601 Beach Crescent | 202m | 67fl | Proposed

[jollyburger]

From a few days ago

A vacant downtown Vancouver lot and a promise of housing unfulfilled

On an empty, overgrown downtown Vancouver lot, 152 units of social housing remain unbuilt almost nine years after the city sold the land to a developer. With no sign of development in a slowed down real estate market, it’s unclear when the desperately needed housing will be delivered.

As part of the sales contract, the city has until May 3 to buy the land back from the developer. But if it plans to act on the option, it’s not saying.

And although the city’s auditor-general couldn’t give specifics, the site at 601 Beach Cres., is expected to be included in an upcoming audit on how public lands have been sold off.

“I can confirm that my office is currently conducting an audit of city land sales,” said Auditor-General Mike Macdonell in an e-mail. “However, Canadian audit standards prevent me from speaking to the details of this work until it is complete.”

“Right now we have ceased marketing,” said Grace Kwok, vice-president of Anson Realty and sales director for 601 Beach.

Ms. Kwok couldn’t comment on future plans.

https://www.theglobeandmail.com/real-est...ot-and-a-promise-of-housing-unfulfilled/