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BCBUSINESS.CA MARCH 2016 BCBUSINESS 31 reports of Vancouver's housing market being treated as a commodity for the world's wealthiest citizens, with people parking their money in Vancouver real estate simply for profit. I firmly believe that housing should not be treated solely as an investment commodity." Clark responded by saying there was no foreign investment problem to speak of, citing information supplied by the B.C. Real Estate Association, and saying "any method of new taxation" could hurt those homeowners with equity. She also accused the city of driving up housing costs with inflated development levies and recommended that the city increase supply of housing "through better land-use planning." After that f leeting game of pass-the- buck, however, the issue appears to have been dropped. one of this is to say the Boffo tower in east Vancouver is as problematic as the sea of luxury towers dot- ting Coal Harbour and Yaletown. The Kettle project is a modest one in the grand scheme of things, although its ratio of building size to land area is high for the neighbourhood (more than twice the current allowable f loor space ratio). And at least 25 per cent of the condos, all mid-market pricing, would be two- or three- bedroom units—good for young families who oth- erwise couldn't afford to buy in the area. Indeed, not all the neighbours are opposed to the pro- ject: a minority report that came out of the Grandview-Woodlands citizens assembly found one-third in support of its building form. Jak King, speaking for the majority, sums up the reasons for opposition in three key points: his group doesn't like the tower form itself; they are opposed to a private developer provid- ing social housing; and they feel they are having density foisted upon them. They would like the Kettle Society to expand its services in a way that doesn't involve the development of a tower, such as borrowing money from the bank. There is also a fear of displacement: King lives a block and a half away from the Boffo site, on Adanac Street where a large old Victorian rental house was torn down two years ago and replaced with a condo project; before that, just next door, an old two-storey walkup was redeveloped into condos. The area, he says, "has gone from 20 low- income rental units to 20 expensive market homes—and it's a complete change of culture." While there's widespread agree- ment that density needs to come to Canada's most expensive real estate market, the need for smart, measured development is critical, says Elizabeth Murphy. "The last thing we should be doing is rushing into commitments that are going to permanently change the nature of the city without thinking it through." • "THE ESCALATION IN HOUSING PRICES COINCIDES WITH INCREASING REPORTS OF VANCOUVER'S HOUSING MARKET BEING TREATED AS A COMMODITY FOR THE WORLD'S WEALTHIEST," WROTE VANCOUVER MAYOR GREGOR ROBERTSON IN A 2015 LETTER TO PREMIER CLARK. "I FIRMLY BELIEVE THAT HOUSING SHOULD NOT BE TREATED SOLELY AS AN INVESTMENT COMMODITY" Q: What steps can women take when striving to become leaders? A: Start by identifying a goal that aligns with both your own and your company's ultimate objectives. Develop a plan that specifi cally details the actions you will take and the resources you will need to achieve that goal. Seek out a trusted mentor or sponsor to give you feedback and help you gain the buy-in you will need to inspire others to follow your lead. Be confi dent... you can do this! Q: What is the most important leadership lesson you have learned? A: Choosing only one, the most important lesson would be having confi dence. Achieving the goals that you set for yourself and leading other people starts with having self confi - dence in your own abilities. The path to goal achievement may require you to change your plans several times, and self confi dence is the foundation which will help you continue to push forward and not abandon your goal in light of those changes. Exhibiting confi dence in yourself also encourages the people you lead to believe in themselves, resulting in a better team. People are not going to see you as a leader if you do not see yourself as one. ASK AN ADVISOR L: Jody Hatto, CPA, CA, TEP R: Harjit Takhar, CPA, CA Offi ces located in Vancouver & Abbotsford, British Columbia, Canada Visit us at www.manningelliott.com Have Additional Questions? Call 604-714-3600 Manning Elliott takes pride in acting as trusted business advisors to all of its clients. If you would like further insight into your business, contact one of our business advisors today!

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