1. Rhetoric and reality of "turnover": Condominium developer influence in Ontario and New York.
- Author
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Treffers, Stefan R. and Lippert, Randy K.
- Subjects
CONDOMINIUM design & construction ,PROFIT margins ,URBANIZATION ,APARTMENT complexes ,REAL estate developers - Abstract
Of the various ways developers have created and exploited the high demand for condominium living, there is little empirical research identifying and analyzing the growing influence of condominium developers over condominium governance and living as a means to increase profit margins. Drawing from survey and interviews with condominium owners, board members, and industry representatives in Ontario and New York state, this paper explores how developers maintain control and influence in condominium affairs long after construction is completed. Our research reveals that developers may desire this influence to extract further value from development and sway major governance decisions in their favor, depriving owners and other residents of the right to shape their collective living arrangements. Examining regulatory environments in Ontario and New York, we suggest there are few regulations that adequately deal with developer influence. We conclude by arguing that developer influence undermines prospects for democratic, collective governance that is essential to the sustainability of condominium tenure and to the success and livability of urban regions. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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