3H PROPERTIES NEWS
Read the recap of our fireside chat with Iman Novin, Founder of Novin Development, focusing on the multifamily development sector in California, and Patricia Roset-Zuppa, Vice-President Policy at the Canada Mortgage and Housing Corporation (CMHC). The discussion focused on the preservation and construction of affordable housing in both the U.S. and Canada, with themes including government affordable housing programs, the need for larger ecosystems involving public, private, and not for profit players, and creative financing methods.
We know housing preservation offers a less expensive, faster, and more lightly regulated opportunity to maintain housing affordability. Watch and listen to affordable housing experts Iman Novin, Principal of Novin Development and Patricia Roset-Zuppa, Vice-President, Policy Development at Canada Mortgage and Housing Corporation as they deep dive into preservation. We share best practices, comparing past, present, and future preservation strategies, and discuss financial mechanisms to encourage preservation.
Listen to CEO and Founder Alfredo Hermano as he discusses making the numbers work building affordable housing, how he crowdfunded $500,000 among 2000 investors to build 97 units and how investing for good is having an impact both socially and for investors.
Preservation in Affordable Housing - Recap, March 16, 2022: Article
This article reflects on our insightful conversation with Jonathan F.P. Rose and his valuable discussion with us on preservation in affordable housing. The conversation was timely, with affordable housing becoming less attainable, gas prices and inflation skyrocketing, budgets are being stretched. It is essential that alongside building new affordable housing, we also implement preservation policies. Without both, we are further away from achieving Canada’s goal that everyone has a home that they can afford and that meets their needs by 2030. Read the recap of our conversation.
Watch our March 16th, 2022 fireside chat with Jonathan F.P. Rose, President of Jonathan Rose Companies, Alfredo Hermano, CEO and Founding Partner of 3H Properties and Praveen Varshney,
Co-Founder, Advisor and Investor of 3H Properties, as they share why preserving affordable housing plays a critical role in solving the housing crisis.
Could crowdfunding help solve Hamilton’s housing crisis? 3H raises over $340K in one week
3H Properties CEO and Founder Alfredo Hermano gives a compelling guest lecture to the students of the University of Toronto's Architecture 4500 Class: Architecture as an Entrepreneurial Practice. Joined by faculty members and renowned architects, Lorne Gertner and Steven Fong, this lecture address Ethical Entrepreneurship in Affordable Housing and answers the key question: can we build affordable housing to be profitable?
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Nearly one in three Canadians rents their home. Rental prices are skyrocketing, leading to the same kinds of bidding wars and disappointments that home buyers are facing. The Fifth Estate examines what’s driving rental prices up and some people out of their homes.
“There is someone waiting on a list for affordable housing in more than 283,000 households across the country, Statistics Canada says in a new batch of data that also sheds light on what Canadians think about the cost of housing overall.”
"Across the country, 40 per cent of renters spend more than 30 per cent of their household income on the cost of rent and utilities, the level at which many say housing costs become unaffordable. About 20 per cent spent more than half their income, which housing advocates say puts them at high risk of becoming homeless."
"A person aged 16 to 54 waiting for a one-bedroom unit in St. Catharines or Welland is looking at a 16-year wait; that same person would wait 18 years in Niagara Falls, 13 years in Thorold, 12 in Port Colborne, 10 in Lincoln, and seven in Fort Erie."
Over half a million Canadian households are living in social and affordable housing
Survey of persons living with housing problems, showing data for housing-vulnerable populations and need, that includes affordability and suitability
Wait list status including length of time, by tenure including social and affordable housing
CMHC Incentive Links
Low-cost loans encouraging the construction of sustainable rental apartment projects across Canada.
Long term, low-interest loans for the construction and revitalization of affordable housing
Interest-free loans and/or non-repayable contributions to develop and preserve affordable housing.
Financial assistance to help housing providers complete preservation activities related to the sustainability of existing community housing projects.
The Challenge will award $300 million in funding over five years.
The Affordable Housing Innovation Fund is a $200 million fund that will be instrumental in creating the next generation of housing in Canada.
Private REITs in Canada