Minority victory: Vancouver condo owners win battle against building sale
04 October 2017
It’s home, relief, home for a small group of Vancouver condo owners.
They won a B.C. Supreme Court ruling that dismissed their neighbours’ attempts to sell their building.
More than 80 per cent of strata owners at Bel-Ayre Villa at the corner
of West 10th Avenue and Burrard Street had voted in January to accept a
developer’s offer of $19 million for the building.
However, some of the hold-outs took the case to court to fight the sale.
As reported in Business in Vancouver, B.C. Supreme Court Justice Warren
Milman ruled September 21 that the strata corporation did not follow
the process set out in Bill 40.
Milman said the strata corporation had failed to provide owners with an
interest schedule prior to the sale vote. Instead, owners received the
schedule after the vote, which is contrary to the law.
The interest schedule sets out how proceeds will be divided among
owners, as well as all mortgage charges against units in the building.
“We could not have hoped for a better outcome to know our daughter will
be able to remain in a home she loves,” Christine Raverty told BIV
after the ruling. Sshe and her husband Steve Handy bought the Bel-Ayr
Villa suite for their daughter in 2012 and rejected the sale offer.
They expected to receive about $750,000 for a unit that was assessed at
$441,700 as of July 1, 2016. “The displacement of our daughter from her
home, and the disruption of this event to her life, is the most
important reason to oppose this process,” Raverty told BIV in August.
As well as having other concerns, her daughter owns a dog and was
afraid she would not be able to find temporary accommodation that
allowed pets. There were also costs involved in the sale and moving.
Bel-Ayre strata council president Glenda Monts told BIV that she was
disappointed with the ruling and that the council is reviewing its
Raverty, however, does not believe the strata has the funds to restart
the process. She also told BIV that some owners have changed their
minds about selling and doubts the strata could exceed the 80 per cent
threshold a second time.
The Bel-Ayre sale is the first to be dismissed after regulations were
loosened in 2016 to allow for strata sales as long as 80 per cent of
owners were in support and a B.C. Supreme Court judge approves the sale.