B.C. Premier David Eby speaks during a B.C. NDP campaign event in Vancouver, B.C., Sept. 12 THE CANADIAN PRESS/Ethan Cairns
Premier David Eby calls it a “remarkable” accomplishment between the province and the Musqueam, Squamish and Tsleil-Waututh First Nations, which would see about 2,600 homes sold for 60 per cent of the value in one of the most expensive real estate markets in the world. There will be screening to stop speculators, while eligibility requirements for buyers include household income thresholds, set at $131,950 or less for studios and one-bedroom units, as well as pre-qualifying for a mortgage and a minimum deposit of five per cent.
A studio unit is expected to sell for a about $372,000, while the one-bedroom would be sold for $510,000 and a two-bedroom condo would go for $780,000. About 540 of the condos would be social housing.
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