From Financialpost · · 1m
Connective and Anthem Preserve 178 Affordable Homes
Connective and Anthem Properties secure 178 affordable rental homes in Burnaby under non-profit ownership.
In brief
Connective and Anthem Properties secure 178 affordable rental homes in Burnaby under non-profit ownership. Connective and Anthem Properties preserved 178 affordable rental homes in Burnaby through long-term non-profit ownership. Originally reported by Financialpost.
Preservation Deal
Connective and Anthem Properties preserve 178 affordable rental homes in Burnaby under long-term non-profit ownership.
Homes Secured
The transaction includes The Standard, a 92-unit rental building, and Nuvo, an 86-unit rental building where all homes are offered at rents 20 per cent below CMHC median market rent.
Full Tenancy
Both buildings are fully tenanted with strong demand from the outset.
Affordability Impact
The homes are offered at rents 20 per cent below CMHC median market rent, ensuring long-term affordability.
Partnership Strength
Connective provides long-term affordable housing expertise while Anthem offers development and delivery capabilities.
Portfolio Expansion
The acquisition expands Connective’s affordable housing portfolio to more than 725 homes and marks an important step in growth in Burnaby.
The key point
Connective and Anthem Properties preserved 178 affordable rental homes in Burnaby through long-term non-profit ownership.
