Unless you have been out of touch; you have seen the news reports about an alleged drug lab within a condominium community ( Liberty Village ) that suffered a catastrophic explosion, blowing out the unit door and damaging the elevators.
Fortunately no residents were injured.
The news reports were numerous.
The incident occurred at a residential building on East Liberty Street shortly after 6:30 p.m., and when firefighters arrived on scene, they found a man inside a sixth floor unit suffering from burns to his hands and face. The man suffered only minor injuries in the explosion, which was so powerful it blew off the door to his apartment. The explosion also blew in the doors of three elevators located directly across from the unit and the apartment door was later located on top of an elevator car four storeys below.
“We were told it was a stove explosion so initially we probably thought it might be natural gas, but it turned out it was chemicals; acetone, other chemicals that appear to be used for making drugs,” Toronto Fire Platoon Chief Kevin Shaw told CP24 Tuesday morning.“It was a pretty substantial explosion that pretty well wrote the entire condo unit off.
Read more: http://www.cp24.com/news/man-facing-drug-related-charge-after-explosion-at-liberty-village-condo-1.2107183#ixzz3JYymfMI4
Other sources also carried reports.
CTV News
It happened inside a sixth-floor condominium unit on East
Liberty Street, just before 6:30 p.m. Toronto Fire Services say the
impact from the blast blew ...
Some jumped on the story talking about disclosure of what happened in the building and stigma that may stay with the property.
In bold type this headline is contained here; http://springrealty.ca/?what-happens-when-a-meth-lab-blows-up-in-your-condo&p=5642
Today, your condo is worth less than it was yesterday. Fact…sorry.
While everyone is entitled to their opinion the reality will take longer to play out. The Residents Association came together as a community and posted an update of their own.
Fellow Liberty Villagers’,
As many of you know, there was an explosion that occurred last night at 85 East Liberty St. (an official member of the LVRA), on the sixth floor. While the cause of the explosion is still under investigation, it seems clear that it involved illegal activities and the occupant has now been charged.
Liberty Village is an incredibly close-knit community and we are fortunate that no one was seriously injured and the physical damages, considering the seriousness of the blast, are only to things and not people. This is, undoubtedly, a very scary experience for many affected and we encourage you to continue to reach out and give assistance to your neighbours as emotional and psychological trauma is also a very real possibility.
We are very happy that the community used the LVRA Facebook page to communicate with each other and share important and verified information. This tool alleviated many people’s concerns for their friends and family - making sure everyone was safe and sound. This is a sad incident, but we take comfort in that fact that it is isolated and our community reached out in a way and with a volume that very few communities do - especially condo communities. Of this we should all be proud.
The Board of the LVRA is committed to making Liberty Village the best Urban Village in Canada, and this only reconfirms our direction and belief in the importance of a connected community and knowing your neighbours. Of course, none of this happens without the buy-in of our community and that thanks goes completely to you for participating in and believing in the same vision.
Sincerely,
The Board of Directors
Liberty Village Residents’ Association
Have there been high profile drug labs in other upscale Toronto condominiums? Yeah of course they are there. http://www.torontosun.com/news/torontoandgta/2009/09/30/11200691-sun.html
Officers interrupted a cocaine cookup with a high-risk armed takedown early Monday, arresting three people and seizing more than $1.3-million worth of drugs.
They were cooking crack cocaine, "the scourge of the streets," Police believe the sixth-floor unit of the Fort York Blvd.-Fleet St. tower was also used to process methaphetamines -- also known as speed.
Police were surprised at the "significant amount ... a variety we haven't seen in a long time, especially in an upscale condo."
It is a reality of URBAN living that there will be infestations of all varieties. Crime and vermin. Units continue to be sold in and around Fleet Street and Bathurst without much ado.
The aftermath
The building (LV) will need to be inspected to determine if repairs are required. The Board of Directors and the Management company have an obligation to restore / repair the building without delay. The insurance companies will pay and then sue the responsible parties. If the Tenant or Owner had sufficient insurance coverage to indemnify the building.
If there are lawsuits; the Condo Corporation must disclose these lawsuits. The Condo corp will need to also disclose the need for long term repairs if required. Anything else is speculation.
Will the values decline?
I highly doubt that.... a few months from now it will be but a memory.
Luxury always has to come with a high price tag. But that doesn't mean that you can't get the space you have always wanted.
ReplyDeleteAlthough buying a new, modern and spacious house in Toronto and areas as Brampton is not within the average earner's budget.
see more, New Condo sales Toronto