The Condominium Act permits the creation of different ownership types for a multi-unit development. The Act allows for the following types of condominiums:
Standard Condominium (most common where individual owners own the units and have a share of the common elements)
Common Elements Condominium (freehold units with common elements including the lands and structures of the condominium corporation (e.g. roads, recreational facilities, parking garage, hallways)
Vacant Land Condominium (units are vacant lots rather than units and includes common elements such as roads).
If an applicant wants to sell individual units as condominium units they must obtain a Plan of Condominium approval (CNDO). Generally, condominium approvals mirror the approval process of the Plan of Subdivision. The Condominium application process (507k/2p) would take six to eight months on average to complete.