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Between Our Goal and How It Works
RAILYARD HOUSING COOPERATIVE, VANCOUVER
“HIC provided vital take-out financing for Vancouver’s newest co-op. The innovative financing tools HIC has made available will help Community Land Trust, and our sector, better meet the pressing need for affordable housing in communities across Canada.”
– Tiffany Duzita, Director, Community Land Trust Foundation
Under ‘a proven model':
In addition, HIC closed its first round of borrowing in February 2019. Focused on take-out financing, the round was valued at approximately $33M for projects in British Columbia (Railyard Housing Cooperative) and Alberta (Parkdale Housing Development Project).
After Future Funding Rounds:
PARKDALE HOUSING DEVELOPMENT PROJECT, EDMONTON, AB
“HIC’s unique solution was instrumental in helping Capital Region Housing and the Province of Alberta finalize agreements to secure the financing we needed to expand our portfolio.
We are proud to be part of HIC's first round, and excited about the opportunities it offers housing providers across Canada – direct access to the capital markets and low-cost, long-term financing to build and regenerate affordable housing stock.”
– Greg Dewling, CEO, Capital Region Housing