Building homes to strengthen communities
Canada’s rental housing crisis
Urban and rural communities across Canada are struggling with the negative impacts of low vacancy rates and high rents. One in five Canadian renters are unable to afford basic living expenses because they spend more than half their income on shelter. The number of homeless people is rising.
Affordable housing helps individuals and families by leaving them more money in their budgets for food, transportation, education and children’s activities. It also helps communities, by improving public health and contributing to economic growth. Anhart Homes works closely with local towns and cities to develop affordable housing that meets their needs and helps them thrive.
Anhart’s plan
Anhart Homes is a privately owned and operated community contribution company that develops affordable rental housing projects. Profits from these projects will be designated to Anhart Community Housing, a privately funded charity focused on preventing homelessness, to subsidize rents and support programs. Anhart Homes has a goal of building 20,000 homes across Canada by 2030.
Financing
We have received funding for Anhart’s affordable housing initiative from the following sources:
low-interest mortgages from Vancouver City Savings and Credit Union
seed financing from VanCity Community Foundation
private social impact loans and secured investments
seed funding and construction financing from Canada Mortgage and Housing Corporation
- low-interest mortgages from Vancouver City Savings and Credit Union
- Seed financing from VanCity Community Foundation
- Private social impact loans and secured investments
- seed funding and construction financing from Canada Mortgage and Housing Corporation
Anhart’s goal is to scale all four of these financing methods in order to provide Canada with a model for a privately developed national housing strategy. Anhart and its subsidiaries are incorporated in three Canadian provinces and plan to incorporate in the remaining provinces and territories before 2025.
Housing in development
Anhart Homes owns the following properties, where we are developing new projects:
- Anhart Village Main: we have submitted an application to the City of Vancouver for a development permit for a six-storey, 70-unit microsuite building on this vacant lot.
- Anhart Village Hope: this is a collection of five properties on Scott Drive and Ryder Street that are already zoned for multi-family development, for a potential total of 130 affordable homes. The Ryder, 40 units of affordable housing, is in construction and expected to be complete in spring 2020.
- Anhart Village Merritt: we are exploring plans for this vacant two-acre property at 3757 De Wolf Way, which is currently zoned for 70 units.