Condo Revitalization
We acquire struggling and aging condo buildings, work through their existing problems, invest in them, and bring them back to a stronger, sustainable condition.
Below are Harmani projects with the numbers: what the units were worth, what we paid the owners, and what we did with each building.
See the case studiesHow it works
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Acquire
We buy the units from the owners, often in buildings that are struggling financially or physically.
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Work through the problems
Reserve fund shortfalls, deferred maintenance and unfinished repairs are dealt with one at a time.
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Invest
We put money into the building: repairs, upgrades and the work that was put off for years.
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Stabilize
Over time the building is brought back to a stronger, sustainable condition and managed long term.
It takes time
Some buildings come to us with negative reserve funds, deferred maintenance, financial problems or years of neglected work. None of that can be fixed overnight. Some buildings take a year or longer to stabilize and improve.
Each case below shows where the building started, what was done, and where it is today.
Case studies
Harmani projects. Open a case to see the numbers, the work and the documents behind them.
Juniper Apartments
100% voluntary owner sales
Market avg.
$72,633.33
Harmani paid avg.
$100,500
Paid vs. market
+$27,866.67
Juniper Apartments
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
Revitalization plan, commenced August 2026.
Completed improvements
- 11 units fully renovated with modern finishes and upgrades
- Hallways refreshed: new flooring, painting and electrical upgrades
- Mechanical upgrades: furnace and water tank replaced
- Exterior drainage and landscaping improved
- New security cameras installed
Upcoming
- Parking lot repaving to improve the resident experience
Reserve fund position
Cardero Court
100% voluntary owner sales
Market avg.
$88,333.33
Harmani paid avg.
$155,976
Paid vs. market
+$67,642.67
Cardero Court
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
36-month revitalization plan, commenced August 2026. Planned and ongoing work on the building and site.
Renovation of 6 units
Roof repairs and maintenance
Drainage improvements and exterior grading to help prevent water penetration
Replacement of the water heater
Reserve fund position
Phoenix House
100% voluntary owner sales
Market avg.
$70,340
Harmani paid avg.
$83,907.18
Paid vs. market
+$13,567.18
Phoenix House
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
Revitalization plan, commenced May 2026.
Completed
- Exterior upgrades and stucco repairs
- Hallways repainted and upgraded
- Common-area flooring replaced
- 10 units fully renovated
- New security cameras installed
Reserve fund position
Princeton Arms
100% voluntary owner sales
Market avg.
$97,067
Harmani paid avg.
$105,602.59
Paid vs. market
+$8,535.59
Princeton Arms
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
36-month revitalization plan, commenced May 2026.
Completed
- Boiler replacement
- Exterior siding replacement
- Deck reconstruction for safety and appearance
- 7 units fully renovated
- Security cameras and security upgrades
- Interior upgrades and fresh painting
- New resident laundry system
Reserve fund position
Pepperwood Village
100% voluntary owner sales
Market avg.
$141,545
Harmani paid avg.
$183,750
Paid vs. market
+$42,205
Pepperwood Village
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
36-month revitalization plan.
Completed, first 24 months
- Private waste management program
- Parking lot upgrades
- Uniform suite finish standard
- Stabilized, quality tenancies
Underway, final 12 months
- Full roof replacement
- Structural repairs
Reserve fund position
Whitehall Place
90.2% voluntary owner sales · 46 of 51 units
Market avg.
$148,700
Harmani paid avg.
$148,426.63
Paid vs. market
-$273.37
Whitehall Place
90.2% voluntary owner sales · 46 of 51 units
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
18-month revitalization plan, commenced June 2026. Planned and ongoing work on the building and site.
Full common area hallway renovation
Complete window replacement
Full roof replacement
Parking lot repaving
Reserve fund position
Ridgewood Gardens
100% voluntary owner sales
Market avg.
$73,157
Harmani paid avg.
$91,500
Paid vs. market
+$18,343
Ridgewood Gardens
100% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
From fire recovery to full revitalization
Commenced June 2023.
Following two fires, Ridgewood Gardens could no longer obtain insurance as a condominium. The 32-unit building destroyed by fire could not be rebuilt: after two years of legal proceedings, the insurance settlement fell short of reconstruction costs, leaving those owners without a path forward. Harmani purchased all 212 units, including the 32 in the fire-damaged building, and transitioned the remaining 180 suites to professionally managed rental housing. The former fire site is now being redeveloped as a 10,000 sq ft childcare centre serving 180+ children.
- All 212 units purchased
- 180 suites now rentals
- Childcare centre underway
Reserve fund position
Victoria Trail
94% voluntary owner sales
Market avg.
$75,110
Harmani paid avg.
$101,858
Paid vs. market
+$26,748
Victoria Trail
94% voluntary owner sales
Acquisition pricing
CMA: comparative market analysis of MLS® sales.
Revitalization scope
36-month revitalization plan, commenced June 2026. Planned and ongoing work on the building and site.
Exterior siding & building envelope upgrades
Deck and balcony repairs & upgrades
Missing railings and membrane installations
New window replacements
40 units scheduled for full renovation
Reserve fund position
Areka Manor
100% voluntary owner sales · 10 of 10 units
2-bedroom
1-bedroom
Market avg.
$209,000
$153,600
Harmani paid avg.
$209,250
$181,083
Paid vs. market
+$250
+$27,483
Areka Manor
100% voluntary owner sales · 10 of 10 units
Acquisition pricing
2-bedroom units
1-bedroom units
Revitalization scope
12-month revitalization plan, commenced September 2026. Planned and ongoing work on the building and site.
Roof and leak repair
Exterior membrane repair
Common area upgrades
Mechanical room upgrades
Hot water tank replacement
Parking lot upgrades
Reserve fund position
Diamond Ridge
85.9% voluntary owner sales · 67 of 78 units
Market avg.
$112,165
Harmani paid avg.
$149,285.06
Paid vs. market
+$37,120.06
Diamond Ridge
85.9% voluntary owner sales · 67 of 78 units
Acquisition pricing
CMA: comparative market analysis, the average of 20 individual sales over 2 years.
Revitalization scope
Planned and ongoing work on the building and site.
Comprehensive pest remediation
Address a cockroach infestation reported as ongoing for multiple years.
Roof leak remediation
Address ongoing roof leaks reported over several years.
Inter-suite water intrusion repairs
Address ongoing water migration between units.
Sewer backup repairs
Repair sewage backup issues affecting the property.
Mechanical and common-area repairs
Boiler, water tank and common-area repairs and upgrades.
Exterior membrane repairs
Complete identified exterior membrane work.
Landscaping improvements
Improve and maintain the property's landscaping.
Reserve fund position
More Revitalizations Ahead
These are just a handful of stories.
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