$1.5 Billion Canada Rental Protection Fund Launches to Preserve Affordable Housing Across Canada

Canadian Housing Acquisition Fund opens applications to support community housing providers in acquiring existing affordable rental housing and protecting its affordability for the long term.

OTTAWA, ON, Sept. 22, 2026 /CNW/ -- For the first time in Canada, the community housing sector is leading a pan-Canadian investment fund to protect affordable rental housing and expand community ownership. Today, the Canadian Housing Acquisition Fund (CHAF), alongside the Honourable Gregor Robertson, Minister of Housing and Infrastructure, and Build Canada Homes (BCH), announced CHAF as the recipient selected to make investment decisions using funding available through the $1.5-billion Canada Rental Protection Fund (CRPF), following an open call for applications.

Created for the community housing sector, and as one of the first initiatives under Build Canada Homes, the CRPF gives non-profit, co-operative and Indigenous housing providers access to the capital they need to acquire existing rental properties and keep them affordable for the long term. Over its first five years, the Fund has the potential to protect 7,000 affordable rental homes across Canada, aligned with market conditions and opportunities. This will help more renters remain securely housed in the communities they call home.

"Every Canadian deserves a place to call home. That is why our new government is taking decisive action to protect affordable rental housing through the Canada Rental Protection Fund, helping preserve affordable homes and ensuring more Canadians can remain in their communities."  The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

The launch represents a significant shift in how Canada invests in affordable housing. Through CHAF, the community housing sector is helping shape investment decisions, bringing together sector expertise with real estate, lending and investment capacity to make decisions about where capital can have the greatest impact.

"This is about more than protecting the affordability we have today, it's about growing the community housing sector for the future," said Ray Sullivan, CHAF Board Chair. "Every home acquired becomes part of Canada's community housing stock for the long term, creating lasting affordability and a stronger foundation for communities across the country."

Across the country, affordable rental homes are being lost to redevelopment, rising rents and increasingly competitive housing markets. While new construction remains essential, protecting the affordable housing that already exists is one of the fastest ways to prevent further losses and provide housing stability immediately.

Through the CRPF, CHAF will invest in eligible acquisitions brought forward by community housing providers across Canada. Funding can include a combination of repayable and forgivable loans to help bridge the gap between what an organization can sustainably finance, and the capital required to acquire and renew a property.

Built by the sector, for the sector

CHAF was established by leaders from across Canada's community housing sector to build the national capacity needed to deploy acquisition capital at scale.

Its founding members, the Canadian Housing and Renewal Association (CHRA), National Indigenous Collaborative Housing Inc. (NICHI), Co-operative Housing Federation of Canada (CHF Canada), and BC Rental Protection Fund (BCRPF), bring together leadership from the non-profit, co-operative and Indigenous housing sectors with direct experience in housing acquisition.

Building on that foundation, CHAF's Board includes leaders from across Canada with expertise in real estate, finance and investment. This broader governance model brings together community housing leadership and cross-sector expertise to provide strong national oversight and help shape CHAF's long-term strategy.

"This is what the community housing sector advocated for: a sector-led fund that combines expertise and capital to create lasting affordability," said Julie Favreau, Interim CEO of CHAF. "The CRPF creates a ripple effect; building equity, strengthening financial independence and giving the sector the tools to grow affordability across Canada." 

The CRPF also builds on the experience of acquisition programs already demonstrating the impact of this approach. In British Columbia, the BC Rental Protection Fund has helped protect nearly 2,200 affordable rental homes, demonstrating the potential of community-led acquisition to protect affordability at scale.

The CRPF now brings that approach, tailored to fit communities across Canada.

Applications are now open

With today's launch, CHAF has opened its first stage of intake to access CRPF funding.

Eligible community housing providers can now apply to become pre-qualified through CHAF, demonstrating the organizational capacity and readiness required to pursue acquisitions.

CHAF is working with the Community Housing Transformation Centre to review organizational pre-qualification applications. Once pre-qualified, organizations can bring forward eligible properties for investment consideration through regular intake cycles starting in October 2026.

Properties selected to advance will proceed through detailed due diligence and financing review, with final investment decisions made by CHAF's independent Investment Committee.

Links

Learn more about CRPF eligibility

Read CHAF's Investment Approach

Read more about Build Canada Homes

About the Canadian Housing Acquisition Fund

The Canadian Housing Acquisition Fund (CHAF) is an independent, community housing sector-led non-profit investment organization created to expand community ownership of affordable rental housing across Canada.

CHAF brings together leaders from the non-profit, co-operative and Indigenous housing sectors with expertise in real estate, finance, lending and social impact investment to acquire and protect affordable rental housing at scale.

CHAF's founding members are the Canadian Housing and Renewal Association, National Indigenous Collaborative Housing Inc., Co-operative Housing Federation of Canada, and BC Rental Protection Fund.

Canada Rental Protection Fund funding is provided by Build Canada Homes and the Government of Canada.

SOURCE Canadian Housing Acquisition Fund (CHAF)

Media contact: Alice Marcoux, coordinator TACT, [e-mail], 438-871-3708