One Stanley developer offers extra warranty

K&K Property, a developer involved in a controversy over possible improper steel reinforcement at a luxury residential project in Stanley, has announced it will provide homeowners with an extra structural warranty and free inspections. On Friday, in a statement, the company emphasized that, based on information from the Buildings Department, the overall structure of the house at the One Stanley development does not appear to pose any immediate danger.

The developer contacted the homeowner and suggested hiring independent professionals for an additional inspection, but the two parties could not come to an agreement. Subsequent conversations about transaction terms and the homeowner's demands also failed to reach a resolution. K&K Property reiterated that building safety and the homeowner's interests are its top priorities and stated they would fully cooperate with the department's investigation.

In addition to the original three-year defect liability period, the developer will offer an extra six-year structural warranty to buyers who have completed transactions, as well as those currently purchasing a home. The warranty will be calculated from the completion date. To ensure the property's structural integrity, K&K Property will also arrange for free inspections by independent, qualified professionals.