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‘New Hope on the Horizon’

‘New Hope on the Horizon’

The 46 owners of the Village West condos who recently suffered loss and damage due to the flooding have unanimously accepted a purchase offer, and Modern Realty had the pleasure of helping them get it done!

‘”Thanks to the good faith efforts and persistence from the Board of Directors and Mr. Loose, we have successfully accomplished our objective of creating a consensus agreement to the amended proposal terms, and we have collected fully executed contract documents from all 46 owners,’ Richetti said.” (MDN article | ourmidland.com)

“Loose has spent the past few weeks meeting with banks, City of Midland officials, contractors and Village West homeowners. His proposal, in a nutshell, is to buy all 46 condos, restore them to livable condition, and rent them at a discount from the market rate on a lifetime lease to all current owners who wish to stay. The current owners are almost all seniors.” (MDN article | ourmidland.com)

It’s the first big step in the process of restoration. You can read more about it here and watch the recent news coverage of this story.

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