As a follow up to our earlier post concern the usage changes to income properties (duplex's and multi-res) we did a little more digging for you guys. If you currently own property in that area it becomes "Legal Non-Conforming.
Legal Non-Conforming use:
"It is important to note that all zoning by-laws are forward looking. They speak to the future and not the past. They regulate future uses of a property not existing ones. They are prospective not retrospective in nature. They are not retroactive....
If you have a present use which is legal, then it may continue forever. But, that entitlement applies to that property and that property alone, no others. If a new zoning by-law is enacted, it will apply"-Quote
Essentially as long as you continue it's present use without interruption the property is "Grandfathered" and the new legislation does not apply. Where this changes is if you apply for or do any significant renovations or changes to the property the new law then applies. Be aware of this when looking at investments in the designated zone. A property may look great, and the upside may seem to be there, but keep in mind that it's previous use may not continue on once you make the changes you see fit. At the end of the day your Real Estate representative's job is to be aware of all the angles and help you do the necessary digging.
Below is a map outlining the area in question.(**Keep in mind the information below is to be taken as an estimate only. The official map has yet to be released to the public. The office was kind enough to outline the area for us but this is not an official map or to be taken for official use.