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~ NEWS TENANTS STILL WAITING ON COMPENSATION UPDATE = RESIDENTS IN LIMBO AS E 2 BUILDING PROPOSED FOR = DEMOLITION AVID LEA lea@metroland.com Oakville Beaver eo The property manager for an Oakville apartment building has larification will receive if their building is de- molished. However, many questions still remain. On Monday, Jan. 23 the town's planning and development coun- cil heard a proposal from Helberg Propertios Limited calling for ning changes that would allow it to demolish the seven-storey apartment building at 50 Speers Rd. and replace it with a 27-storey rental apartment building. Council has yet to decide on the proposal. During that meeting, many of the existing tenants said they were worried about their futures as they had received no guaran- tee they could move into the new building for the same rent. cern became mixed with confusion when Helberg's planning consultant, Lindsay Dale-Harris of Bousfields Inc., talked about the property own- er's efforts to help the existing nants. s "We have provided a compen- sation package to existing ten- ants which exceeds any require- ments under the Residential Ten- cies Act," she said at the Janu- ary meeting. This came as news to 50 Speers Rd. resident Terry Garswe haven't received iis We can't even get any information as to what it would be," said Gar- swood, who has called 50 Speers Rd. home for around 16 year- s. “This is information we need so we can plan." When reached for comment, the site's property manager, Na- dine Sarich, confirmed compen- sation packages have not been provided. "We are still in the early stages A PLACE,TO We, Qu JOIN US FOR OAKVILLE A TOUR AND LUNCH. DELMANOR Glen Abbey Inspired Retirement Living™ 1459 NOTTINGHILL GATE 905-469-3232 com insidehalton.com A BDP Quadrangle image Concept art for the proposed 27-storey apartment building at 50 Speers Rd. of the application process and the full details of the compensation packages will be developed and fi- nalized as we move forward," she sai Sarich noted that in October 2021 property management for 50 Speers Rd. held a meeting with the tenants and informed them of plans to potentially demolish the building. “At that meeting, we shared that the planning process would units or their rents (other than regular annual increases that are permitted through the Residen- We're celebrating 30 years of service this month, and we want to extend a heartfelt thank you to everyone we've had the pleasure of serving over the years. We are looking forward to many more years of supporting you and protecting the things you hold dear. Michelle Cooper Insurance and Financial Services Inc. Michelle Cooper, Agent 1545 Cornwall Rd Unit 43 Oakville ON 905-826-4900 michellecooper.ca oO Desjardins Town of Oakville photo CATHY DUDDECK tial Tenancies Act), and that we would keep em informed throughout the process,” she said. In June 2022, Sarich said prop- erty management held a second meeting with residents at which time they confirmed their inten- tion to exceed the compensation required by legislation. Brochures about this compen- sation was also provided to those in attendance and delivered to each suite, Sarich said. The brochure noted that if the demolition moves forward, eligi- ble residents must receive four months’ notice to move out and See COMPENSATION, page 5