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ARTICLE · 19 JULY 2023

Social Purpose Real Estate Projects

Miller Thomson
Miller Thomson
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Miller Thomson

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Social purpose real estate development is an endeavor that seeks to address challenging and pressing issues such as affordability of suitable housing and access to rental space in communities across Canada.

CanadaReal Estate and Construction
Melissa Timbres
Melissa Timbres
Kristina L. Roberts
Kristina L. Roberts
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Social purpose real estate projects: The goals

Social purpose real estate development is an endeavor that seeks to address challenging and pressing issues such as affordability of suitable housing and access to rental space in communities across Canada. The goals of such social purpose real estate projects or programs are altruistic in nature and are ultimately geared towards attaining positive societal outcomes for the good of the communities in which they operate. To achieve such goals, the social purpose entity may purchase real estate for lease or re-sale to financially disadvantaged members of the community on certain affordable terms, or may lease or license premises through which community programs and services are delivered either by the social purpose entity itself or by a community partner or third party at affordable rental or licensing rates.

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