The 10 acre development property contains an existing 2000 sq.ft. modern home with basement and attached 800 sq.ft covered carport. It is the Developers intention to convert this home to a common property facility within the development. Discussions with potential purchasers of the strata lots have questioned the necessity of the proposal and it’s associated costs. To resolve this issue, the developer has decided the following course to satisfy these concerns:
At substantial completion of Phase 2 of the development, the developer will poll the owners of the Strata Lots to determine whether they are in favour, or not, of the undertaking to develop it into a fully completed community common property recreational facility within one (1) year.
If the Strata council answer is no, or if the council fails to meet the 1 year time limit, the developer will have the option of demolishing the structure to create additional strata lots for his benefit.
Despite the foregoing, the developer reserves the right to proceed with the home conversion, at anytime, at his expense.