Thursday, April 06, 2006

Condo Boom Continues

Condo boom spells end for apartment complex. The demand for condominiums increase in the past few years. Ottawa apartments will be converted into condominiums this year. Company hopes to begin selling condos, and tenants will be given the opportunity to buy their units. Work is scheduled to begin within three weeks to turn the one-, two- and three-bedroom rental units into condominiums with newly installed air conditioning, washers and dryers, and remodeled kitchen and baths. Some residents and officials are concerned about the loss of affordable housing in Ottawa.
Also the centre of Toronto is closing on March 1 because a real-estate developer has bought the building and will soon tear it down to begin condominium construction.
Rampant development is pushing small theatre companies out of their homes and into uncertain futures after the Conservative Party had cut Ontario arts grants so deeply.


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