Vancouver council shot down a plan Tuesday to create a city-owned enterprise to develop market rental housing, with some politicians saying they needed more information before approving a proposal to leverage real estate risk to reward the public purse.

The plan was supported by all members of ABC Vancouver, who argued it could generate millions in non-tax revenue that could help fund infrastructure renewal, civic amenities and other council priorities while reducing pressure on property taxes.

But even though ABC controls seven of 11 seats on council, it was not enough Tuesday; because the decision involves transferring city-owned real estate, which requires more than a simple council majority. Instead, such a move needs a two-thirds majority, which means eight votes.

Each of the four

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