The South Doon Kitchener townhome complex consists of 56 townhouse units, developed in phases. This presented a unique challenge for the Corporation in maintaining a healthy reserve balance with the phased development in mind.
To address the challenge, the Board of Directors retained Edison's expertise to carry out a Reserve Fund Study. Our goal was to provide the Board of Directors with a funding plan that would ensure the physical and financial health of the complex for the long term.
With Edison's support, the Corporation is now well-equipped to maintain the necessary funds to cover the anticipated expenses of repairing and replacing the common elements of the townhome complex. The funding plan we developed ensures that the Reserve Fund remains stable and healthy, providing peace of mind to the Board of Directors and unit owners alike.