Canada

Initiated by: Arman Keyvanskhou from Vancouver, British Columbia

Whereas:

The federal government has announced the Canada–British Columbia Partnership on Condo Conversion, through Build Canada Homes and BC Housing, to use federal support and financing tools to convert more than 2,200 vacant condominium units in priority growth areas in British Columbia into affordable homes

Federal tax dollars are paid by Canadians across the country and should not be used to protect Vancouver-area condominium developers, investors, or lenders from losses created by speculative overbuilding, inflated land values, weak demand, or failed market assumptions

Metro Vancouver has record levels of completed and unabsorbed condominium inventory, and unsold units should be allowed to fall to prices that households can afford through open-market discounts, creditor losses, or receivership before public acquisition is considered

Condominium developers and landowners have benefited for decades from rising land values, public infrastructure, favourable planning decisions, and strong private returns, and should not shift downside risk onto taxpayers when market conditions change.

History:

Open for signature: June 26, 2026

Closed for signature: October 24, 2026

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