The corporations behind the construction of an Edmonton condo building that was evacuated last year due to the risk of collapse no longer exist, which poses a legal hurdle for owners who were forced from their homes seven months ago.
All residents of Castledowns Pointe at 12618 152nd Ave. were ordered out last September after engineers investigating damage caused by a March 2023 fire uncovered dangerous structural flaws.
Investigators determined the 83-unit building, constructed in 1999, does not match the architectural designs on record and that construction did not comply with the building code.
Owners have decided to sell the condemned building and the land it sits on, rather than attempting to rebuild.
I grew up in America, so I don’t know if it’s the same way here, but when building a Nuclear Reactor companies would be required by the NRC to purchase extremely comprehensive insurance in case shit went tits up down the line - and if they ate into that insurance due to a temporary deficiency (i.e. a tritium leak) they’d need to top it up again before being allowed to reactivate.
Honestly, this sounds extremely reasonable for construction of domiciles as well - possibly with a redundancy discount for large firms (i.e. something similar to bank’s fractional reserve system).