Eby compares condo-purchase plan to “liquidation” at below construction costs

B.C.’s Eby compares condo plan to ‘liquidation’ at below construction costs

The plan on conversion of unsold condos in B.C. was part of $5-billion infrastructure spending announcement the federal and provincial governments announced last month.

Eby compares condo-purchase plan to 'liquidation'

Carney and Eby announced the plan last month to fund the purchase of more than 2,000 unsold condos with the intention of converting them to rentals or affordable housing under a rent-to-buy scheme. Opponents have described it as a bailout for developers, a description the BC premier says doesn't fit.

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Eby compares condo-purchase plan to ‘liquidation’ at below construction costs

British Columbia Premier David Eby says a joint federal-provincial plan to convert unsold condominiums into affordable housing would be like buying something “on liquidation.”

Eby compares condo-purchase plan to 'liquidation' at below construction costs

British Columbia Premier David Eby says a joint federal-provincial plan to convert unsold condominiums into affordable housing would be like buying something "on liquidation."

Eby compares condo-purchase plan to “liquidation” at below construction costs

VANCOUVER - British Columbia Premier David Eby says a joint federal-provincial plan to convert unsold condominiums into affordable housing would be like buying something "on liquidation."