In order to take advantage of the economy of scale, it’s a common practice now for builders to build several condominium corporations on a larger piece of land, to form a residential complex. This fosters a closer-knit community.
Some of the facilities are shared among the condos, typically the underground garage, and parking spots for visitors. Space permitting, some complexes may have a small park within the complex.
The Grandview Way is one of such residential complexes, with three condominium corporations (the casitas, the 88 building, and the 880 building) sharing a gatehouse, an underground garage, a parkette with a gazebo, and beautiful landscape, among other things.
Above: Garage entrance on the right,
exit on the left
(Click here to see a larger picture.)
Below: Gazebo in the parkette
(Click here to see a larger picture.)
The costs of maintaining these shared facilities as well as the costs of providing shared services (such as security, landscaping, snow removal) are split (i.e., shared) among the three condos in a predetermined formula.
There are 500 units in total in the Grandview Way complex. The casitas has 196 units, so its share is 39.2% (196 out of 500). The 88 building has 156 units, so its share is 31.2% (156 out of 500). And the 880 building has 148 units, so its share is 29.6% (148 out of 500).
Obviously the formula is based on the number of units in each condominium corporation. Had the formula been based on the footprint area of the land occupied by each condominium corporation, the share percentages could be significantly different.
So, enjoy the parkette, the gazebo, the beautiful landscape, and everything else that is shared, because every owner in any of the three condominium corporations of the Grandview Way complex pays the costs of upkeeping those shared facilities.
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