Vancouver council’s decision not to create a municipally owned market housing corporation creates uncertainty for thousands of homes envisioned for city-owned lands.

Tuesday marked a rare instance when council’s ABC Vancouver majority failed to approve an item. The proposal to create a separate housing enterprise, wholly owned by the city, was supported by all seven ABC members, who argued the move could generate millions in non-tax revenue to help fund infrastructure and amenities, while reducing pressure on property taxes.

But because the decision involved the transfer of city-owned real estate, it required more than a simple council majority. Such a move needs a two-thirds “supermajority,” which means eight votes out of 11. ABC was a single vote short.

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