Year in Review – 2023
December 21, 2023Spring 2024 Update
June 20, 2024March 20, 2024
As winter comes to an end, we are providing an update on the lease modernization program. There has been an increase in demand for the modernized sublease extension as the initial offer came to a close in December. Over 100 lots are in the process of modernization with the majority of those set to close within the next few weeks. The company has continued conversations with the relevant authorities regarding the future road obligations in the lease area. We look forward to reporting progress soon.
We would like to remind everyone that if your annual fees were paid for 2024, there will not be another billing following completion of the modernized sublease. The next billing period doesn’t start until later this fall to prepay the 2025 year. Any lots not modernized this year may be subject to their 35-year annual rent (fee) adjustment. The company has been in talks with two appraisers to commission the land lot appraisal project this year. There will be further announcements later this summer. The intent is to give as much notice as possible before the next billing period so residents may make an informed decision with their modernization options.
The spring start-up period is approaching for common area maintenance. Please use the website and report any service requests including landscaping and street lights here. We thank everyone for their continued support into the lease modernization program. Feel free to call us at 250-768-5617 or email info@lakeridgepark.ca
Lakeridge Park Residential Corp., the general partner of WFN Development LP