As well as the day to day operational maintenance of the building, the Board also takes a long term view and has a Major Projects list which span the next 15 years. This is similar to the Long Term Maintenance Plan that Body Corporates of other apartment buildings are required to keep.
These major projects are funded by the shareholders on a sinking fund basis, in order to spread the cost over many years and to ensure all owners contribute to the long term maintenance of the building.
An upgrade of the building's 1930s era electrical distribution system, including replacement of the main switchboard, the floor distribution boards and much of the wiring, was finished in 2016. The upgrade also provided some future proofing for the lift machinery room, allows the connection of an emergency generator, and even includes spare circuits for electric vehicle charging.
Completed for under $120,000 it provides safe and reliable power for the increasing modern electrical loads required by residents.
The restoration of the lift began in 2014 with the major service of the motor and gearbox. Now that the motor and gearbox have a clean bill of health, the controller upgrade, car refurbishment and ground floor door replacement are expected to begin in 2020.
Refurbishments of the lift exterior doors on all the other floors will be completed in 2021.
The lift restoration project is expected to cost well in excess of $150,000.
Other projects in progress or planned for 2020 and beyond include:
- Paint and carpet upgrade of interior shared spaces
- Roof garden (see concept drawing)