July 21, 2010
Whenever some company, whether affiliated with the government or not, wants to make a change to an area, homeowners complain and complain.
You’ll remember that old Simpsons’ line that Milhouse’s mom frequently said “Won’t somebody PLEASE think of the children?”. Those are the type of people I’m talking about.
But BC Hydro has taken a different approach. When they wanted to build a power line in Tsawwassen just south of Vancouver, homeowners complained. But instead of a slow set of negotiations that would have ended in the dissatisfaction of all and a ton of wasted time, BC Hydro did something else.
The corporation spent an estimated $60 million to buy 104 of the 138 homes in the Tsawwassen Heights neighbourhood in 2009. CBC News
You might be thinking…so what’s the plan now? Well, they’re reselling them of course! They started selling in September including an discount incentive of about $70,000 per home. And they’re making great headway! They’ve already sold 50 homes!
Only problem is, it might be a bit harder to sell the remaining homes as the market slows, but who knows! It might be easier to sell the remaining homes since the area is no longer a temporary ghost town full of for sale signs.
Either way, a unique approach around public outcry. Buying and reselling the homes to people who won’t care– if there’s a discount of course.