In January 2023, the Province of BC announced a $500 million fund to help protect affordable rental stock.
The Rental Protection Fund was designed to enable non-profit housing operators to acquire existing rental buildings and preserve their affordability. Non-profit societies and non-profit housing co-ops would be eligible to access the Fund which is jointly administered by BC Non-Profit Housing Association, the Aboriginal Housing Management Association and the Co-operative Housing Federation of BC.
This may represent a new source of support for creating or expanding non-profit co-op homes, but will will not eliminate the need for significant applicant capacity and resources.