COPE Councillors Woodsworth and Cadman remain committed to the 250 units of affordable housing in the Millennium Olympic development in the wake of recently disclosed information about the financial status of the development.
The 2002-2005 COPE Council approved the development at SE False Creek which was one third low income, one third affordable and one third market housing, which the NPA subsequently converted to primarily market-housing. Now, the City is responsible for the completion of the expensive condos.
Councillor Cadman, now permitted to disclose his vote, voted against the April, 2007 deal which committed the city to the completion of a private 875 million dollar development. However, Cadman voted for the October, 2008 decision to advance up to $100 million to ensure the construction continued and “we didn’t have people downing tools and falling way behind in delivery of the Olympic Village.” He continues, “Our hands were already tied. Now we need to figure out how best to move forward, while reducing risk to the city’s taxpayers.”
Councillor Woodsworth, who has routinely brought up the issue of Olympic cost overruns, is concerned about the 250 units of affordable housing that are included as part of the project. “What we are absolutely clear on is that those units must remain no matter what. Maintaining and creating affordable housing must be a priority for this council.”