March 29, 2024

How involved should the Crown get with developers?

Another anti-development rally is set for next week on Vancouver’s downtown eastside.
 
This follows what activists call a ‘bail out’ by BC Housing to help a developer who wants to build condos, as well as  a few social housing units, at Hastings and Columbia.

Ivan Drury says the Crown Corporation has given the developer a multi-million-dollar loan with a very low interest rate, “We think that BC Housing should get out of the business and not enter the business of supporting private condo developers in order to get meagre social housing provisions.”

He also cites long-running concerns such as forcing out the low-income people who live on that block, and driving up real estate prices.

CKNW Vancouver News

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