Case Studies
The unique people, properties, and communities behind the Fund's acquisitions to date
Provincial Overview
Behind the statistics, KPIs, and balance sheets that support the Fund's decision making, these are the people and social outcomes that make these properties unique and deserving of protection. This narrative-driven page puts the Fund's acquisitions in context, telling the story of the properties acquired to date and the residents who live there. Scroll through the page below to learn about the Fund's recent acquisitions and how the Community Housing Sector intends to leverage these buildings for greater societal good.
3940 Pender Street
Burnaby
The community housing sector plays a pivotal role in providing, developing, and managing social support and affordable housing in British Columbia, often integrating the two to provide wraparound services to vulnerable members of society. Aunt Leah’s Foundation is an example of this approach, providing critical housing and transitional support for young mothers and youth aging out of the foster care system. The 3940 Pender Street property plays an important role in furthering this mandate, enabling the organization to acquire and add much-needed housing stock and options to their portfolio for their participants, while protecting affordable housing for existing and new tenants
The 41-unit building is located along the busy Hastings commercial corridor and offers rents 59% below local market rates in Burnaby. Aunt Leah’s innovative affordability strategy sees the first 8 studio/1-bedroom suites that turnover rented to the organization’s program participants at shelter rate ($500/month).
This acquisition highlights the inherent benefit of placing at-risk rental stock in the hands of the community housing sector, allowing them to leverage these assets to support and empower vulnerable and equity-deserving communities.
Total units: 41 Secured Affordability: Average 59% below market rents Acquisition Date: March 2024 Rental Protection Fund Capital Contribution: $188,741/unit Renewal Grant: $18,730/unit
Casa Mia
7268 Balmoral Street, Burnaby
Casa Mia, meaning my “my home” in Italian, is a deeply affordable, 56-unit rental building with average rental rates less than half the local market rate in Burnaby. Now under the stewardship of Brightside, these rents will remain affordable for the future.
The property was acquired in advance of the City of Burnaby formalizing a new Edmonds Community Plan, securing it from future redevelopment and growth driven rent increases. Casa Mia is also a short 10-minute walk from Edmonds Skytrain Station and close to parks and urban trails.
It means a great deal for Brightside to be able to protect the affordability of these homes, and to ensure rents remain affordable for the long term.
Brightside Community Homes Foundation has provided affordable housing to diverse communities for 70 years, including seniors, families, and individuals with disabilities and will continue this legacy as units become available in the Casa Mia building. As Brightside got to know the tenants, they were met with profound relief and gratitude from residents who feared displacement from their community – Casa Mia will remain “my home” for residents for decades to come.
Total units: 56 Secured Affordability: Average 56% below market rents Acquisition Date: February 2024 Rental Protection Fund Capital Contribution: $211,771/unit Renewal Grant: $15,178/unit
Moody Park Apartments
New Westminster
New Hope’s acquisition protects the affordable rents of 11 more households, providing them with affordable rent and a sense of security in their homes. With rents at well below market rates—averaging 39% lower—New Hope is dedicated to maintaining the long-term affordability of these homes for current and future residents.
The building is centrally located in New Westminster, near schools, grocery stores, and public transit, with Moody Park nearby. This welcoming environment perfectly aligns with New Hope’s mission to support refugee families as they settle into their new lives in Canada. As units become available, New Hope will open its doors to newcomers, providing access to community resources, along with a secure and stable place to call home.
New Hope plans to undertake several renovations to improve the space. This includes converting some large one-bedroom units into two-bedroom suites to accommodate larger families and renovating common areas to create central gathering spaces. These areas will soon host a variety of programs—such as community dinners, language tutoring, movie nights, and tenancy expectation training—fostering a new sense of community among residents who may have had to leave their previous homes behind.
Established in 2004, New Hope provides community connections and affordable housing to refugee families who have recently arrived, creating a stable foundation as they adjust to life in Canada. Their mission revolves around fostering a supportive environment that facilitates integration and independence through comprehensive community support and tenant education. They prioritize families with children, addressing their unique needs and challenges to ensure they thrive in their new home.
New Hope has long dreamed of securing additional affordable housing for newcomer refugee families, and with the support of the Rental Protection Fund, this dream is now a reality. Refugee families are a marginalized and underserved population in the housing sector who will benefit immensely from the provision of homes dedicated to their settlement and integration into Canadian life. Without housing, newcomer refugees move from instability to instability. Once stable affordable housing is secured, they can begin to rebuild their lives anew while contributing their unique skills and gifts to the community at large. We are profoundly grateful for the Fund’s support.
Total units: 11 Secured Affordability: Average 39% below market rents Acquisition Date: September 2024 Rental Protection Fund Capital Contribution: $182,295/unit Renewal Grant: $9,824/unit Applicant Equity: $30,000
Parkwood Gardens
8357 10th Avenue; 8350 & 8353 11 Ave, Burnaby
Burnaby is facing a severe shortage of childcare and affordable rental housing. The City has the second highest rental prices in Canada, and, in the southeast Highgate/Edmonds neighborhood, the fewest childcare spaces per capita in Burnaby.
The 79-unit Parkwood Gardens apartment tackles both these critical needs, renting about half market rates and hosting a 25-space childcare facility serving the broader community. The building is family-oriented with large units, including 75 rare, three-bedroom homes, 200 meters from the local elementary school.
The Parkwood Gardens property is also a strategic acquisition, adjacent to 1.5 acres of vacant city-owned land, and is well-positioned to deliver more affordable housing in the future.
Parkwood Gardens is one of several properties that were previously owned by REITs and have now moved into the community housing sector with the support of the Rental Protection Fund.
Catalyst is thrilled to be operating more homes in Burnaby. This acquisition of 79 homes by a non-profit was impossible without the collaboration of the new Rental Protection Fund and an accommodating vendor that shared our objective of ensuring Parkwood Gardens remains affordable to its current community members.
Total units: 79 Secured Affordability: Average 51% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $201,145/unit Renewal Grant: $18,987/unit
Packard and Garden Court Housing Co-Ops
2860 & 2865 Packard Avenue, Coquitlam
The Rental Protection Fund’s first acquisition allowed the Community Land Trust of B.C. to intervene in the protection of two at-risk co-operative housing buildings — Packard and Garden Court— securing 290 deeply affordable homes in Coquitlam.
The co-ops had existed for over four decades, over which time the residents had developed a close-knit community of seniors, local workers, and families. Nearly half of the co-ops’ households earned yearly incomes of less than $50,000, and about a quarter make less than $30,000.
The co-ops’ tenants faced mass eviction with the expiration of the property’s land lease, and the landowner submitting a court-petition for vacant possession with the intent of listing the properties for sale. With average rents in Coquitlam twice those in the co-ops, residents were at risk of both displacement from their homes and being priced out of the Coquitlam community entirely.
This acquisition ensures stability and provides critical capital renewal funding to retain the housing co-operatives for decades to come. The building will be maintained as co-op housing, with rents capped at 30% of a resident’s income, and the Community Land Trust will prioritize seniors and low-income renters to fill any vacancies.
We can finally have peace, knowing our homes are safe and secure for years to come.
Total units: 290 Secured Affordability: Average 55% below market rents Acquisition Date: February 2024 Rental Protection Fund Capital Contribution: Up to $224,000/unit Renewal Grant: Up to $22,000/unit 3 rd Party Investment: $5.8 million (City of Coquitlam) Co-operative Equity: $2,500,000 Applicant Equity: $962,986
Brookside Gardens
20834 Dewdney Trunk Road, Maple Ridge
As the only purpose-built rental townhomes in Maple Ridge, the acquisition of Brookside Gardens represented an opportunity to protect rare, family-oriented homes in a growing community. All the units are large 3-bedroom homes with fenced yards, which are ideally suited for families with children and multi-generational households.
Renting at less than $1900 per month on average, these homes offer long-term affordability in a place that families can call home.
I was pleased that Connective has purchased this complex. The staff that I have met have been friendly and helpful. It is nice to know Connective has made a commitment to keep their homes affordable, with everything going up in price it is sometimes hard to afford everything.
Connective will keep these units affordable for existing tenants by capping rent increases below allowable RTA amounts and rents for new tenants will remain well below market rates for the community.
Connective has over 90 years' experience as a steward of affordable housing in BC and the Yukon. With more than 1000 units under ownership and management, this organization draws on deep experience in the sector, well-refined growth and management policies, and an economy of scale that allows them to keep administrative and maintenance costs low. As a result, Connective did not require a Capital Renewal grant, and Brookside Gardens can support itself financially for its lifetime.
Total units: 44 Secured Affordability: Average 46% below market rents Acquisition Date: June 2024 Rental Protection Fund Capital Contribution: $202,447/unit Renewal Grant: None
The Brighton & Claymore
5374 203 Street & 5375 204 Street, Langley
Langley is one of the fastest growing communities in British Columbia, and this trend will likely continue once the Surrey-Langley SkyTrain is completed. The Brighton and Claymore apartments are within a 10-minute walk of the future Langley City Centre SkyTrain terminus station.
When the properties were listed for sale in late 2023, they attracted considerable interest from developers looking to turn them into strata condos. This redevelopment would have led to the displacement of 108 households and the permanent loss of affordable rental housing options in Langley.
Despite facing competition from local developers with higher offers, New Vista’s proposal, supported by the Rental Protection Fund, was ultimately selected by the landowner due to its emphasis on preserving existing, long-term tenancies and affordable rents.
Last night was the first full night I slept, knowing that these guys are coming, and we were gonna be taken care of. My heart rate has gone back to normal, and I’m so happy to live here.
The New Vista Society is a non-profit charitable organization established in 1943, that provides affordable housing and care for low-income seniors across the Province. The organization has committed to preserving the building’s current affordable rents for its tenants and may look to explore lowering rents over time for its program participants and those on fixed incomes.
New Vista’s ownership of the buildings is already making a positive impact by securing the affordability of these homes from the rapidly rising rents in the community. When The Brighton and Claymore were first transferred into non-profit ownership rents were 35% lower than the market, that gap has since widened to 40%.
Total units: 108 Secured Affordability: Average 40% below market rents Acquisition Date: March 2024 Rental Protection Fund Capital Contribution: $209,000/unit Renewal Grant: $12,044/unit Applicant Equity: $157,824
8820 Cartier Street
Vancouver
8820 Cartier Street is the first acquisition through the Fund in the City of Vancouver, securing 24 units of rental housing at rents approximately 62% below local market rates. The acquisition will provide affordable housing relief to middle-income renters and families who may not qualify for government programs, but increasingly struggle to find affordable rental housing.
This property fills a critical gap in the housing continuum, allowing individuals and families who may currently be living in supportive housing but no longer rely on these supports to access safe and secure housing at rents they can afford. This creates a positive ripple effect by freeing up supportive housing spaces, allowing people to move off the streets into homes with the services and support they need.
Since 1971, Lookout Housing and Health Society’s mission has been to be “a social safety net” providing a range of housing, health, and support services that promote improved wellbeing for those in need. Lookout was one of Vancouver’s first non-profit mixed rental building service providers and now offers a wide range of supports in communities across the Lower Mainland and Vancouver Island.
The support received from the Rental Protection Fund to preserve affordable housing is critical for non-profit organizations like Lookout Housing and Health Society. These investments help address the need for the full continuum of housing in communities like Vancouver, where it's needed most.
Total units: 24 Secured Affordability: Average 62% below market rents Acquisition Date: June 2024 Rental Protection Fund Capital Contribution: $222,000/unit Renewal Grant: $10,000/unit Applicant Equity: $40,000
Ocean View Apartments
165 6th Street West, North Vancouver
As of April 2024, North Vancouver has become Canada's most expensive city to rent, surpassing the City of Vancouver. The average cost of a two-bedroom unit in North Vancouver is now more than $3,600 a month, making it challenging for residents to find housing they can afford.
Rents in Ocean View Apartments are less than half of North Vancouver’s prevailing market rates, making the building deeply affordable. This building has been home to some residents for decades, with the longest tenancy spanning nearly 50 years.
There are 35 units here and there are many families here, and I’m sure they are all very happy to see they’ve got a little bit of protection so they can continue to stay here instead of being forced out to look for somewhere else.
Acquiring the North Vancouver building is an opportunity for Hiy̓ám̓ ta Sḵwx̱wú7mesh Housing Society (Hiy̓ám̓ Housing) to safeguard existing rental housing and offer equitable and affordable homes for Squamish Nation People, through the support of the Rental Protection Fund and Squamish Nation.
This acquisition will support Hiy̓ám̓’s mandate to provide equitable and affordable housing for Squamish Nation People, with a goal of housing every Squamish Nation person within a generation.
Hiy̓ám̓ Housing intends to maintain building rents at their current affordable levels with only adjustments for inflation, and Squamish Nation People from Hiy̓ám̓’s current waitlist will have priority to fill future vacancies.
Total units: 35 Secured Affordability: Average 53% below market rents Acquisition Date: March 2024 Rental Protection Fund Capital Contribution: $245,891/unit Renewal Grant: $22,680/unit 3 rd Party Investment: $500,000 (Squamish Nation)
Tantalus Manor
1098 Wilson Crescent, Squamish
The Rental Protection Fund’s first joint application comes from Housing Squamish and Hiy̓ám̓ Housing, who are partnering to acquire Tantalus Manor, a 40-unit building in Squamish—one of the municipalities most affected by British Columbia’s housing crisis.
Currently housing seniors, families, and essential workers, the building has rents up to 70% below local market rates and is one of the few properties in Squamish’s limited purpose-built rental apartment market that remain affordable.
Based on the potential to redevelop the property and raise rents, Tantalus Manor was put up for sale in 2018, but residents rallied in support of the building.
My biggest concern is where do we go?
With many of the other properties in the neighbourhood being redeveloped, it came to the attention of Housing Squamish, a non-profit founded by the District of Squamish that works to catalyze housing solutions within the District.
The property acquisition protects the building’s tenants from displacement and will create housing opportunities for Squamish Nation People as Hiy̓ám̓ Housing’s waitlist will be prioritized to fill future vacancies. Housing Squamish has pledged to maintain the building’s affordability while extending its lifespan, and the property will be undergoing energy efficiency upgrades.
Hiy̓ám̓ Housing and Housing Squamish have developed a Partnership Protocol based on shared values and principles, which was the foundation for this acquisition. Their joint application to the Rental Protection Fund represents a new and unique approach, designed to allow smaller organizations access to the Fund, in partnership with other community housing providers, building capacity in the community housing sector.
Total units: 40 Secured Affordability: Average 64% below market rents Acquisition Date: July 2024 Rental Protection Fund Capital Contribution: $128,750/unit Renewal Grant: $27,000/unit
Sunrise Gardens
3806 24th Avenue, Vernon
Much of what constitutes today’s naturally occurring affordable rental housing stock was built during the apartment construction boom of the 1960s-1970s. Many decades later, these properties are rapidly aging and are often in critical condition as a consequence of disinvestment and years of deferred maintenance.
By supporting renewal and retrofits, the Rental Protection Fund not only prevents the loss of affordable rental stock but also lowers the non-profit's operating expenses at a fraction of the cost of building new.
Sunrise Gardens is an example of this at-risk housing, requiring intervention and capital renewal to preserve 26 deeply affordable units renting 45% below the market rate in Vernon. Canadian Mental Health Association Vernon and District Branch will lead a comprehensive capital renewal project to restore the building envelope and other building components in order to extend the life of the property and preserve its affordability for the future.
I'm quite happy, it sounds like they are going to make quite a bit of improvements and changes.
Total units: 26 Secured Affordability: Average 45% below market rents Acquisition Date: March 2024 Rental Protection Fund Capital Contribution: $3128,232/unit Renewal Grant: $47,730/unit Applicant Equity: $40,000
860 Carrie Street
Esquimalt
The Rental Protection Fund is committed to the advancement of Indigenous and Indigenous-led housing providers to secure affordable and culturally appropriate housing for Indigenous people in British Columbia. Across both urban and rural areas, 20% of B.C.’s Indigenous residents are in core housing need and are disproportionately represented in the province’s homeless and at-risk population.
860 Carrie Street is a 16-unit apartment in Esquimalt acquired through the Rental Protection Fund by Lu’ma Native Housing Society. Lu’ma is an Indigenous-led housing organization with over 35 years of experience providing safe and affordable for Indigenous, by Indigenous housing.
The building had been listed for sale since early 2023, with the listing emphasizing the potential for increased rental income through tenant turnover and renovations. This raised concerns about renoviction and redevelopment risks for the current residents. A local paper, Victoria News, highlighted these risks with an article titled “ Victoria-area property a ‘goldmine’ if you just kick out the tenants. ”
Lu’ma has committed to maintaining existing affordable rents and prioritizing Indigenous applicants for vacant units. By acquiring the building, Lu’ma not only safeguards current tenants but also lays the groundwork to expand critical Indigenous-led housing assets as the building approaches the end of its useful life.
At Lu’ma, we envision a future where Indigenous people thrive through self-determination and are connected to their communities and traditions, and we look forward to implementing this service delivery model in Esquimalt.
Total units: 16 Secured Affordability: Average 24% below market rents Acquisition Date: February 2024 Rental Protection Fund Capital Contribution: $173,880/unit Renewal Grant: $15,625/unit
430 Michigan Street & 1500 Chambers Street
Victoria
These properties came to the attention of the Greater Victoria Housing Society when the Michigan Street complex was listed for sale, prompting concerns among residents about the continued affordability of the building. Rents in both buildings are significantly below Victoria’s rising market rates, and GVHS is committed to maintaining these affordable rents even as tenancies change, with only inflation adjustments.
I couldn't be happier with the positive changes since GVHS took ownership of our building. I finally feel secure in my long-term living arrangements.
GVHS will not only preserve the affordability of these buildings but is also making them more sustainable, by upgrading existing low-efficiency boilers. These upgrades will make the buildings more energy efficient, and reduce greenhouse gas emissions, ensuring that the buildings can be sustainably operated into the future.
GVHS has been involved in non-profit housing for over 65 years, providing nearly 1,000 safe and secure units to seniors, families, people with disabilities, newcomers, and others who face barriers to housing across Greater Victoria.
Total units: 68 Secured Affordability: Average 37% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $168,301/unit Renewal Grant: $18,309/unit
Moilliet Manor
211 Moilliet Street, Parksville
This Parksville fixture stands as a beacon of stability amidst a changing landscape. The 50-unit apartment building, constructed in 1976, caters specifically to seniors—a vital demographic in Parksville, where residents over 65 make up 46% of the population. Despite Parksville having the highest concentration of seniors per capita in Canada, there is still an acute lack of affordable housing options.
Moilliet Manor fosters a strong sense of community, with more than half of its residents over the age of 75. Many have called the building home for decades.
The acquisition of Moilliet Manor represents a significant victory for the community housing sector. Rents will be maintained at their current level for existing residents — 45% below market value — ensuring long-term stability for tenants on limited incomes. The new non-profit owner, Ballenas Housing Society, also plans to upgrade the building with more senior-friendly features to aid mobility. These improvements will help tenants remain independent longer and enhance their quality of life, allowing them to stay in their homes and community for years to come.
Given the recent development in the area, there was a real risk of losing this haven for low-to-moderate income seniors. The intervention by the Rental Protection Fund and Ballenas ensures the continued availability of this essential housing option, fostering stability and community in the heart of Parksville.
[This] will enhance the lives of our tenants with security and peace of mind in our advancing years.
Total units: 50 Secured Affordability: Average 45% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $110,000/unit Renewal Grant: $30,000/unit Applicant Equity: $15,792
Connective Island Rentals
This acquisition presents a unique opportunity to tackle Vancouver Island's housing crisis, comprising nine buildings and 334 units in total. This collective effort addresses the pressing need for long-term affordable housing in underserved communities across the Island.
The portfolio includes a range of units, catering to various household sizes, including families with 40% of units featuring two or more bedrooms. Across the buildings, existing affordable rents will be maintained under the stewardship of Connective Support Society, providing rent stability in three smaller communities on Vancouver Island.
I have had the great fortune and a feeling of freedom from worrying that a contractor will come along, buy our community, and tear it down to build unaffordable housing for the average person. I am so grateful to live under the umbrella of Connective!
Connective Support Society has operated in B.C. and the Yukon for over 90 years and will oversee the responsible management of these units, providing operational efficiency and sustainability.
Most of these properties are strategically located in close proximity to local schools, recreational centres, hospitals, and a variety of downtown amenities, ensuring residents have easy access to essential services and a vibrant community life.
This strategic acquisition secures 334 units of long-term affordable housing, a crucial step in addressing Vancouver Island's housing crisis. The acquisition of the Vancouver Island Portfolio leaves a lasting and positive impact, offering peace of mind not only for current residents but also for future generations in Campbell River, Port Hardy, Duncan and beyond.
Campbell River Total units: 153 (5 buildings) Secured Affordability: Average 46% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $80,278/unit Renewal Grant: $8,825/unit
Port Hardy Total units: 125 (3 buildings) Secured Affordability: Average 20% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $63,009/unit Renewal Grant: $5,470/unit
Duncan Total units: 56 (1 building) Secured Affordability: Average 34% below market rents Acquisition Date: May 2024 Rental Protection Fund Capital Contribution: $96,168/unit Renewal Grant: $11,364/unit
