A condominium complex in Edmonton that was evacuated nearly two years ago over concerns that the building was going to collapse has been sold.
CBC reports Castledowns Pointe was purchased by the development and rental company Harmani Sale Inc. for $5.1 million, which plans to repair the build and rent out its 83 units. The complex, which has been vacant since September 2023, was listed in mid-2024 for $16.9 million.
Susan Strebchuk, the president of the condo board, said the evacuated residents are not likely to see their shares of the sales proceeds until October or November, and even then it will only be a “drop in the bucket.”
“The damage that’s been done to either your financial standing — or even your ability to move on from this — is not going to be recovered through whatever funds you will get,” Strebchuk said, adding the debts due to the condo board needs to be settled. “There is still lots of work to do. We will all be very relieved when we’re done.”
Castledowns Pointe was built in 1999, but the complex’s problems became visible after a fourth-floor fire in March 2023 when investigators uncovered acute structural flaws unrelated to the fire damage. It was determined the building did not match its architectural designs and was not in compliance with the building code. Residents were given hours to leave their homes in September 2023 over fears of an imminent building collapse, and in January 2024 the residents decided to sell at a loss rather than finance the building’s repairs. The building suffered more problems with a January 2025 flood that created over $500,000 in damages.
The building’s new owners said it would work with engineers and city officials on the repairs, with the goal of needing 18 months to complete the reconstruction.
Photo courtesy of Condodork
