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The Sahota family, which owns the the Regent and the Balmoral and other SROs in Vancouver, challenged the expropriation in court. Court proceedings were halted this fall as the city and the Sahotas negotiated a purchase agreement for the buildings.
On Dec. 4, The Tyee broke the news that ownership of the buildings had been transferred to the City of Vancouver.
But the city said it could not reveal the purchase price because the Sahotas had insisted on confidentiality. On Dec. 11, the Globe and Mail reported the city had paid over $7.5 million an amount city staff had estimated two years ago as the cost of expropriating the two hotels.