Preserving affordable rental homes and increasing housing supply are essential to ensuring Canadians can continue to live in the communities they call home.
Today, Minister Robertson announced the launch of the $1.5 billion Canada Rental Protection Fund, which will help community housing providers acquire and preserve at-risk rental properties so they remain affordable over the long term.
Following an open call for applications, the Canadian Housing Acquisition Fund has been selected to deploy investments from the Fund. It will also help attract additional funding from charitable organizations, private investors, and governments, with repaid funds reinvested to protect more affordable homes.
The investment has the potential to protect 7,000 at-risk rental homes over the Fund’s first five years, with thousands more as capital is reinvested.
By protecting existing affordable housing while continuing to increase housing supply, Build Canada Homes is taking a more complete and coordinated approach to addressing housing affordability in Canada.
Key Messages
Every Canadian deserves a place to call home. The Canada Rental Protection Fund will help protect affordable rental housing so more Canadians can remain in the communities they call home.
The $1.5 billion Canada Rental Protection Fund will help community housing providers acquire and preserve affordable rental properties that are at risk.
The Fund has the potential to protect 7,000 at-risk rental homes in its first five years, with thousands more as capital is reinvested.
By bringing in additional investment from charitable organizations, private investors, and governments, federal funding can go further and protect more affordable homes across Canada.
Protecting existing affordable housing while increasing housing supply is part of a more complete and coordinated approach to addressing housing affordability in Canada.
Through Build Canada Homes, we are investing in housing while strengthening Canadian supply chains, creating good jobs, and supporting a stronger Canadian economy.
