General Urban Kitchener Updates and Rumours

[tomh009]

"City must prepare for thousands of new downtown residents"
https://www.therecord.com/news-story/987...residents/

Generally in agreement with the story (and the professor), although I am mystified why this building boom would cause problems for condo boards, any different than what those boards deal with today.

I believe that any condo being built will have a solid idea of proper condo fee's for maintenance. I believe that the current ones are far from cheap, more than enough to cover any serious issues.

The developers tend to err on the low side with the condo fees, unsurprisingly so. But once the condo board does the first reserve fund study, the reality hits, and the reserve contributions are reset to a sufficient level. Unless the board intentionally hides the presence of short-term rentals, the engineering firm will account for those in the reserve fund study and adjust accordingly.