Lawsuits filed by B.C. Housing allege that affordable condo units in Victoria, meant to help middle-income homebuyers get into the market, were purchased by people who already owned property — in some cases, multiple homes worth millions.

Victoria

The government of British Columbia, through B.C. Housing, has initiated legal proceedings against individuals who bought affordable condominium units in Victoria. These units were specifically designed to assist middle-income earners in purchasing their first homes. The lawsuits allege that these affordable properties were instead acquired by individuals who already owned real estate, with some having ownership of several properties valued in the millions.

These legal actions highlight concerns that the intended beneficiaries of the affordable housing scheme, middle-income homebuyers seeking entry into the property market, are being bypassed. The individuals targeted by these lawsuits are accused of exploiting a program meant to alleviate the challenges faced by first-time buyers in a competitive housing market.



B.C. sues affordable housing buyers who own multiple properties

What happened at this condo building in Victoria is raising questions about the BC government's ability to live up to affordable housing promises. It's a total mess. The province provided a 53 million dollar low-interest loan to the developer of Vivid Condominiums. The goal? Those savings would be passed on to qualified buyers like Brady Quait. Household income? Less than 150 grand. Doesn't own any other properties. He promised to live in his one-bedroom condo for at least two years, no rentals. He bought the place for just over $308,000. That's below market. There was a sense of needing to be honest and truthful that I did fully meet those requirements. There was no part of me that was looking to game the system. But BC Housing says some of his neighbors were. It launched 13 lawsuits against buyers it alleges didn't even move in. Among them, a retiree who owns a 1.7 million dollar home. A couple owning five properties worth more than 3.2 million dollars. Another owning two condominiums and a company that owns or operates nine other properties. They weren't able to flag that people had multiple properties in a simple purchase transaction where a simple land title search connected to these people's names would have would have discovered that. BC Housing is also suing this real estate agent who it says bought a unit for herself didn't live in it and made 53 grand in commission selling to others. Nearly all of whom the government now says shouldn't have qualified. She denies the allegations and didn't return calls from CBC News. BC Housing says the buyers were vetted by the developer and a third party then audited by government. It's important to note that anyone that tries to use schemes to try to find ways to take affordable housing that's meant for people who are struggling will get caught and in this case they were. BC Housing is seeking punitive damages from the defendants as a deterrent. The developer, Charred Developments, would not comment while the cases are before the courts. Lindsay Dancombe, CBC News, Vancouver.

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Washington

Biden breaks silence on protests at University Campuses

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New York

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London

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Zaporizhzhia

Ukraine Invasion

U.S. accuses Russia of using chemical weapons in Ukraine

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Council of the City of Sydney

Grave fears for brothers missing on Mexico surf trip

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Bogotá

Israel-Gaza War

Colombia ends diplomatic relations with Israel

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Jerusalem

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Tbilisi

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The Hague

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Hainault

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Canberra

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Buenos Aires

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Odesa

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Edinburgh

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Lake Macquarie

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Kharkiv

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Madrid

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Riyadh

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Turin

Climate Crisis

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Beirut

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Sulphur

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Pescara

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