Business
Boardwalk Rental Communities - Further Update on the Impact of Flooding that Occurred in Calgary, AB
CALGARY , June 28, 2013 /CNW/ - Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX)...
About this update from Boardwalk Real Estate Investment Trust
[{"type":"text","content":"\n\n\nCALGARY, June 28, 2013 /CNW/ - Boardwalk Real Estate Investment Trust (\"BEI.UN\" - TSX)\n\n\nBoardwalk Rental Communities (\"Boardwalk\", \"The Trust\") would like to\n provide an additional update on the impact of the flood on its\n Operations in Calgary, as a result of the recent flooding in Southern\n Alberta.\n\n\nBoardwalk Rental Communities is pleased to announce that Residents are\n able to move back into Beltline Towers, which was in the mandatory\n evacuation zone in downtown Calgary.  All Boardwalk Resident Members\n have safely returned home to their buildings, with the exception of\n Elbow Tower, a 158 unit high-rise situated along the Elbow River.\n\n\nElbow Tower remains in the mandatory evacuation zone, and sustained\n water damage on its ground and parkade levels during the flood over the\n past week.  We are currently assessing the building and have begun\n clean-up and restoration to ensure that Residents are able to move back\n into their homes safely.  At this time, we do not expect Residents of\n Elbow Tower to be able to move back home for a minimum of one month,\n however, we will provide our Residents with further updates as we\n progress.  Boardwalk will be prorating rent for Residents who were in\n mandatory evacuation zones in both Beltline Towers and Elbow Tower.\n\n\nAs a result of the evacuation and the restriction of power to buildings,\n Boardwalk Associates were required to empty fridges in both Beltline\n Towers and Elbow Tower.  Boardwalk is providing its Residents Members\n in these buildings with grocery gift cards to ensure they are able to\n move home comfortably.\n\n\nSam Kolias, CEO and Chairman of Boardwalk REIT says, \"Despite the\n exceptional circumstances Calgarians have faced over the past week, it\n has been touching to see the community pull together to help one\n another. We would like to thank all of the volunteers, municipal staff,\n and city officials who continue to respond to the needs of our\n Communities.\"\n\n\nRob Geremia, President of Boardwalk REIT added, \"We would also like to\n extend our sympathies to each individual who was affected by the flood\n in Southern Alberta.  You will continue to be in our thoughts and\n prayers during the rebuilding process.  A special thank you to our team\n who has worked around the clock to e...