The money is being used to start an investment trust that would work to attract private-sector investors then build new housing or convert existing buildings into affordable units.
The building projects could be run by non-profit groups, which could leverage more money from other government programs. Housing, Addictions and Homelessness Minister Bernadette Smith says the initiative aims to have three housing projects within the coming year, as a start. The trust is being developed by the Business Council of Manitoba and is formally called the Collaborative Housing Alliance Real Estate Investment Trust.
Council president Bram Strain says the government would get no return on its investment and some other big business investors would get little or no return, keeping the cost of new housing down."This is about taking care of our province, our citizens of our province … it's to help people."This report by The Canadian Press was first published Oct. 8, 2024
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