'Living in limbo': B.C. condo owner concerned after strata council implements new age restriction
Brianna Pascoe has penned a letter to B.C. Premier David Eby after the strata in her Duncan condo building voted to enact a 55-plus age restriction bylaw.
"I am now a 30-year-old stuck in a retirement building," Pascoe said, reading from her letter. "I no longer have a nice little stepping stone for my future."
The vote was 19 to four in favour of the bylaw change.
The letter is asking Eby to close what she calls a loophole created by recent changes made to the Strata Property Act.
"Condo buildings that weren’t previously 55-plus, they have been allowed to change to a 55-plus building to avoid having to enact the changes he’s put in place," said Pascoe.
Tony Gioventu, executive director of the Condominium Homeowners Association of BC, says there's a reason why some stratas may be making a similar move.
"Strata corporations have kind of moved towards 55 and over bylaws in some cases because it gives them a smaller kind of rental target," he said.
That change leads to a smaller rental pool, one that is guaranteed to be 55-plus.
Gioventu says a few hundred stratas in the province have already taken this step.
"I had purchased the unit in hopes of it being a nice little stepping stone," Pascoe told CTV News.
She now feels the value of her unit has been compromised.
"In my opinion, it definitely impacts market value negatively," said Marko Juras, a realtor with Fair Realty.
He says because the changes to the Strata Act are so new, hard data doesn’t yet exist. He is seeing condos with the 55-plus restriction in place selling for five to 10 per cent below market value.
However, the Condominium Homeowners Association disagrees, saying the housing shortage is keeping sale prices stable.
"We have such a housing shortage, we’re not seeing that at all," said Gioventu.
B.C.'s premier says changes are coming to the Strata Act.
"We’re currently doing the policy work," said Eby. "We will be doing amendments to address this issue of people who live in buildings that then convert to 55-plus."
What those changes will be, the premier isn’t saying yet.
"I just feel like I’m living in limbo," said Pascoe.
For now, Pascoe is going to have to wait and see if those changes will effect her future plans and the investment she has made.
CTVNews.ca Top Stories
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Ex-tabloid publisher testifies he scooped up possibly damaging tales to shield his old friend Trump
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
Here's why provinces aren't following Saskatchewan's lead on the carbon tax home heating fight
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams, Jayden Daniels and Drake Maye make it four NFL drafts with quarterbacks going 1-3
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.