Nassif said 'minor defects'. Owners now facing $10 million repair bill
Developer Jean Nassif told ICAC his buildings had minor flaws; Parramatta residents are spending $8 to $10 million fixing serious defects.
At an ICAC hearing last week, developer Jean Nassif said defects in his apartment buildings were minor. Nassif claimed all buildings have them.
At the Riviera complex in Parramatta, residents tell a different story. The six-building complex has cracked balconies.
A fire safety tank leaks. Lifts and doors get stuck.
German cockroaches have infested the building and destroyed dishwashers and air-conditioning units. Eight years after first suing Toplace (Nassif's company, now wound up), owners are now raising $8 to $10 million for repairs.
Of 320 apartments, 55 are affected by leaks and cracking. About $2.75 million is being spent to remove dangerous cladding.
Residents face ongoing extra levies to cover the costs.
- $8 to $10 million
- Repair cost
- $2.75 million
- Cladding removal
- 55 of 320
- Apartments affected
- Eight years
- Time since first lawsuit
Why it mattersApartment owners are left paying for serious safety defects years after purchase, with no recourse against a collapsed developer.
AustraliaNSW residents buying apartments built by now-defunct developers face a legal void if defects emerge after the developer closes, a gap this new story exposes across Sydney.
Corroborated bytheage.com.au·watoday.com.au
✓ Claims checked against the source. checked 3 d ago
