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Manitoba government to put up $10 million for new housing investment trust

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Housing News

Manitoba Government,Canada,Politics

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 Manitoba government is putting up $10 million for a new fund aimed at getting more affordable housing units on the market.

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.For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

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 giving back, so it’s not about what’s in it for the business,” Strain said Tuesday.‘I couldn’t believe it’: Friends in shock after Ontario man 1 of 3 victims in killing spreeManitoba announces $1.

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