Most recently, I was involved in 2 condominium sales of a different nature. The "Villeneuve" project is a renovation/restoration project of some 47 units on 3 Streets in Montreal. The buildings are triplexes (3 units per building). On Villeneuve Street they extend from Jeanne Mance eastward to the next Street which is Esplanade. Bordering this row of buildings on both Jeanne Mance and Esplanade are 2 semi-detached buildings on each Street.
A unique feature of this complex: a boiler heating building at the back with a studio condo unit newly added within. This is the central water boiler heater for all units within the complex. I understand this was the first and now only remaining exterior central heating unit left in Montreal and therefore quite unique, adding to the historical value of the complex.
The interesting part for the real estate community is how the complex was re-structured by the renovator to allow current renters to remain while the complex was slowly renovated for resale.
Consideration had to be given to the city's requirement to maintain the boiler room building within the complex and to respecting the province’s laws. To accomplish this, a Horizontal condominium association was formed to account for the common areas within the complex including the boiler building. As the renovator's intention was to sell off all the units, they then created an undivided structure for each triplex (building with 3 floors, 3 units). This was called the Vertical condominium association and there is one for each building.
A little segue here for explanation: The law in Quebec does not allow a building to be a divided condo unless there is a resident owner for each unit within a building. Should a condo association agree to allow its owners to rent out their condos then it is okay as it is within the rules of the government’s definition. This undivided status allowed the renovator to sell off one unit at a time within a building.
The way this was done was for the renovator to own unsold units, rented out or unoccupied, and for new condo owners of units to own the building together within the undivided category. Once all 3 units in a building are sold, they can then apply to be converted to divided condo status with the government. For more information on the difference between Undivided and Divided condominium status in Quebec, please read my blog titled: “Condominiums: What are the Types of Co-Ownership in Quebec”.
Photo below:
The photo at left shows the old storage sheds restricting views out the back. The photo at right is the most recent. The balconies were opened up and smaller storage sheds installed. A new fence, balconies, stairs and courtyard and other improvements have rejuvenated the outside space and complex. Above the old boiler room, black framed door and window at bottom, has been converted and sold as a condo unit.
