The repair and restoration of building envelopes for low- and high-rise buildings and townhouses may include complete building facade replacement or work limited to specific areas, such as brick replacement and re-pointing. The repair and replacement of building envelope components can significantly enhance the appearance and value of the condominium corporation.
HVAC systems typically financed include rooftop boilers, heating and air conditioning systems as well as individual unit heating and cooling systems and their respective controlling units. These types of projects may also include all of the related plumbing and electrical requirements.
Energy retrofits are an excellent way for a condominium corporation to address aging or inefficient HVAC systems and lighting throughout a building and realize a potential payback of a portion or all of the associated costs through improved efficiency, utility cost savings and government green initiatives. Energy retrofit projects offer the benefit of addressing current issues while at the same time potentially saving money, enhancing the attributes of a condominium corporation and increasing its overall value.
Balconies, Windows and Doors
The repair and replacement of a condominium’s balconies, windows and doors is a common and beneficial undertaking. Although they may be considered independent of each other, these items are often repaired or replaced at the same time as their lifespans and the contractors involved tend to be similar. The benefits are widespread and include improved heating and cooling efficiency, unit and building appearance and quality of living.
Guest and Superintendent Suites
The financing of a condominium corporation’s guest suite and/or superintendent suite is a strategic way to generate funds and reasonably allocate the value of the suites over a longer period that matches the useful life of the asset.
Complete elevator replacement and modernization, as well as repairs necessary to ensure compliance with current codes and by-laws, are of significant importance to residents of low- and high-rise condominium corporations.
Surface level and underground, multi-level parking garage repairs and rehabilitations are expensive and time-consuming and are often undertaken in phases to accommodate residents’ parking requirements as much as possible. Repairs may vary from the remediation of garage roof decks that are leaking to the complete rehabilitation of multi-level underground concrete parking structures. Flexible financing solutions can accommodate various project timelines and requirements.
Lobbies and Recreational Facilities
The replacement and updating of a building’s lobby decor, including flooring, wall coverings and lighting, can significantly enhance the appeal and pride of ownership of any building as well as add overall value to the units within the building. Similarly, updated recreational facilities, including swimming pools, workout rooms and party rooms, will heighten the attractiveness and quality of life within a condominium corporation.
“The Board of Directors of our Condominium Corporation required guidance in obtaining major funding, to finance the complete roof replacement of our condominium building. Maxium Condominium Finance Group understood the situation, provided senior management attention to the details of the process, and provided our Condominium Corporation with the required loan. We’re very pleased with the experience.”
Steve Smite, President