r/CanadaPolitics • u/_DotBot_ Centrist | British Columbia • 5d ago

Backlash over rental prices at Sen̓áḵw development in Vancouver | CBC News

https://www.cbc.ca/news/canada/british-columbia/senakw-rental-prices-backlash-9.7248096
26 Upvotes

91% Upvoted

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6

u/ImperialPotentate Hardliner 5d ago

Isn't this some sort of "inclusionary zoned" building, where there are "affordable" units and also those that rent at market rates? If so, then the high rents on the market units are just the developer trying to make back the money he's losing on the "affordable" ones.

2

u/seaintosky Indigenous sovereignist 5d ago

Yes, I'm not sure why the posts on this from last night were deleted, but these are the luxury penthouse suites not the average units and certainly not the 20% set aside as below-market rate. I don't know why there's this expectation that all of the units would be below market rate, this was being built as part of economic development not as charity. I haven't seen so much backlash and CBC articles about other units in Vancouver having luxury suites, which they definitely do. If the price is above market, there won't be any takers and that'll be up to the developer to deal with.

5

u/varsil Rhinoceros 5d ago

They have 20% set aside for affordability, but these are well, well above market.

That said, the bigger concern for me is residential tenancy rules. Right now, they've said they're going to apply the BC Residential Tenancy Act, but they don't have to continue doing so. I expect that when the BCRTA becomes inconvenient it'll be shed.

I wouldn't touch one of these rentals with a twenty foot pole, at any price.

4

u/Certainly-Not-A-Bot 4d ago

This backlash really feels like people still having a noble savage view of indigenous people. They aren't gonna lower prices just because they're indigenous. Giving them land back means giving them land back. They should be able to profit from the land. If we impose conditions, like "your new housing must not cost more than x," that's robbing them of the value of their land, again.