There are condition ratings done every year on public housing units and if they reach a certain condition rating after they’ve been renovated a few times, then this one is determined that they’re taken out of stock.
The public housing replacement units that you see, as we bring in new public housing units into a community we have to remove a few of them to keep our public housing portfolio level because of declining O and M funding from CMHC. So we try to dispose of the units. I think we have 44 right now that we’re looking to dispose of.
We’ve had discussions with community groups. They’re quite interested in taking over some of these units. We’ve been able to broker a few deals with them, which worked well for the Housing Corporation. There’s an interest out there. I was at a couple of meetings recently where they expressed an interest in some of our older stock. Some we would sell off to the existing tenants, if the need arises.
Our last option would be to totally destroy the units. We’ll explore all other opportunities to put these units to use before we actually demolish them.