Money risk scares off Village bidders - Metro US

Money risk scares off Village bidders

The director of the Portland Hotel Society is not surprised by news that only three organizations put forward bids to manage 252 units of social housing at Vancouver’s $1-billion Olympic Village.

PHS director Mark Townsend, whose non-profit housing organization was one of three bidders rejected by the province to run the mixed-market and social-housing units, said something is amiss if so many organizations were put off by the request for proposals.

“The main reason, outside of short timeline and amount of work to put in the bid, was that the finances are so tight,” Townsend said. “There’s a lot of risk involved.”

The province rejected two of the bids for lack of experience and a third organization because it had applied to create a co-op, according to a news report.

Coun. Geoff Meggs said it was frustrating to hear the province had rejected the proposals before the ink was even dry.

“We don’t understand what is so difficult,” Meggs said.

“We’ve built and paid for a very nice complex that would take about 120 families off the (B.C. Housing) waiting list.”

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