A condo in Toronto recently made the news after levying a $14-million special assessment. The corporation gave owners 15 days to pay for repairs, ranging from $30,000 to $42,500 per unit. Claudia Pedrero, associate in the real estate group at Robins Appleby LLP, explains how other condo corporations can avoid this predicament. York Condominium Corporation (YCC) No. 82, which operates a 10 -storey, 321-unit building in the Jane and Finch neighbourhood, is facing the proverbial ‘perfect storm’ in condo operations, maintenance, and governance, with unit owners footing the bill. In September 2021, YCC No. 82 sent letters to all owners announcing an $11,235,000 special assessment. This
translated to $30,000 to $42,500 per unit, depending on unit size. After the special assessment was issued, a unit owner brought a court application seeking an order to compel YCC No. 82 to hold a requisition meeting to remove the condominium’s board of directors. The decision from Justice William D. Black of the Ontario Superior Court of Justice, released mid-January 2022, goes to great
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length to describe the state of the building and the many difficulties faced by the condominium. The engineering report described by the court illustrates a building fallen into a state of significant disrepair. A recent engineering report advised immediately installing shoring to maintain the structural integrity of the building. There are also defects in the underground parking garage
