With a snap election and “an eye on the prize,” political candidates need to examine their vision by focusing on a housing opportunity. The Hudson's Bay Company was sold to an American family in 2008 and then sold to an investment syndicate. Now, the money-losing operation is willing to sell to the highest bidder.
The HBC is up for grabs at auction bankruptcy prices. Employees spent years of their lives working for a fur trading outpost that once stripped the hides off beavers to sell to the world’s wealthiest. Seems the HBC is now prepared to rip the shirts off the backs of the current employees and reward top management only. The HBC real estate value alone is worth billions and can well afford to pay its creditors and employees.
We need housing for the young, seniors, doctors, clinics, students, apprentices, people living with disabilities, snowbirds with money to invest, and the well-educated. The Canadian government should create a Sovereignty Fund, buy back the Canadian icon by attracting Canadian investors and use some lottery proceeds to purchase HBC for the housing that is needed now.
The Hudson's Bay buildings are solid structures standing in the centre of thriving communities. The HBC main floors should focus on retail shopping, local food, medical clinics supported by municipal taxes, and a new Olympic-size swimming pool for Saanich/Victoria. The addition of 10 storeys of efficient accommodation above would supply housing and a sense of community for an aging population. There are ample spaces for mobility scooter parking, inner courtyards, small parks with shade trees, walkability and close to transit.
Vote for candidates that will build the housing with Canadian products and resources, and not just promising hopes for votes. Canada’s Hudson's Bay Company was built on trade with the world. Trump’s tariffs and 51st state threats have taught Canadians and the world a lesson. Candidates need to be “eager beavers” and help return HBC to under the Canadian flag. Have a plan, please don’t auction our beaver dam. We need housing now.
Art Bickerton
Saanich
