Our government has launched the $1.5 billion Canada Rental Protection Fund to help community housing providers acquire and preserve rental properties at risk of losing their affordability.
The Fund has the potential to protect 7,000 at-risk rental homes in its first five years, with thousands more as funding is repaid and reinvested.
For renters, protecting an affordable home can mean being able to stay close to work, family and the services they rely on. Preserving these homes is an essential part of addressing housing affordability while we build more housing.
The Fund will support:
- Community ownership: Helping community housing providers purchase and renew existing rental properties.
- Long-term affordability: Protecting affordable rental homes so Canadians can continue living in their communities.
- Ongoing investment: Attracting additional funding from charitable organizations, private investors and governments, with repaid funds used to protect more homes.
Following an open application process, the Canadian Housing Acquisition Fund was selected to manage these investments, with oversight from Build Canada Homes.
Eligible community housing providers can now begin the organizational pre-qualification process through the Canadian Housing Acquisition Fund’s online intake portal.
Protecting the affordable homes we already have, alongside building new ones, will help more Canadians find and keep a place to call home.
