Affidavits for Shangri-La tower class-action lawsuit examine market values

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Lawyers involved in a class\u002Daction lawsuit over defective windows at Vancouver\u0027s Shangri\u002DLa residential condo tower tapped real estate appraisers to assess how the market value of the building\u0027s luxury units has been impacted by the problems.

Original buyers and current owners who bought a condo from an original buyer had until last week to opt out of the class-action lawsuit against the legal owner of the land, KBK No. 11 Ventures Ltd., the developer, 1100 Georgia Partnership, and its partners, including companies related to high-profile local groups such as the Peterson Group and Westbank Corp.Article content

As strata president, he was also aware of other instances in other units where insulating glass was fogging and shattering. He included various photos as exhibits.Article content He compared prices for these sales to the Real Estate Board of Greater Vancouver’s Housing Price Index for residential apartment units in the downtown core. The index tracks changes in market values over time for a benchmark unit in a given area.Article content

 

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