THE B.C. Liberals on Thursday said that recently uncovered documents show that not only has this NDP government failed on their promises of improving housing affordability, but it has actively engaged in flipping properties for profit, leaving hundreds of families at risk of being demovicted by the redevelopment of the site.
“For five years the NDP has promised to make life more affordable for British Columbians, but instead of taking steps to improve the situation, we now know they have participated in real estate deals that could leave people homeless,” said Mike Bernier, BC Liberal Critic for Housing. “The NDP purchased an Abbotsford property in 2020 through ICBC and flipped it for a profit, selling it as a redevelopment opportunity that could displace the current residents. It’s appalling that a government that brought in legislation to prevent renovictions could in essence do that very thing to these families. If this is what the NDP sees as a measure to solve the housing crisis, it’s no wonder B.C. is seeing higher housing costs than ever before.”
The B.C. Liberals said that in December of 2021, the residents of Meadowood Place in Abbotsford received letters notifying them that ICBC had sold their homes to Northchild Properties. Marketing information for the property describes it as “one of the largest rental properties in Abbotsford” and as having “the potential to unlock significant value through a phased development.” Meanwhile, the NDP are also demovicting 46 families from the Alma Blackwell residence in Vancouver through their own Community Housing Fund. The families say that after the affordable housing they live in is demolished and rebuilt, the NDP are going to rent it back to them at up to twice the price, totaling $3,250 per month.
“It is incredibly frustrating that this government has not only failed to improve housing affordability as they promised, but they are also making decisions that could make the situation worse for hundreds of people,” said Bernier. “Housing prices across B.C. are higher than ever, rents are up, and far too many people cannot find and affordable place to live. People trusted the NDP when they said they would work to solve the housing crisis, but all they got in return was broken promises and a front row seat to NDP hypocrisy.”
On average, rents in Metro Vancouver have increased by $2,532 per year under the NDP compared to 2017, the B.C. Liberals said.