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Rental Protection Fund Pre-Approves 22 Non-Profit Housing Organizations for Property Acquisition

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Housing News

Rental Protection Fund,Non-Profit Housing Organizations,Property Acquisition

The Rental Protection Fund has pre-approved 22 non-profit housing organizations for property acquisition, with 25 properties currently being considered across British Columbia. The properties, owned by the private sector, will help shift affordable rental housing stock towards the non-profit sector.

After officially launching its operations in late June, the Rental Protection Fund announced on Tuesday morning that 22 non-profit housing organizations have been pre-approved and that 25 properties across British Columbia are currently being considered for acquisition.

The Rental Protection Fund has not revealed the properties being considered, but all 25 properties are currently owned by the private sector, aligning with the fund's mission of shifting affordable rental housing stock towards the non-profit sector. "That's one thing we are very pleased about — the broad mix of the first cohort," says Maslechko. "How geographically dispersed they are. There's variety in scale as well, which is also great to see because the scale of a given organization and their current portfolio does tend to reflect on the scale of the buildings they're interested in acquiring.

The concept behind the Rental Protection Fund is relatively new in Canada, but is one that has been suggested by housing advocates, including the Canadian Centre for Housing Rights in an

 

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