Tarion Warranty Corporation, regulator for the new home building industry in Ontario, is exploring the feasibility of providing coverage for condominium conversions. The decision was announced at the private corporation's Annual Public Meeting in Toronto on April 25. The current Tarion warranty program only provides protection for new homes, and thus conversion projects—even if consisting of a complete building overhaul—do not qualify for statutory coverage, and therefore present significant financial risk.

Such projects may include former commercial properties, hospitality buildings such as hotels, apartments and institutional buildings—schools and hospitals. Even conversions that were previously residential cannot be protected under the current rules. Owners of units in converted buildings have been calling for Tarion coverage for years now. At this time, Tarion President and CEO Howard Bogach said, the corporation is doing "extensive research to determine the feasiblity" of extending coverage to condominium conversions, and expects to report back to the Ontario government in the fall.

Schoolhouse Lofts, a condo conversion by Empire Communities, photograph by Craig White