Reserve Fund Study

The Challenge

Circa 1877 is a towering 19-storey building in Waterloo's bustling heart, housing 188 residential units, a 5-storey podium with amenities like a sky terrace, commercial units, and an above-ground parking garage. The building also integrates a heritage structure at street level, the former Brick Brewery, which adds to its charm and character. However, the heritage designation presented a challenge in Reserve Fund Planning due to the associated higher cost of preserving the building.

Enter Edison

To tackle the challenge, the Board of Directors of Circa 1877 retained the expertise of Edison. Our team carried out a Reserve Fund Study, including a conducted a thorough component inventory and assessment of the common elements of the building. By leveraging our high-rise building restoration expertise, we created a plan to provide adequate funds to cover the major repair and replacement of the common elements for the duration of the study. Our plan also includes recommendations for future engineering reviews, to help the Corporation capture concerns early, before costs escalate.

The Payoff

With Edison's expertise, the Board of Directors of Circa 1877 can rest easy knowing that their Reserve Fund Plan has been designed to reduce the risk of Special Assessments or deferred maintenance that could inflate future repair costs.