February 2,2026
RED FM News Desk
British Columbia’s Rental Protection Fund has exceeded its original target by protecting nearly 2,200 rental homes, helping thousands of residents remain in affordable housing within their communities.
Launched in 2023 with a $500-million provincial investment, the fund partners with non-profit housing providers to purchase rental buildings at risk of being sold to the private market. Its initial goal was to secure 2,000 homes over three years — a milestone reached ahead of schedule.
Recent acquisitions include 40 homes in Vancouver’s Grandview-Woodlands neighbourhood, purchased by New Chelsea Society, and 37 homes in White Rock acquired by More Than a Roof Housing Society. Many of the units house long-term tenants, seniors and local workers, with rents significantly below market rates.
Provincial officials say preserving existing affordable housing is a key part of B.C.’s broader $19-billion housing strategy, aimed at preventing displacement and strengthening communities while new housing continues to be built.
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