In response to the evolving economic situation surrounding COVID-19, the provincial Office of the Superintendent of Real Estate has made temporary changes to the Real Estate Development Marketing Act (REDMA).
As of April 17, 2020, these temporary changes address the current challenges faced by developers in obtaining building permits and allow for a three-month extension to continue marketing for a total of 12 months before a building permit is required.
This is good news as new homes will continue to be built and important projects will continue moving forward allowing more housing options for families.
To learn more, read the Information Bulletin from the Office of the Superintendent of Real Estate.