US Edition220 Homes Protected Across B.C. through Community Housing Sector Acquisitions
- On June 5, 2025, seven properties totaling 220 rental homes across B.C., including Penticton and Chilliwack, were acquired by non-profits through the Rental Protection Fund.
- The acquisitions resulted from the province's $500 million Rental Protection Fund launched in 2023 to secure affordable housing amidst rising costs and a global housing crisis.
- The province allocated $26 million through capital funding and renewal grants to non-profit organizations that acquired buildings, including a project in Penticton supported by local initiatives such as tax exemptions.
- Housing Minister Ravi Kahlon urged local governments to actively participate in efforts to preserve existing affordable housing and highlighted that rents under the fund are, on average, 44.2% lower than market rates.
- These acquisitions raise the total homes secured by the fund to nearly 1,600 and suggest progress toward surpassing the target of 2,000 protected units, ensuring long-term affordability.
21 Articles
21 Articles
Muskoka Region
220 Homes Protected Across B.C. through Community Housing Sector Acquisitions
PENTICTON, British Columbia, June 05, 2025 (GLOBE NEWSWIRE) -- Today, the Rental Protection Fund (the Fund) is proud to announce the acquisition of seven rental properties, securing 220 affordable homes across British Columbia—from Fort St. John to Vancouver. These acquisitions…
B.C. housing minister calls for more local support as fund secures 220 affordable homes : My Comox Valley Now
B.C. Housing Minister Ravi Kahlon was in Penticton on Thursday touting the progress of the province’s Rental Protection Fund. He announced seven new properties have been purchased by non-profits with the support of the fund, amounting to 220 homes. The fund was launched in 2023 with a $500-million investment from the province. It aims to preserve affordable housing by helping non-profits purchase rental buildings. The province says rents secured…
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