• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • EN | FR
Background Image
Bennett Jones Logo
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events Subscribe
Quarterly M&A Insights Quarterly Fintech Insights New Energy Economy Series ESG & the CIO
Business Law Talks Podcast Economic Outlook Class Actions: Looking Forward
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 

Inside the Industry Efforts to Amend the Foreign Buyer Ban

April 04, 2023

Mark Lewis comments in STOREYS on how the real estate industry worked to get the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the foreign buyer ban) amended even before it came into effect on January 1, 2023.

""When the government published the regulations a couple of days before Christmas (to come into effect 10 days later), with terms that were not expected and which threatened a lot of commercial activity, that’s when everyone realized what a massively negative impact this was going to have on the ability to build new housing,” Mark Lewis tells STOREYS.

Lewis is a Partner at the Vancouver office of the Bennett Jones LLP law firm, Co-Head of the firm’s national Commercial Real Estate Group, and is also the Chair of the Urban Development Institute's (UDI) Legal Issues Committee in British Columbia. His practice is predominantly focused on the supply side of real estate and infrastructure development projects, where he often works with developers, lenders, and other project proponents.

“Our clients were not anticipating that the legislation was going to impact the supply side of the development equation; the government’s messaging when the Act was introduced was that it was to be focused only as a demand-side measure to reduce the competition for Canadians to buy residential property. As a result, the impact of this legislation was an immediate shock to the sector, in particular when the federal government published the regulations under the Act on December 21, 2022,” he says.

Lewis says that the federal government did a poor job of communicating and engaging with industry stakeholders, and that the development sector “took the government at its word” that the regulations would target demand and not supply.""

The full article is available here.

Key Contact

  • Mark V. Lewis Mark V. Lewis, Partner

Class Actions: Looking Forward

Related Links

  • Insights
  • Media
  • Subscribe

Related Expertise

  • Commercial Real Estate
  • Property Development & Real Estate

Recent Posts

In The News

John Manley on the Implications of a U.S. Shutdown for Canada

September 29, 2023
       

Speaking Engagements

Skyscrapers and Bungalows—Overview of Construction and Real Estate Insolvencies

September 29, 2023
       

Announcements

Bennett Jones Top Ranked in Chambers Canada 2024

September 28, 2023
       

In The News

David Dodge Says The Federal Fiscal Bender Is Finished

September 28, 2023
       

In The News

Former Central Bank Governor Warns Canada Faces More Austere Future

September 28, 2023
       

Speaking Engagements

Anne McLellan on the Energy Transition and a Long-Term Economic Vision for Canada

September 28, 2023
       

Speaking Engagements

David Dodge: Canada Must Adapt To Rapid and Extensive Structural Changes

September 28, 2023
       

Announcements

Leah Tolton New Board Member of Alberta Business Family Institute

September 27, 2023
       

Announcements

52 Lawyers Recognized in Lexpert Special Edition: Energy 2023

September 25, 2023
       
Bennett Jones Centennial Footer
Bennett Jones Centennial Footer
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones