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 in B.C.’s Interior to receive support through a fund protecting existing rental housing.
The Canadian Mental Health Association Vernon and District Branch had applied for the funding. It will own and operate the building. Each of the units will also receive $47,000 from the fund for upgrade. “The reality is that the erosion of affordable housing isn’t just an urban issue and the Rental Protection Fund isn’t just for big cities, either,” Maslechko said. “It’s for every community, big and small.”RELATED: Sparing displacement: Indigenous housing society buys Esquimalt apartmentMaslechko, however, acknowledged that it is more difficult to find lenders outside the major urban areas.
Julia Payson, CMHA’s executive director, said her organization is excited to partner with rental protection fund.
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