A real estate professional in Victoria has been penalized with a $200,000 fine and a six-month license suspension for purchasing an affordable housing unit at the Vivid condominium building and subsequently leasing it out, as revealed in a consent order released by the B.C. Financial Services Authority (BCFSA).
Jason Leslie acquired a unit in the downtown Vancouver development in 2021 without meeting the required qualifications, a violation outlined in the agreement. Despite regulations stipulating that the Vivid was designated for below-market rate sales to occupants and did not permit rentals, Leslie rented out the unit for over eight months.
A previous report by CBC News in 2024 highlighted multiple individuals accused by B.C. Housing of purchasing properties at Vivid despite owning other high-value properties. The BCFSA consent agreement disclosed Leslie’s purchase of a 505-square-foot one-bedroom unit at Vivid in February 2018.
The construction of the 135-unit development was supported by a $53-million low-interest loan from the province to facilitate affordable housing sales. The property was subject to an affordable home ownership covenant, restricting purchases to individuals with a gross annual income below $150,000 who intended to make the unit their primary residence.
Following his possession of the unit in May 2021, Leslie rented it out to a tenant a month later. B.C. Housing’s audit in March 2022 determined Leslie’s ineligibility for the purchase. Acting as an agent for three unit sales at Vivid, Leslie eventually sold his unit back to B.C. Housing in September 2022, refunding the rental income and commission earned.
The BCFSA investigation found Leslie guilty of professional misconduct for self-representation in the purchase of the affordable housing unit, despite not intending to reside there. Consequently, his real estate license has been suspended for six months, with a requirement for supervision by another broker for a further 12 months post-suspension.
CBC News attempted to contact Leslie’s office for comments but was informed by a staff member that his availability for an interview was uncertain.