Poilievre criticizes federal-B.C. condo conversion plan

Conservative Leader Pierre Poilievre is criticizing a federal and British Columbia plan to buy vacant condos in Metro Vancouver and convert them into affordable housing, calling it a bailout for developers. The program was announced last week by Prime Minister Mark Carney and B.C. Premier David Eby as part of a broader federal infrastructure and housing agreement. Officials say the condo conversion partnership will use financing tools to turn more than 2,200 empty units into affordable homes over time. Supporters argue the plan could help add housing supply more quickly, while critics say it helps developers who built in a weak market and are now facing unsold inventory. Recent CMHC data show thousands of completed condos remain vacant in Metro Vancouver, reflecting a sharper rise in unabsorbed inventory over the past year. Poilievre said the government should instead cut taxes and red tape to encourage more homebuilding, while Carney and Eby say the funding will also support local infrastructure and lower development costs for multiunit housing.