Superintendent of Real Estate Issues Policy Statement 17

Effective April 17, 2020, the Superintendent of Real Estate has published Policy Statement 17. This Policy Statement will assist those affected by necessary Covid-19 pandemic response measures that have limited marketing activities and impacted developers’ ability to obtain building permits and arrange financing commitments.

Policy Statement 17 temporarily extends the nine month early marketing periods set out in Policy Statements 5 and 6 to 12 months. Under Policy Statement 17:

• Development property marketed under a disclosure statement filed under the Real Estate Development Marketing Act (REDMA) from April 17, 2020 to July 17, 2020 can be marketed for a 12-month period if the disclosure includes applicable extended dates as required by Policy Statement 17; or
• Development property marketed under a disclosure statement filed under REDMA from June 17, 2019 to April 16, 2020 can be marketed for a 12-month period if an amendment is filed and the disclosure includes applicable extended dates as required by Policy Statement 17.

For more information about Policy Statement 17, please see:

• Full Text of Policy Statement 17 (PDF)
• Information Bulletin: Policy Statement 17 (PDF)