New $500M rental protection fund officially launches in B.C.
A new fund will be able to leverage more than $500 million to protect rental housing in British Columbia, according to the premier.
The fund grants non-profit organizations one-time contributions to help them purchase existing, occupied rental buildings to prevent their re-development. “Now more than ever, the most affordable housing we’ll ever have is the affordable housing we’ve already got – and now we have a sector-led solution to keep those homes affordable over the long term without the need for ongoing operating subsidies,” she added.
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