Marleny Ozuna Felix appears to have struck housing luck akin to winning a lottery jackpot. Residing in Burnaby, B.C., the single mother of three enjoys the security of affordable housing in her one-bedroom apartment, paying a mere $964 per month. This rate stands significantly lower than the average rent for similar units in the area, providing her with stable accommodation. The assurance of controlled rent increases, in line with provincial guidelines, adds to the peace of mind for Felix.
When faced with the possibility of her building being sold to a profit-driven landlord, Felix found a surprising savior in Aunt Leah’s Properties. This not-for-profit entity, dedicated to maintaining accessible rent and safeguarding Canada’s affordable housing supply, acquired the building through a provincial program grant with aligned objectives.
Felix expressed her relief, stating that eviction would leave her and her children homeless, as affordable alternatives in the neighborhood or elsewhere are financially out of reach. Her situation resonates with many renters nationwide grappling with soaring rent prices and the looming threat of displacement to accommodate higher rental rates or new developments.
The narrative extends beyond Felix’s personal struggle, highlighting the potential of her building as a blueprint for addressing Canada’s affordable housing crisis. While some advocate for increased housing construction as the solution, others argue that government support and non-profit initiatives can play a crucial role in preserving existing affordable housing inventory.
In the 1990s, the government shifted away from subsidized housing towards private sector dominance. Consequently, private landlords assumed a prominent role in new developments, often facing criticism for the lack of affordable housing options while governmental intervention receded. Currently, non-profits own a fraction of community housing in Canada, with community housing contributing about 12% of the total rental housing stock.
However, a shift is evident in British Columbia, particularly with the introduction of the B.C. Rental Protection Fund in 2023. This initiative aims to invest $500 million in assisting not-for-profits in purchasing occupied buildings, emphasizing the value of preserving existing affordable housing units over constructing new ones.
Not-for-profits can access one-time capital grants from the fund to aid in building acquisitions, ensuring rent stability for tenants post-purchase. This model prevents drastic rent hikes upon turnover, offering a sustainable solution for middle-income renters who often do not qualify for subsidized housing. The success of these initiatives in B.C. underscores the potential impact of similar programs across the country in preserving affordable rental units.
Despite differing opinions on the best approach to tackling the housing crisis, the emphasis on conserving existing affordable housing through government support and non-profit involvement appears promising. The debate between preservation versus new construction continues, reflecting the complexities of addressing the diverse housing needs of Canadians while striving to maintain affordability and accessibility in housing markets.
