangrila if they have well healed investors/occupants not being able to come up with the money. The problem would more likely be with the entry level units down the road.
That said, it is not in a developer's interest to build shoddily though it is to try and do product with a minimum cost. However, they do have reputations and the better ones will try to turn out a descent product.
I believe the problem with the boom and the limitations of construction people have resulted with a number of less than qualified people working on job sites. Also, in some cases, the material choices have been made to put lipstick on a pig....beautiful finishes which people see on top of poor shoddy construction.
 
Actually the Matrix still has a pending lawsuit that the Condo corporation launched in 2007. CMHC won't insure the building. To purchase in the building you will need a minimum of 20 percent down. 81 Navy Wharf now has the same problem.
 
drewp said:
Actually the Matrix still has a pending lawsuit that the Condo corporation launched in 2007. CMHC won't insure the building. To purchase in the building you will need a minimum of 20 percent down. 81 Navy Wharf now has the same problem.
Click to expand...

I don't see those lawsuits being settled anytime soon. What a shame.
 
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