2009 and 2010

In 2009 the Real Estate Foundation's Board of Governors made a decision to no longer provide capital funding for housing, with some very specific exceptions.

Although the Real Estate Foundation understands affordable housing is a key issue throughout the province, when the world financial markets crashed in 2008, the Foundation lost the capacity to meet the multiple requests for large capital grants funding. The dollar value of housing grants the Foundation had been making in previous years was simply not sustainable due to the generally large dollar value of these grants. So, in 2009, the Board made a strategic decision to reduce these grants and focus on the core components of the Foundation's legislated mandate--research, education, and law reform--while at the same time encouraging new thinking around housing.

In the latter part of 2009 and 2010, the Board approved several housing grants under the following guidelines:

• If a housing project is unique – meaning it is a new approach to financing, partnerships, ownership, building technologies – it will be given consideration.
• Densification is also a priority – from an environmental footprint perspective as well as the ability to have Foundation funding support a greater number of people.

It was with purpose that the Foundation set the bar high for demonstrating uniqueness and innovation. The intent was to support projects which demonstrate a new approach to the issues of housing and could be replicated in other communities.

2011

During 2011 we are undertaking a review of the Foundation's funding criteria. This process will allow us to refine the criteria so the Real Estate Foundation's grants program is more focused and effective in fulfilling the organization's mandate. During this period, capital housing grants will remain a low priority for Foundation funding.

We will communicate the results of the review as soon as they are available, further clarifying the subject of grants for non-profit capital housing at that time. We will publish the complete, revised criteria in March 2012.