Manitoba government will fund a new home investment trust with $10 million
“This is about giving back... to help people,” Strain said, emphasizing the focus on community well-being rather than profit.
The Manitoba government is launching a $10 million fund to boost affordable housing by creating an investment trust aimed at attracting private-sector investors.
The initiative will focus on building new housing or converting existing structures into affordable units. Non-profit organizations are expected to manage the housing projects and could also secure additional funding through other government programs.
Housing, Addictions, and Homelessness Minister Bernadette Smith announced that the initiative aims to begin with three housing projects within the first year.
The trust, called the Collaborative Housing Alliance Real Estate Investment Trust, is being developed by the Business Council of Manitoba.
Council President Bram Strain explained that the government, along with other major business investors, will receive little or no financial return, helping to keep housing costs low.
“This is about giving back... to help people,” Strain said, emphasizing the focus on community well-being rather than profit.
The long-term goal is to build or convert thousands of units, addressing the province’s housing crisis. The Assembly of Manitoba Chiefs (AMC) welcomed the announcement as a positive step in addressing housing shortages, especially for First Nations communities.
AMC Acting Grand Chief Betsy Kennedy highlighted that many Indigenous people, particularly youth and those who have been through the child welfare system, face significant barriers in urban centers, including a lack of affordable housing and rental history.
