1 OCTOBER 2023
The owners of apartments in crumbling old buildings who were offered multimillion-dollar sums by developers to hand them over for demolition and rebuilds have had their dreams dashed by loopholes in new legislation that was ironically intended to make redevelopments easier.
Karen Stiles, executive officer of the apartment owners’ peak organisation the OCN, said repeated requests to reform the legislation had fallen on deaf ears. “The state government has failed to close the loophole, preventing the development of desperately needed housing,” she said.