Fort Mac, Penhorwood condos updates?

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Fort Mac, Penhorwood condos updates?

Are there any updates about the bad condos?
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Re: Fort Mac, Penhorwood condos updates?

Unread postby mcmurrian » Tue Aug 23, 2011 12:52 pm

Apparently the lawsuit is moving forward, with examinations for discovery slated to finish in November.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby mcmurrian » Wed Aug 24, 2011 6:33 am

Condo Board Chair, Christine Burton wants to give seven buildings a new look.
"Ask local artists to participate in painting the plywood on the windows and doors as an expression of what the people of Penhorwood have actually experienced in the evacuation of the buildings and their ongoing struggles to get their lives back together," says Burton.
Artists who sign a waver to enter the locked gates of the Penhorwood properties will be able to participate

A civil lawsuit by condo owners is expected to go to trail in September of next year.
For more information on how you can contribute to the Wood Buffalo Artists forum project, email artistsforum@gmail.com.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Thu Oct 06, 2011 5:13 am

Just to give an update on the Penhorwood situation.
Condo owners are intstructed to vote next week from October 10th to the 17th as to what they want todo:
    sell the land now
    repair the buildings
    rebuild the buildings, wait until the lawsuit settles or get the funds to rebuild the buildings
    borrow the money now and start rebuilding right away

The Penhorwood buildings have been sitting empty since March 2011
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Tue Oct 18, 2011 5:52 am

A second ballot is needed to decide the fate of the seven condominium apartment buildings on Penhorwood Street.

The first vote wrapped up last night, and 140 of the owners cast their ballots over the past week. The two remaining options will be to borrow money to repair the buildings, or to sell the land they’re built on. The second ballot voting is expected to start at the end of this month.

A $60-million lawsuit is also still ongoing between developers and investors.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Tue Nov 08, 2011 8:06 am

Penhorwood Apartment owners support the tearing down and re-building of their former homes.

In a second vote, between re-building and selling the land, which concluded last night, 77 per cent of owners decided to start over.

It's unknown when work will begin as the condo board must still come up with the over $30-35 million dollars to rebuild the seven downtown apartments.

Over 300 people were evacuated overnight in March after the unites were deemed unsafe.

Meanwhile, a $60 million lawsuit continues to make it's way through the courts.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Thu Dec 01, 2011 7:45 am

Legal wrangling by the defence could stall the demolition of the Penhorwood Apartments.

Owners evacuated from the downtown condos are involved in a $60 million lawsuit against more than 20 parties, after an inspectors report deemed the buildings unsafe in March.

Despite a consensus to tear down and rebuild Condo Board Chair, Christine Burton says it will be up to their lawyers to trigger the wrecking ball.

"We're under a an obligation under the lawsuit to mitigate any potential losses or further damage to the buildings, so we're looking at all those particular factors right now to make sure that we keep the buildings in as best possible shape as we can until the decision to demolish or move forward on some other strategy is made," said Burton.

Burton says a team of their engineers will be on site this week, inspecting the shifting foundations and assessing how to maintain the crumbling condos over the Winter.

It will cost more than $30 million to rebuild.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Thu Feb 02, 2012 11:24 am

The finance company behind the construction of the now crumbling Penhorwood Condos is being added back to the list a defendants.

Reversing the decision of a Commissions judge, the Alberta Court of Appeals has deemed that MCAP can be found financially liable in a $60 million lawsuit.

Condo Board Chair, Christine Burton says, judging by the courts decision, the lawsuit is built on a strong legal foundation.

"The court uses some very interesting language, in describing the Condo Act and it's purpose in protecting condo owners particularly those who buy condos in advance of being completed, they refer to the idea of developers who promise much and deliver little," said Burton.

Burton says she's very proud of the owners for their resilience throughout the past 11 months, adding that a couple of those involved in the litigation have recently been forced to mortgage their homes.

The financing company is not the first of the more than 20 defendants to attempt to escape litigation.

Last year the apartment's owners voted to borrow the money to tear down and rebuild the downtown condos.
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Re: Fort Mac, Penhorwood condos updates?

Unread postby betsi » Wed Jul 04, 2012 1:21 pm

The condos were supposed to be torn down by now, anyone know why the demolition is delayed?
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