In Vancouver, a billionaire developer catches a garden tax break

Vancouver’s Little Mountain redevelopment, a 15-acre site near Queen Elizabeth Park owned by Holborn Group—a company linked to a Malaysian billionaire family—has seen two sections reclassified as community gardens and dog parks since fall 2025. The move reduced Holborn’s tax burden by roughly $315,000, part of a broader citywide tax shortfall of $913,300 caused by 10 properties reclassified under similar schemes. The approved project, purchased from the province in 2008, was meant to include 1,400 market homes, 234 social-housing units, and public amenities, but construction has stalled for years. The tax break stems from BC Assessment’s practice of classifying properties based on their use by October 31 each year. While the land retains its development potential, its temporary reclassification as parks and gardens qualifies it for a lower tax rate. Private dog parks require a time-limited permit, while community gardens do not, allowing developers to exploit the system legally. The City of Vancouver stated it does not endorse such conversions as a tax strategy but lacks direct control over property classifications. Neighbors like Aaron Williamson, who lives adjacent to the site, initially welcomed the public access but now criticize the poorly maintained spaces. The two dog parks and one community garden, along with plans for a third dog park, feel underdeveloped, with worn-down areas and sparse improvements. Williamson’s frustration reflects broader concerns about Holborn’s slow progress, as only $35 million of the $334 million project cost has been spent since redevelopment began in 2008. The Little Mountain site has been controversial for nearly two decades, originally a public housing complex transferred from the federal government to the province in 2007. Most residents were relocated by 2009, but the redevelopment has faced delays, leaving the land vacant for years. Critics argue Holborn’s tax avoidance tactics undermine public trust, especially as the city grapples with housing shortages and rising costs. The provincial Ministry of Housing and Municipal Affairs confirmed cities determine whether community gardens or dog parks are allowed, but the onus falls on BC Assessment to classify properties accordingly. While the practice is legal, it shifts the tax burden to other property owners, raising questions about fairness and accountability in Vancouver’s real estate market.