A condo building in North Edmonton’s Caernarvon neighbourhood has been sold to an investment company for $5.1 million.
Castledowns Pointe was damaged by a fire in 2023, and the building has been evacuated ever since. The building is still covered in plastic.
Reports show that the construction of the condo doesn’t match the plans and doesn’t comply with construction codes.
Residents are still paying condo fees and property taxes for the building, despite no one being permitted to live there.
Harmani Investments purchased the land and building last month for $5.1 million and is hoping to repair the building. If the building isn’t repairable, then they will be forced to tear it down and rebuild.