Toronto Lawyer Marc Lean Discusses Condo Conversions with Law Times

March 12, 2015
Recently, Toronto Lawyer Marc Lean spoke to Law Times about condominium conversions in the city. In the article, he discusses the aspects of a conversion agreement as well as the impact conversions have on the city’s rental market.

Much of the conversion process falls under the Planning Act and the individual municipal planning departments. Municipalities can ask a lot, Marc told Law Times.

A conversion to a condominium also results in a broader market because the owner can sell it as either residential or commercial. On the other hand, Marc has found a prejudice against conversions in planning departments with official plans limiting what an owner can convert into condominiums. “There really is a feeling that if they reduce the barriers to conversion, there wouldn’t be any rental stock left,” he says.

To read the full article and Marc’s comments, please click here.
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