Tuesday March 1, 2022, Territories of Musqueam, Squamish and Tsleil-Waututh Nations/Vancouver B.C.

The Vancity Affordable Housing Accelerator Fund is a revolving loan pool that provides nimble, flexible, low-cost financing to not-for-profits undertaking affordable housing development projects during the acquisition, pre-development, and pre-construction phases.

It also offers individual and institutional social impact investors an opportunity to invest in local, community-owned affordable housing projects while earning a fair return.

Together with community housing developers, partners and investors, the Fund works to meet housing needs in in the Coast Salish and Kwakwaka’wakw territories, across Metro Vancouver, the Fraser Valley, Southern Vancouver Island, Squamish, and Alert Bay.

One of the housing projects that the Vancity Affordable Housing Accelerator Fund has helped support is Aspen. Aspen received $500,000 in financing through VAHAF, and with this initial funding, Vancity was able to secure additional partnerships which allowed the project to evolve into a 145-unit affordable housing project in one of Vancouver’s most vibrant neighborhoods of Mount Pleasant.

For more info on Aspen, please check out this article from the National Housing Strategy: https://www.placetocallhome.ca/en/stories/087-outside-the-box-thinking-results-in-affordable-housing

To learn more about the Vancity Affordable Housing Accelerator Fund, please go to: https://www.vahaf.ca/