Jason Proctor from CBC is delving into a string of legal actions initiated by the housing agency. They claim that condominium units in Victoria, intended to aid first-time homeowners, were instead bought by individuals who already possessed property. Some of these buyers reportedly owned multiple homes valued at millions of dollars.


March 06, 2024

Victoria's Vivid condominium development once hailed as a beacon of hope for affordable housing, now faces startling allegations. Initially funded by a $53-million low-interest loan from the province, Vivid was envisioned to offer below-market homes for middle-income families.

However, recent court documents obtained by CBC suggest a darker reality. It's alleged that numerous condos within the project were sold to individuals who already owned multiple properties, contradicting agreements meant to ensure affordability. B.C. Housing, in a series of civil claims, accuses several buyers, including a realtor, of exploiting the system for personal gain. These claims have sent shockwaves through the community, challenging the integrity of the affordable housing initiative.

Vivid was presented as a 'pilot project' to tackle the pressing issue of housing affordability. B.C. Housing administered the Affordable Home Ownership Program, aiming to provide opportunities for those otherwise unable to own a home. The project received substantial backing from the government, including a significant loan to the developer, Chard Developments. It was expected that these funds would translate into discounted prices for qualified buyers, making homeownership attainable for middle-income families. However, the allegations now cast doubt on the effectiveness and sincerity of the initiative.

To qualify for a unit at Vivid, buyers had to meet certain criteria, including citizenship or permanent residency status and limitations on property ownership and household income. Additionally, they were obligated to make the purchased unit their primary residence for a specified period. Yet, according to court documents, at least 13 buyers failed to fulfill these requirements, raising questions about oversight and accountability.

The lawsuits reveal a spectrum of alleged misconduct, ranging from failure to occupy the purchased units to engaging in rental activities prohibited by the agreements. Some buyers, it's claimed, even possessed substantial property portfolios elsewhere, contrary to program eligibility rules. Among those implicated is a real estate agent accused of profiting from facilitating these transactions.

The repercussions of these allegations extend beyond legal matters. B.C. Housing seeks not only to reclaim the units but also to recoup rental income and impose punitive damages. The gravity of the situation underscores the critical need for affordable housing initiatives and the importance of ensuring their integrity and effectiveness.

As the legal battle unfolds, key players named in the suits have responded, denying wrongdoing or citing misunderstandings. Yet, these responses only add layers to the complex narrative surrounding Vivid and its purported mission to address housing affordability.

In the absence of further comments from involved parties, the community is left grappling with the unsettling revelations. The outcome of this legal saga will undoubtedly shape perceptions of affordable housing initiatives and raise crucial questions about their implementation and oversight.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

You may also like

Toronto Police Union Calls For Action After Stabbing Suspect Released On Bail

Toronto’s police union is raising concerns after learning that the suspect in three recent random stabbings had previously been released....

Conservatives Drop Montreal Candidate Over Social Media Posts

A Conservative Party candidate in Montreal has been removed after posts he made on social media. Stefan Marquis, who was....

Man Shot And Killed In Car At Busy Brampton Plaza, Police Say

A man lost his life after being shot while sitting in a vehicle at a crowded Brampton plaza on Tuesday....

Cory Booker Sets Record With 25-Hour Senate Speech Criticizing Trump

Senator Cory Booker made history with a 25-hour speech in the Senate, setting a new record while speaking against former....

Poilievre Faces Backlash For Comments On 'Biological Clocks'

Conservative Leader Pierre Poilievre is facing criticism for comments about young people struggling to buy homes before their "biological clocks"....

Susan Crawford Wins Wisconsin Supreme Court Race Despite Musk’s Push

Susan Crawford has won a 10-year term on the Wisconsin Supreme Court, securing a key victory for liberals. She defeated....

Windsor-Essex May See Up To 50mm Of Rainfall Soon, Flood Watch Issued

Environment Canada has issued a warning about heavy rain expected this week. Forecasters say rainfall could reach 30 to 50....

Carney refuses to fire official over Chinese bounty remark on candidate

Liberal leader Mark Carney announced on Monday that he would not remove Paul Chiang as a candidate in the Markham-Unionville....

Cory Booker Delivers Long Senate Speech In Protest Of Trump

Senator Cory Booker from New Jersey gave a powerful, all-night speech in the Senate, protesting President Donald Trump’s actions. Starting....

Liberals Lead By 8 Points As Election Race Heats Up

Canada's election race is in full swing, with recent polls showing the Liberal Party gaining an eight-point lead over the....

Elon Musk Says He Gave Ashley St. Clair $2.5M In Child Support

Elon Musk is denying accusations that he has financially punished Ashley St. Clair and their child. The controversy started when....

Virginia Giuffre Hospitalized After Serious Car Crash

Virginia Giuffre, one of the most well-known accusers of Jeffrey Epstein, is in the hospital after a severe car accident.....