let's say you are about to build your multimillion condominium, will you consider placing it near a coasts? why? why not ?
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Answer:
Condominium neighbourhoods are emerging in intensifying city centres as a response to market and demographic preferences for homeownership. While the multi-ownership structure of individual condominium buildings accommodates a short-term demand, the long-term implications for neighbourhoods is a source of concern. In particular, the presence of unit owners with varied acquisition objectives can lead to an anticommons problem resulting in building disinvestment due to an inability to reach decisions on sustainable maintenance fees and capital reserve funds, and a lack of end of lifecycle planning. The City of Toronto is experiencing unprecedented condominium development and serves as the basis for a case study that assesses the anticipated future neighbourhood challenges associated with a predominantly condominium-based form of ownership
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