This brief article provides a decent explanation of a city bylaw that prevents building owners from converting SROs (Single Room Occupancy) into another use (like high-end condos) by imposing a $5000 fine per unit. Thus, a 50 unit building would be fined $250,000 making it an undesirable purchase for a prospective developer.
What this bylaw attempts to do is reduce the number of conversions of SRO units of which there are already dangerously low numbers. It is easy to argue that this is a good thing. The equation seems simple: we have a large number of homeless citizens so we need a large number of affordable homes. There seems to be little room for sympathy when we generalize and associate the developer with a money-hungry corporation; this article shows that there is a human side to these transactions with real-life consequences.
This article poses two interesting questions: Why are we fining individual property owners for wanting to reap the benefits of their own private interests? (ie cashing in on their own property, just like any other building owner hopes to do) Is it reasonable for the city to rely on PRIVATE interest to solve a SOCIAL housing problem?
2006-08-10 - The Georgia Straight - Small Building Owners Caught in Bylaw Trap
