The Riverside Towers Apartment Building in Hanover is being converted into a condominium building.
Hanover Council has given its stamp of approval.
Chief Building Official Don Tedford says Hanover was careful to ensure tenants would not be hurt by the change in designation.
Under the agreement — tenants will have security of tenure and will not be forced to buy into the condominium or vacate.
They will however have first choice should they decide to purchase their apartment as a condo.
This 46 unit apartment building to condo conversion has been in the works for four years.
Hanover has laid out some conditions for the agreement — including garbage storage and collection and parking spaces.
The numbered corporation (567331 Ontario Ltd) which owns Riverside Towers has done this before to some of its other buildings.
