Real estate “flips” | Coderre had “good discussions” with his candidate in Verdun

Denis Coderre assures that he had “good discussions” with the candidate for mayor of Verdun Antoine Richard, in the wake of revelations that he had carried out real estate “flips” while his neighborhood faces a lack of affordable housing.

the Journal of Montreal revealed Wednesday that Mr. Richard, a former restaurateur now real estate broker, touched just over $ 470,000 in two months by performing at least two “flips”. More and more widespread, this practice amounts roughly to acquiring a property at a low price, then to re-type it for the sole purpose of reselling it and profiting from it.

In writing, Mr. Coderre maintained that he and his team “had good discussions with Antoine Richard regarding real estate practices”. “His professional order followed the case closely, we are relying on their good judgment. We reiterate our confidence in our candidate, ”he offered.

His press secretary, Elizabeth Lemay, also argued that “Mr. Richard’s real estate practices are not prohibited, as the Journal of Montreal, but simply not recommended ”. The party thus refers to the position of the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), which suggests avoiding “flips” insofar as “the broker must at all times avoid placing himself in a situation. conflict of interest ”.

“When it comes to real estate practices, Projet Montréal is not well placed to teach us a lesson. Shortly before adopting a by-law prohibiting the conversion of a building, Valérie Plante herself removed one of the apartments in her multiplex to expand hers. That too is questionable ”, also lambasted Mme Lemay.

Valérie Plante replica

The outgoing mayor Valérie Plante for her part hammered Wednesday that these revelations “are added to others” concerning the vision of Denis Coderre in housing. “For him, housing is a consumer good, while for us, it is a fundamental right,” she said.

“What we are learning about the candidate for mayor of Verdun, which is one of the districts most affected by” flips “and speculation, I find it very disturbing. […] For me it is a failure. The housing credibility test, Denis Coderre and his team do not pass, ”she then hammered, accusing Mr. Richard of“ bending the rules ”by“ removing affordable housing for families ”.

Mme Plante at the same time promised that his administration intends to “stand up to the promoters”, also reproaching his opponent for proposing “a false register of leases, which would be done on a voluntary basis”. “It already exists, and it’s not what people are asking for. It’s a bit like the 40 million he wants to give to developers to transform office towers into housing, ”she said.

Several other candidates from the Coderre team have found themselves in controversy in recent weeks. Last week, Ryan District candidate in Outremont, Dan Kraft, had to apologize for sharing content on social media in the past challenging climate change and discrimination against blacks.

In September, Denis Coderre’s candidate for mayor of Lachine, Julie-Pascale Provost, was shown the door because she refused to be vaccinated against COVID-19. Shortly before, the party had excluded its candidate Joe Ortona because of the anti-nationalist positions of the English-Montreal school board, of which he is the big boss. The party also backtracked in June on the appointment of boxer Ali Nestor as “special adviser”, when it learned that he was accused of sexual assault.

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