[supafamous]

Originally Posted by mikemhg

The only thing I'll give Burnaby credit for in regards to the rental buildings -- from what I read they are using part of that surplus to subsidize the rent for those that had their rental buildings knocked down for new condos. Essentially the city will grandfather their prior rent cost in the new buildings, or offer them a buyout (both using surplus funds).

Not sure if that's true or not, but I'd hope so.

It's a damn shame so many of those rental buildings are being knocked down in Burnaby for new condos, they were the last bastion of affordable housing in the Metrotown area.

Yeah, I don't know exactly where the money is coming from but they are subsidising displaced renters now. https://www.burnaby.ca/our-city/news...istance-policy

The policy now is so strong because City Hall screwed up so bad - at least some real good came out of it.