I have completed the Change of Use Development Permit application through the City and am two weeks from turning over my first legal suite conversion. I have my second permit application approved and will be starting construction next month.
Here are some of my learnings:
-It is helpful bringing in a consultant for the permit process and drawings. I have done DPs for my day job so I have had experience with multiple firms in Calgary.
-The Alberta building code has some requirements that make your head shake such as a different HVAC system for each suite, while missing some important points - no need for fire rated drywall between the suites.
-Getting a BP and DP approved takes time, 8-10 weeks excluding getting the plans done so plan for it, buy materials, get plans done before you close. You can submit your application the day you close; with the sellers blessing you can apply before you close.
-Make sure your contractors are good, there are all kinds of inspections completed by the city before its done and having quality contractors will help. Our GC works almost primarily for us so this gives us lots of advantages.
-Meeting your requirements, carrying costs, meeting city requirements, and building code requirements is expensive. We have done full gut and renos for 29 / sqft and gotten very good results (stainless steel appliances, granite, high end tiles, professional photogrpahers, staging) but these projects cost a lot more. In planning our third project we are looking at 60-80 / sqft for basic finishes.
-We have turned this into an important part of our business and we have 5 projects underway or in the planning stages.
Anyone who wants to pick my brain or would like to partner with us, send me a message. I would be happy to share what we have been doing.
Nav Damji
Equium Group