The best thing we could do with that money would be expanding skytrain coverage and increasing performance. Specifically skytrain/metro - not fucking light rail or b-lines.
this post was submitted on 20 Feb 2024
18 points (90.9% liked)
British Columbia
1330 readers
54 users here now
News, highlights and more relating to this great province!
founded 3 years ago
MODERATORS
Hopefully there is a clause that the units don't go to airbnb hosts, otherwise extra units meams nothing
New regulations should help starting May 1, 2024
Only a homeowner’s principal residence plus one secondary suite or accessory dwelling unit will be available for vacation rentals shorter than 30 days, with maximum fines of up to $50,000 for non-compliance.
It’s not a complete ban, but it bans mass AirBNB rentals.
Better than nothing I guess
$2 billion, and they're only hoping to finance 8000-10000 total units. You could build those in Victoria alone and still not have an impact on Victoria pricing, and this is for the whole province.
The scale of this problem makes throwing money at it completely useless.