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City chooses operator for social housing buildings at Olympic village

November 4th, 2010 · 22 Comments

Well, even if the 480 market condos are sitting empty, at least some people will be moving in.

After some uproar when the province said none of the three non-profits who applied was suitable to run the social housing, the city took over.

It has chosen, as outlined in this report, the Co-operative Housing Federation of B.C. That experienced group will manage the one building it actually bid on, Building 2, the mostly market-rental building, for 60 years.

As well, one of its offshoots will manage the two buildings that are mostly the subsidized units for two years, which will allow everyone to figure out if the maintenance costs on these units is as unpredictable or as high as some people feared. Renters will be moved in ASAP, giving the place a little more life.

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