1575 Lakeshore Road West, Mississauga

An extensive review of a newly constructed condominium was completed in compliance with the Tarion New Home Warranty program, leading to a dependable 40-year capital plan.

Services

Assessment and Capital Planning

Subservices

Performance Audit, Reserve Fund Study

Sector

Residential

Duration

2020

Client

Crossbridge Condominium Services

Project Value

$200,000

Project size

5 story building (292 units)

This residential apartment building consisted of 292 residential units with three wings: the west and centre wings were four stories tall, and the east wing was five stories tall.

The building was served by five elevators. The first-floor amenities on the west wing included a main entrance and lobby with concierge, a lounge area, meeting room, and guest suite. The first-floor amenities on the east wing included a patio BBQ lounge area, a party room, pet wash area, guest suite, hobby room, and fitness/gym room. The roof top terrace had an indoor dining and servery area. Parking was provided on the surface and within one and a half levels of underground garage, totaling 358 spaces.

Pretium completed a performance audit and reserve fund study at one-year post-declaration at this property.

The project included a comprehensive review of all base building components including the:

building envelope, structure, site surfaces, and appurtenances
HVAC
electrical
plumbing
fire protection and life safety systems
elevators
accessibility
interior finishes
kitchen
amenity equipment

Based on the review, a 40-year capital expenditure plan was developed.

To deliver this project, Pretium completed the following measures:

Performance Audit

Performance Audits are mandated by the Ontario Condominium Act and include a comprehensive review of all building systems. These reports, along with the Tarion Warranty Program deficiency tracking protocol, identify defects in the construction of common elements. Once the report is submitted to Tarion, we present arguments for repair and assess the builder’s proposed repairs throughout Resolution and Conciliation.

Reserve Fund Study

Reserve Fund Studies are mandated by the Ontario Condominium Act and create a funding forecast to maintain common element components. Our reports include all mandated funding schedules. Since every building is unique, various funding scenarios may satisfy the condominium’s obligations. Our team will discuss these scenarios with management and the Board to determine which suits their property best.

Client Benefits

As a result of Pretium’s through on-site review and team-oriented approach to resolving deficiencies with the Contractor, the building owners, managers, and residents can reliably live in and operate the building with no concerns for safety or building performance issues.

The resulting capital plan allows building owners and managers to understand the building’s long-term capital needs, ensuring adequate funds are set aside for future maintenance, repairs, and replacements.

Bollards and curbs located in the underground parking garage.

1 / 4