Client Success Stories

By partnering with clients, providing clear information about their buildings and exploring various repair options and plans, we are able to deliver solutions that provide lasting value. Read through the highlights of some of our most successful client projects to see how a deep partnership with Edison can benefit you or your community of owners.

Comprehensive Capital Plan, Parking Garage, Balcony & Cladding Restoration Project
Private Ownership Party managed by Realstar Group

Since 1974, Realstar has been active in every facet of the multi-unit residential business and have built one of the largest and most successful rental portfolios in Canada. They are experienced and savvy investors and property managers focused on maximizing returns and maintaining the capital assets.

The subject investment property consisted of a 30 year old 9 storey residential high-rise with exterior parking garage structure. Faced with a large restoration project to address masonry deterioration and lesser known problems with the balconies and parking garage, Realstar understood that more information was required to properly plan and finance the capital projects.

Edison was commissioned to carry out a detailed condition survey of the parking garage, balconies, masonry walls, and roofs plus complete a general review of the entire building. All the information was used to prepare a 10 year capital plan for the complex. Utilizing the information in the reports, and recommendations for repairs, Realstar presented and received approval for a $1 million comprehensive capital repair project.

Detailed specification packages were prepared and tendered to qualified contractors. The pricing for the work was less than our cost estimates. Edison managed the project and reviewed the work in progress to ensure the owners received full value for their investment in the repairs. The projects were completed successfully and under the original budget to Realstar’s complete satisfaction.

“Thanks Jason. Your expertise and attention to detail are major reasons why these projects have gone so smoothly and ended up under budget.”
Keith Milne, Construction Manager
Realstar Management

Before

After

 

Comprehensive Reserve Fund Study, Balcony & Garage Condition Surveys, Window and Masonry Water Leak Investigation and Repair
30 Year Old Condominium Corporation managed by Royal Property Management

The property is a signature condominium complex located in eastern Ontario. Constructed in the late 1970s the 11 storey horseshoe-shaped building is provided with continuous curved balconies overlooking the water and a combination of concrete and masonry cladding on the front side of the building.

Since construction the windows within masonry walls were leaking and various repair attempts had been made including window replacement and installing new vent grills. Frustrated that leaks continued to be a problem the Corporation retained Edison to investigate.

Through strategic and systematic testing and analysis we determined the source of water penetration to be the unique installation method of structural masonry units. Repair options were presented and the Board elected to install stucco cladding over the masonry. The repair work has been 100% successful in addressing the water penetration problem and has the added benefit of updating the appearance of the building. The work was completed on time and within the construction budgets we provided.

One of the keys to helping the Board decide on a repair solution was our analysis of their Reserve Fund. Similar to many condominiums this age, there was simply not enough money available to address many of the required capital projects. We worked closely with the Board to develop a plan that would ensure funds were available while at the same time keeping fees as low as possible.

We were able to help the Board feel comfortable in deferring projects by gathering more information and by exploring various options. For example, a comprehensive balcony survey was commissioned to determine the existing condition of the balconies and railings. One of the options presented was to carry out a program of loose removals and localized repairs to mitigate liability.This option allowed the Board to defer a major capital expense thereby allowing more time to accumulate the required funds.

The Board now has a plan in place and feels confident about the future knowing that funds will be available to address all their needs.

Before installation of stucco cladding

After installation of stucco cladding