Popular condo conversions have renters worried
Last Updated: Tuesday, November 14, 2006 | 3:54 PM MT
CBC News
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The conversion of apartment buildings to condominiums has a growing number of Edmonton renters worried they'll be pushed out of their homes.
Renter Marie Lepine has lived nearly 10 years in her apartment in the neighbourhood of Old Strathcona.
But her apartment building is being renovated and converted into condos, forcing her to make a choice by June between buying her apartment and finding a new place to live.
"I'm at a loss. I can't afford $200,000-plus for a one bedroom apartment."
Edmonton housing prices have jumped by about 40 per cent over the last year and vacancy rates for rentals have dipped to about 1.5 per cent.
The Canada Mortgage and Housing Corporation says there could be upwards of 500 people in the same situation as Lepine in Edmonton.
More complaints to city hall
City councillors say they have been getting more complaints than usual from renters about condo conversions.
But Jay Freeman, Edmonton's director of housing, says apartment conversions aren't at the top of the priority list. Even if they were, there's nothing the city can do about it, he said.
"That requires provincial legislation, it's not something the city can enact by itself. The province would have to enact the legislation."
Fred Laux, a planning law specialist, says the city could put a moratorium on conversions and challenge provincial legislation.
The City of Vancouver requires two-thirds of the tenants to agree to a conversion before it happens.
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