Boardwalk REIT responds to Edmonton Journal article on Alberta Minimum Housing and Health Standards (the "Standards")

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[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Feb. 27, 2012 /CNW/ - Boardwalk Real Estate Investment Trust (\"BEI.UN\" - TSX)\n\n\nBoardwalk Real Estate Investment Trust (\"Boardwalk\", \"Boardwalk REIT\" or the \"Trust\") responds to the Edmonton Journal\n article of February 14, 2012, entitled \"Fire Traps Now Legal, NDP Says\" (the \"Article\"):\n\n\nThe Article, contained a number of statements about Boardwalk, which, if\n left unchallenged, would leave the reader with the impression that the\n Trust, along with other apartment rental companies, exercises undue\n influence over the Government of Alberta, and that its apartments are\n not safe.\n\n\nFirstly, the Article states that Boardwalk has long pressed for changes\n to the Standards and has repeatedly tried to have Alberta's safety laws\n overturned by the Courts.  This assertion is incorrect.   Boardwalk\n sought judicial review of the Standards in 2005 and 2006, because the\n Standards were drafted in such a way as to create confusion between the\n requirements of the Alberta Building Code and the Standards.  Once the\n Courts of Alberta definitively determined that the Standards took\n precedence over the building code, Boardwalk, in consultation and\n cooperation with Alberta Health Services, complied with the Standard's\n requirements vis a vis windows, as well as guardrail heights and widths.  Since 2005, Boardwalk\n has repaired and/or replaced almost $7 million worth of windows and\n almost $3 million worth of guard rails in the City of Edmonton alone in\n order to comply with the Standards.  This was done notwithstanding the\n fact that none of the properties were ever cited by a safety codes\n officer for having an unsafe condition under the building code.\n\n\nBoardwalk's first priority is the health and safety of its tenants and\n employees.  To that end, since 1995, Boardwalk has spent over $1\n billion on capital improvements, most of which, directly or indirectly,\n was spent to improve the health, safety and comfort of our tenants. \n Boardwalk has spent significantly more on capital improvements than any\n other landlord in Canada during that time.\n\n\nBoardwalk's record on health and safety reflect a business organization\n that adheres to the highest standards.  In the 27 plus year history of\n the Trust and its predecessor (Board...

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