dt_toronto_geek
Superstar
It certainly is not. Can it be better? Are there areas that can be improved? Can new architecture be better? Absolutely, but it's far from dilapidated. I don't know where you come up this stuff.
Toronto's still dilapidated.
Toronto's still dilapidated.
Toronto's still dilapidated.
I've stayed in the Sutton Place each year for a number of years. It isn't dilapidated and neither is Toronto as a whole.
Now, Havana is dilapidated, though a gorgeous city underneath the flaking, unpainted concrete.
What are hotel occupancy rates like in Toronto these days? Is the industry doing well or struggling?
They’re refusing to go, saying they are protected by both a Toronto bylaw that prevents the conversion of rentals to condos and the Landlord and Tenant Act.
These tenents are they benefiting from below market rents because they have been renting for long periods, or did those old protections die out long ago? If anyone is getting a 900 sq foor unit for $850 per month, boot them out, its totally unfair.
The City of Toronto does have a policy regarding the conversion of "affordable" rental housing. But somehow I doubt the Sutton Place qualifies. My guess is the City will not refuse the developer on that basis.
The RTA does not prohibit the conversion, and does allow the landlord to apply to end the tenancy for the purpose of conversion to a condominium, but does provide rights and compensation to the tenant.
Since the conversion requires repairs or renovations to it that are so extensive that they require a building permit and vacant possession of the rental unit, the tenant is entitled to 120 days notice and entitled to compensation in an amount equal to three months rent or offer the tenant another rental unit acceptable to the tenant. Since it is also a condo conversion, the tenant is also entitled to right of first refusal to purchase the/a unit.
There's nothing "unfair" about it. Landlords & tenants have a business arrangement. The landlord business follows strict rules regulating that business, and therefore all involved know (or should know) the business arrangement they have entered into. Landlords who don't like it should not be in the landlord business. And tenants who don't like it should should find another business arrangement for accommodations outside of those regulated by the RTA.
A landlord who has tenants paying "below market rents" has no one to blame but themselves, as they negotiated the original rent, or knowingly acquired it when they bought the property. The annual increases set out by the province may not be equitable for the landlord, but you should have known that anyway. The landlord business is not for everybody, and is not a licence to print money, as some people assume.
It is my understanding, however, that there will be replacement rental units built as part of the new project and that any renter who wants to move back in will be able to rent one of the new rental units. I thought this was a requirment of law that when rental units were taken out of the market they had to be replaced but, rather, it may just be a negotiated item in the Section 37 Agreements for each project of this nature....(ie. in exchange for the increased densities the city negotiates that the lost rental units be replaced).
A tenant who exercises a right of first refusal may reoccupy the rental unit at a rent that is no more than what the landlord could have lawfully charged if there had been no interruption in the tenant’s tenancy. 2006, c. 17, s. 53 (3).