TORONTO, ONTARIO--(Marketwire - Aug. 17, 2011) - In reference to the recent series of incidents involving our condominium developments at Grosvenor Street and on Bedford Road in Toronto, Lanterra Developments wishes to share with Torontonians that the first priority for Lanterra in these circumstances is the public safety and the safety of our residents in these developments. We would also express our concern for the woman injured on Bay Street earlier this week and wish her a speedy recovery. We would further like to thank the police and the City of Toronto officials who have been very co-operative in helping Lanterra address the situation at hand.
Because our first priority is the safety of the public and our residents we have taken the following actions.
Based on the analysis given us by an independent engineering expert, BVDA Facade Engineering, who examined two of the properties in question, we have taken steps to immediately remove the glass panels and railing systems in the affected buildings at the Bedford, Grenville and Grosvenor addresses. This action will eliminate the potential for further incidents.
In May of this year, initial independent inspection reports by BVDA Facade Engineering relating the Grenville and Grosvenor developments recommended the reinforcement of the balcony railing systems for the units inspected. We acted immediately on this recommendation, but in light of the more recent events at the Bedford and Grenville locations, Lanterra has made the decision to fully remove the tempered glass in all three buildings.
Secondly, Lanterra Developments has further stipulated that the tempered glass on these balconies will be replaced with a laminated glass solution that closely resembles the type of safety glass utilized in automobile windshields. The advantage of utilizing laminated glass is that in combination with using the latest available railing technologies, these laminated panels retain their structure in the event of a fracture and stay in place on the balcony should any breakage occur. Throughout the course of these changes Lanterra has also provided protective hoarding at all locations to continually ensure the safety of pedestrians and vehicles in proximity to the buildings.
We are working closely with the City of Toronto, our contractors and engineering experts to deal effectively with this extraordinary situation and provide for our residents a comprehensive solution that ensures that the affected buildings are made immediately safer in the quickest time frame available.
We appreciate the patience and understanding of our residents in regards to this situation, and know that they share our primary focus on acting as effectively and quickly as possible to resolve this situation. Through these actions, Lanterra is seeking to give our residents and the public at large the comfort of knowing that we have taken every step available to refit these balconies with the most advanced safety features. Effective immediately all of our projects in development will make similar use of laminated glass designs.
Lanterra along with the vast majority of the development industry has for decades made extensive use of tempered glass structures that meets and exceeds the building standards and Codes established by the City of Toronto. With today's decision we have gone one step further to establish a new benchmark of safety that we believe will best serve the long term needs of our purchasers.
This commitment is in line with our history as an award-winning developer which over the past decade has built a reputation for design excellence and quality. Lanterra has always held the safety and security of our projects to be paramount. Our history and reputation continues to inform our actions today, and we are committed to working to maintain and strengthen the trust of our customers and business partners.