VANCOUVER — The City of Vancouver has reached a settlement with the Balmoral and Regent hotels to expropriate the properties.
Officials approved the settlement which will see the properties turned into low-income housing under the direction of BC Housing.
“Bringing the Regent and Balmoral into public ownership marks a hopeful new beginning for residents of the Downtown Eastside and something all residents should be proud of,” said Mayor Kennedy Stewart in a statement. “Downtown Eastside residents will be at the centre of creating a new vision for these two sites, and indeed the entire community. I want to thank city council, the Government of B.C., and BC Housing for continuing to work together with the community to provide housing that is healthy, safe, and supportive — housing that heals lives and changes futures.”
The properties have been at odds with police and city officials after decades of underinvestment and unaddressed life-safety issues. The two buildings became so unsafe that they were ordered closed in 2017 and 2019.
The city began the expropriation process in 2019 which resulted in the owners filing for a judicial review. The city said it settled with the owners in order to avoid a judicial review which could have resulted in claims for greater compensation. Officials also wanted to get the planning and community engagement process for the future of the properties started as quickly as possible.
“For too long, people had to live in sub-standard living conditions in these buildings. The acquisition of these properties is welcome news and I would like to commend the City of Vancouver for their efforts,” said David Eby, housing minister. “We look forward to working with the city to turn these buildings into the kind of homes people will be proud to live in for years to come.”
Recent Comments
comments for this post are closed