The people who own homes in False Creek aren’t rich and they aren’t poor. They’re teachers, child-care workers, retired professionals and small-business owners. Over the past 30 years, most of the nearly 300 homeowners have paid out their leases, so this increase does not affect them.
But the owners of 118 units, like Ms. Greene, still pay monthly. Ms. Greene said she could never afford to buy out her lease, last tabulated at more than $30,000.
The new rates were passed unanimously by city council last month, though some politicians are now saying that they ‘didn’t fully understand the issue’.
Michael Flanigan, director of Vancouver’s real-estate services, said the increases were tabulated to reflect current market values. Mr. Flanigan stressed that the increases aren’t carved in stone; residents will have their say at a council meeting. He said consideration may be granted to those who can’t afford the fees.
“We are not insensitive,” Mr. Flanigan said in an interview. “Not all homeowners are in the same socio-economic class or have the capacity to pay these increases. . . . We don’t necessarily want to see economic evictions.”
No, we don’t necessarily want to see economic evictions, but you can’t make world class omelette’s without breaking a few eggs eh?