Vancouver House is appearing in and above the skyline – in this case from the South False Creek greenway across from Granville Island:
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We’ll see when it is done and the titles are registered how this “edifice complex” building contributed to “affordable” housing… (book: https://www.amazon.com/Edifice-Complex-Powerful-Shape-World/dp/1594200688 )
Yay future slums!
Not every project needs to contribute to affordable housing through the zoning / city-permitting process.
There will be land transfer taxes levied and paid on these properties whenever they are sold that will end up in Provincial coffers, one-time GST that will end up in Federal coffers, as well as annual property taxes paid by the owners to the City of Vancouver.
That is – compared to the taxes paid or generated by the mini-storage and garage that formerly occupied the site.