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Economic downturn means money savings for B.C. Housing

December 5th, 2008 · 4 Comments

I’ve heard some people fretting that the province may be stalling on construction of all its fancy new social housing projects, specifically the 12 fast-tracked ones in Vancouver.

But, au contraire, it seems as though they’re just working out a better deal.

As the construction industry crashes in B.C., it’s not all bleak news, it turns out. Or at least for us, the taxpayers.

B.C. Housing may actually benefit, as it moves into the building phase for much-anticipated 12 sites in Vancouver. The first projects are in the bidding phase and it is anticipated that,  by holding off on some others until the new year, the agency will be able to get the best prices as suddenly-short-on-work companies are now bidding competitively against each other to get jobs.

That’s all quite a difference from just a few months ago, when companies could barely get contractors and sub-trades to put in a bid.

Now, bidding is brisk and it’s tenderer’s market.

Craig Crawford, the development services vp at BC Housing, doesn’t have info on what the final savings might be, obviously, but the general direction is good for us taxpayers.

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