Acquisitions for Affordable Housing: Creating non-market supply and preserving affordability

Canada has long suffered a crisis in affordable housing, particularly affecting renters. Tenants experience high levels of housing need compared to owners, and marginalized populations are disproportionately impacted. The loss of existing affordable rental housing has contributed to this crisis, driven by the financialization of rental housing and public sector withdrawal from social housing provision since the 1990s.

This report explores acquisition programs as one part of the solution to Canada’s affordable housing crisis, drawing on current research, interviews with stakeholders, and the examination of our database of 107 programs. Our definition of an acquisition program is one that supports the purchase of existing multi-family rental housing to preserve its affordability or transform it into affordable housing. Typically, this involves funding (from government and other sources) to enable the acquisition of privately-owned buildings by non-market owners, such as nonprofits, land trusts, co-ops, charities, or governments.

Also Read: Green and Resilient Affordable Housing Sector Project