Councillors in Gibsons say having to shelve a deal with the developer of Soames Place is another sign their affordable housing policy needs to be updated, and soon.
The project on Gibsons Way was supposed to have two affordable units.
But the developer is having trouble selling them, because of all the conditions, and that’s causing issues with their financing.
Council voted this week to take away the restrictions because at least two units in the building are appraised at less than $241,000.
Councillor Silas White says a cash contribution would have been better.
There’s no formal deal for a contribution, but Mayor Wayne Rowe is suggesting something around $15,000 for each of the two units.