Rental Protection Fund CEO Katie Maslechko calls loss of affordable rentals a province-wide problem
The North Okanagan community of Vernon becomes the first community outside of the Lower Mainland and Greater Victoria to receive support through a fund protecting existing rental housing.
“While we build more affordable housing, it’s important to recognize that we can’t continue to lose affordable housing,” Kahlon said. “Nothing is scarier, when you are living in affordable housing, to see a for-sale sign on the front-lawn and wonder what’s going to happen when this building gets sold. ‘Are we going to be evicted? Where are we going to go to?’”
The $500-million fund launched last year, providing one-time capital grants to non-profit housing organizations for the purchase of affordable residential rental buildings and co-operatives, when they come up for sale. Katie Maslechko, CEO of the Rental Protection Fund, said Tuesday’s announcement is the first of many announcements involving the fund beyond B.C.’s major population centres in Greater Vancouver and Greater Victoria.
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