BC’s new Rental Protection Fund considering 25 property acquisitions

In November 2023, the provincial government created the Rental Protection Fund (RPFS) to consider proposals by experienced non-profit housing operators to acquire at-risk housing properties to maintain their use for existing residents at affordable rents for middle-income households. The RPFS has received over 70 applications and shortlisted 25 proposed housing acquisitions with a combined total of 1,363 units for over 3,000 residents, 78% of which are rental housing and 22% cooperative housing. The 25 proposed properties would use up 60% of the RPFS’s initial funding pool of $500 million, with an average fund contribution of $205