This development was registered as a condominium in 1971 and consists of an 18-storey building containing a total of 215 residential units, a single level underground parking garage.
The Reserve Fund Study provides the Board and Management with the information needed for budgetary purposes. Detailed in the study are realistic assessments of the amount of money to be put aside, or reserved, every year to meet future major repair and essential replacement costs of this development. It is a mandatory requirement of the Ontario Condominium legislation. A Class 3 Reserve Fund Study is based on financial analysis, so comprehensive review of financial and reserve expenditures was conducted. A Reserve Fund Study report was issued including a 30-year, 45-year, and 60-year cash flow schedules of reserve funding of the predicted capital and maintenance cost expenditures.
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