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This was done in Vancouver BC around the time of the 2010 Olympics. Right afterwards, the apartments built to house athletes, known as the Olympic village were being sold off. And since vancouver is a high cost of living city, they were expensive parcels.

Agyer the government sold those , guess what happened. The Marguerite Ford drug addiction recovery society gets approved for social housing right smack in the middle. Tanking the property values, but only after the government held property was sold off, at high cost, with no such building announced or planned