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The City of Vancouver wants to expropriate two notorious Downtown Eastside hotels for a dollar each.

The Balmoral is at 159 East Hastings St., and has an assessed value of $3,239,300. The Regent is across the street at 160 East Hastings, and has an assessed value of $3,168,100. But the city argues that the buildings are in such rough shape that they have a negative value.

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A report from CWPC property consultants says both properties face “significant renovation and removal-of-hazardous-materials costs,” which produces a negative value of minus $22,960,000 for the Balmoral and minus $17,840,000 for the Regent.

The report also argues the buildings have a negative value if only demolition costs are considered: “Land value less demolition and hazardous-material-removal-costs” results in a negative value of minus $240,000 for the Balmoral and minus $100,000 for the Regent.

The proposal to expropriate the hotels will be discussed at Vancouver city council Nov. 6. And DTES activist Wendy Pedersen plans to be there.