Researching solutions to community acquisition of deeply affordable housing

This research examines municipal programs across North America that support community acquisition of deeply affordable housing. Affordable housing stock is declining in urban centres—British Columbia lost nearly 100,000 units renting below $1,000 per month between 2016 and 2021. Deeply affordable rental buildings that are critical housing for vulnerable groups like Vancouver’s Single Room Occupancy buildings, are being lost to development and gentrification.

Project scope and expected outcomes

Community Acquisition of Affordable Housing

Community housing ensures affordability, helping marginalized groups who face barriers to traditional property ownership. Yet affordable housing stock is declining in urban centres. British Columbia lost nearly 100,000 units renting below $1,000 per month from 2016 to 2021. And high property values driven by speculation make acquisitions difficult for nonprofits, especially for deeply affordable housing.

This project focuses on tools communities can use to acquire deeply affordable, mid-size (40-80 units) residential properties like single room occupancy housing.

Programs to acquire more community housing

This research project will identify best practices and policy recommendations for all levels of government, including eligibility criteria, funding amounts and sources. Through document analysis, key interviews and financial modeling, researchers will explore how acquisition programs can support community housing in Vancouver and other municipalities across Canada.

The project will use 4 phases:

• Phase 1: Conduct an environmental scan to examine programs and policies that governments have used to support acquiring community property.
• Phase 2: Analyze relevant policy and program documents to identify the key mechanisms, restrictions and qualifications that define each program or policy. 
• Phase 3: Financial modeling to evaluate different funding scenarios for their potential to balance affordability, sustainability and scalability. 
• Phase 4: Prepare a broad set of deliverables to effectively communicate findings and recommendations to various audiences.

The project team will work closely with the Tenant and Elders' Advisory Committee throughout each phase.

Building more knowledge

This work will strengthen the community housing sector by identifying funding solutions to address high acquisition costs in urban areas. It will benefit communities at risk of homelessness. The analysis will help protect deeply affordable housing for those on income assistance in Vancouver’s Downtown Eastside neighbourhood.

This research will inform government policy recommendations for community acquisition of mid-size, deeply affordable buildings.

Key deliverables of the project will be:

• A report detailing potential acquisition programs, including funding sources, eligibility requirements and success metrics.
• A briefing note for policymakers.
• A slide presentation reporting the research findings. A webinar or series of targeted meetings describing the research results and how they can be used to introduce similar programs in other cities.