“It’s a big blow,” said Mark Pazdur, president of the condo association in B.C. The BC CPA says the loss of the towers, along with the addition of condos, will force a major shift in the condo market, and a loss of thousands of jobs.
“The towers were really a big catalyst to the industry in the last five to 10 years.
And now they’re gone,” said Pazsur.
“What happened to the towers is a huge blow to the entire condo industry.”
The B.F. Greenway Condominiums association is also concerned that the towers are likely to be gone within the next three to four years.
“We’re not expecting any major condo towers to come in, so we’re worried,” said Brett Dabrowski, vice-president of the association.
“It will really be a disaster.”
Dabrowsky said he’s worried that if the towers don’t come back, condo owners in the neighbourhood will either move, or move out.
“For the first time, we are not getting our own tower.
The only tower we are getting is the condo tower that has gone up.”
While the B.D. Greenways Condominium Association said the towers may be gone by 2020, the condominium association says they will be gone in 2026.
In a press release, the BC CSA said it is concerned about the potential for condo owners to lose access to the tower.
“The BCTC, as a condo association, has a responsibility to ensure the interests of our members are fully represented, particularly in the form of the availability of our towers, and the number of condos that will be built there,” the statement read.
“As a condo community, our community has been impacted by the tower shortage.”
With files from CTV Vancouver’s Peter Pannett