THE BASICS
Strata development has flourished in British Columbia . Since 1966, developers have created approximately 840,000 strata lots in this province. In 1998, the Barrett Commission described the strata system as a significant form of property ownership in our province.1 The Barrett Commission found that the strata market is an important source of affordable family and retirement ...
Property Transfer Tax
The issue
This year alone, the Property Transfer Tax (PTT) will pour upwards of a billion dollars into the provincial government's revenue stream.
Charged at a rate of one per cent on the first $200,000 and two per cent on the remainder, the tax will add $5,500 up front to the cost of a $375,000 home. If the home buyer isn't prepared and hasn't sa ...
Sites in Residential
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The Delta Group is currently under contract to acquire Denman Place. The mixed use property is currently occupied by Denman Place Coast Hotel and Conference Centre and Denman Place Shopping Mall.
The proposed plan is to firstly relocate the Coast Hotel to another downtown location controlled by The Delta Group and then to convert the existing hotel into highly desirable West End condominium ...
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