A recent B.C. Supreme Court decision has paved the way for owners of an apartment and townhouse complex in North Vancouver to sell to a developer – despite the wishes of some owners to stay put.
B.C. Supreme Court Justice Lauri Ann Fenlon recently sided with the majority of owners of Seymour Estates on Lytton Street, who asked the court to approve the sale of the entire property.
That decision satisfied the vast majority of owners, who argued in court they’ll get more money by selling as a group than they could individually and avoid potentially costly repair bills as the 40-year-old complex ages.
For a small group of owners, however, the decision could force them to move off the North Shore, where they have community ties, if they can’t find similar affordable housing – or out of the housing market entirely.
Read more: http://www.nsnews.com/news/judge-backs-forced-sale-of-north-vancouver-complex-1.810849
