Series - Editorial Fellowship: Social Finance in Canada Suncor Energy Foundation 2023/24

How an $18.6 million dollar fund helps community organizations beat speculators and own their own spaces

Author Diane Berard
Twenty partners, including public and private investors, philanthropic foundations, and labour funds, have joined forces to develop a suite of loan programs designed to help social purpose organizations beat rent inflation

Why It Matters

The real estate crisis is forcing community organizations to devote more and more of their funding to rent at a time when demand for their services is growing. Moving isnโ€™t an option for community-based organizations who need to be where their clientele is, but innovative social finance could provide solutions.

var TRINITY_TTS_WP_CONFIG = {"cleanText":"How an $18.6 million dollar fund helps community organizations beat speculators and own their own spaces. After a decade worrying about unpredictable rent increases and eviction, Plein Milieu is the proud owner of the building it once rented. The Montreal drop-in centre, located in the heart of Plateau Mont-Royal, bought the multi-story building nine months ago and says the acquisition will positively impact its finances, its staff and its clients. Employees from its five current locations will be consolidated at the newly purchased St. Denis building. \u201cWe are a drop-in centre for people who use drugs and a distribution centre for injection and inhalation equipment,\u201d says executive director Line St. Amour, adding the organization will now be ab

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