Rezoning passed unanimously.
Fixed terms cannot be terminated without a supporting clause in the contract in Alberta. If you sell a property that has a fixed term tenant living in it, and there is no clause to end early, the new owner will also have to wait for the contract to end.Leases can be terminated (and there is probably a clause in there that provides for that in this case). At any rate I wouldn't expect much action until Pangman's other nearby project is completed.
Hope this and the Shift go up roughly the same time. They would frame the central park from opposing corners very nicely. Love the new upcoming downtown Edmonton!
Ayre & Oxford "manage" El Mirador.Fixed terms cannot be terminated without a supporting clause in the contract in Alberta. If you sell a property that has a fixed term tenant living in it, and there is no clause to end early, the new owner will also have to wait for the contract to end.
I agree that there is likely a clause in this case though. Then again, who manages El Mirador? Property management companies aren't always the sharpest companies in the world (almost always requiring carpet cleaning upon vacancy in Alberta when the RTA says it isn't required unless there is excessive wear and tear - muddy boots worn regularly, cats/dogs peeing on the floor, etc - normal wear and tear is the landlord's full responsibility). Would not surprise me in the slightest to see someone forgot the early termination clause. ?
Pangman generally takes a slow approach though, so they could probably get other ducks in a row in the meantime.
I second that. Just look at the state of El Mirador. Disgraceful. I've lived here since 2004, and only minimum upkeep.Ayre & Oxford is useless...
If this is an offensive comment and will cause an issue I'll take it down but I speak from experience.