Developers didn’t ask ‘directly’ for B.C. vacant condo plan, Carney says (opens original article in a new tab)

Prime Minister Mark Carney said developers did not directly ask for the B.C. vacant condo plan, which aims to convert empty units into affordable housing, but faced criticism as a potential developer bailout.

• Prime Minister Mark Carney stated developers did not directly request the federal-provincial plan to buy vacant condos for affordable housing in B.C.
• The plan aims to convert distressed condos into rent-to-own properties, with about 10% of $1.4 billion allocated for the initiative.
• Opposition leaders criticized the plan as a bailout for developers, with claims it would shift costs to taxpayers.