(Eaton) Lofts at 276

[danbrotherston]

I wonder if the condo fees for the Eaton Lofts will ever drop? Or does that that condo corporation have too much debt to get out from underneath? Geographically speaking, it would be my ideal place to live.

Borrowing by condo corps is heavily restricted and regulated. It requires passing a bylaw, and has a set term, and cannot be used for operating expendatures.

So certainly the financial debt (if they have debt, I don't know that they do) will be something that will finish up.

Operating expendatures can always go up and down depending on board policy. But reserve fund contributions (basically paying infrastructure debt) will depend on the building.

I don't know what the situation at the condo is re their fees, but if the situation causing the high fees were legal costs and a lack of a tenant on the first floor, I'd say those situations have resolved, and fees will at least stabilize.

Unfortunately, given the massive hike in construction costs this year, (not to mention operational costs from COVID) I don't think it'll be happening soon.