What rules apply to the purchase of a subdivision lot in The Balmoral?
Owners of a subdivision lot within The Balmoral must commence construction of a single family residential home within three years of the closing date of their purchase and complete construction within five years of the closing date of their purchase. This means that before the end of a three year period the owner must (i) complete the architectural plans, (ii) obtain approval from The Balmoral Design Review Committee, (iii) obtain a building permit from Town Planning and (iv) commence construction on the lot.
