Mo­tion to pro­tect Van­cou­verites from ‘ren­ovic­tion’ sparks de­vel­oper warn­ing

StarMetro Vancouver - - VANCOUVER - JEN ST. DE­NIS

Van­cou­ver—apart­ment­build­ing own­ers are warn­ing that a Dec. 4 mo­tion passed by Van­cou­ver City Coun­cil will lead to a dra­matic with­drawal of in­vest­ment in both ex­ist­ing and new rental build­ings.

The mo­tion passed unan­i­mously and aims to bet­ter pro­tect renters whose land­lords are try­ing to evict them in or­der to ren­o­vate the units and rent them at a higher rate.

Jon Stovell, pres­i­dent of Re­liance Prop­er­ties, said he is not con­cerned about some parts of the mo­tion, such as a com­mit­ment to track apart­ment-build­ing sales, in­form ten­ants of their rights and ex­plore how the city can track and reg­u­late buy­out of­fers made to ten­ants. It’s this por­tion that par­tic­u­larly con­cerns Stovell: “Re­quire land­lords to of­fer dis­placed ten­ants the op­por­tu­nity to tem­po­rar­ily move out for the nec­es­sary du­ra­tion of the ren­o­va­tions with­out their leases end­ing or rent in­creas­ing.”

Stovell’s com­pany is cur­rently try­ing to empty a 58unit apart­ment build­ing in Van­cou­ver’s West End in or­der to start a huge ren­o­va­tion.

Get the full story at thes­tar.com/van­cou­ver

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