NMF RENTAL HOUSING FUND II

NMF Rental Housing Fund II provides capital to preserve and expand permanent affordable rental housing across Canada by financing the development of new community-owned rental housing and enabling the acquisition of existing rental properties for long-term non-profit ownership.

PORTFOLIO

INVESTMENT

520 Rue d’Auvergne and 525 rue du Roussillon, Longueuil, QC

Société locative d’investissement et de développement social (SOLIDES)

520 rue d’Auvergne and 525 rue du Roussillon are two adjacent three-storey buildings in the Montreal neighborhood of Longueuil, with a total of 60 affordable units. As of 2025, the average unit is affordable to households earning 36% of the area’s median income.

The acquisition of 520 rue d’Auvergne and 525 rue du Roussillon is the result of a multi-stakeholder collaboration between SOLIDES, First National Financial LP, NMF Rental Housing Fund II, CMHC MLI Select program, and federal funding.

INVESTMENT

450 33e Avenue, Lachine, QC

Société locative d’investissement et de développement social (SOLIDES)

450 33e Avenue is a four-storey building in the Montreal neighbourhood of Lachine, with 47 affordable units. As of 2025, the average unit is affordable to households earning 48% of the area’s median income.

The acquisition of 450 33e Avenue is the result of a multi-stakeholder collaboration between SOLIDES, First National Financial LP, NMF Rental Housing Fund II, the City of Montreal, CMHC through the MLI Select program, and federal funding.

iNVESTMENT

Drummondville Portfolio, Drummondville QC.

Société locative d’investissement et de développement social (SOLIDES)

The Drummondville Portfolio comprises of 363 residential units and 42 commercial units. As of 2025, the average residential unit is affordable to households earning 37% of the area’s median income.

The acquisition of the Drummondville Portfolio is the result of a multi-stakeholder collaboration between SOLIDES, the Caisse d’économie solidaire Desjardins, NMF Rental Housing Fund II, the Lucie and André Chagnon Foundation, CMHC through the MLI Select program, and federal funding.

INVESTMENT

Domaine la Rousselière, Montréal, QC

Corporation Mainbourg

Domaine la Rousselière is a 720-unit multi-residential complex consisting of eight ninety-unit buildings in the Montreal neighbourhood of Pointe-aux-Trembles. As of 2025, the average unit is affordable to households earning 41% of the area’s median income.

The acquisition of Domaine la Rousselière is the result of a multi-stakeholder collaboration between Corporation Mainbourg, the Caisse d’économie solidaire Desjardins, NMF Rental Housing Fund II, the Lucie and André Chagnon Foundation, the Province of Québec through the Fonds fiscalisés, the City of Montreal, CMHC through the MLI Select program, and federal funding.

INVESTMENT

379 and 388 Hargrave Street, Winnipeg, MB

New Commons Housing Trust Society

The Hargrave Street property features a 72-unit heritage flatiron building. As of 2025, the average unit is affordable to households earning 40% of the area’s median income.

The acquisition of the Hargrave site is the result of a multi-stakeholder collaboration between New Commons Housing Trust Society, First National Financial LP, NMF Rental Housing Fund II, CMHC through the MLI Select program, and federal funding.

INVESTMENT

272-280 Caroline Street South, Hamilton, ON

272 Caroline St S. Co-operative

272-280 Caroline Street South comprises a total of 21 units. As of 2025, the average unit is affordable to households earning 33% of the area’s median income.

The acquisition of the Caroline Street properties resulted from a multi-stakeholder collaboration involving the 272 Caroline St S. Co-op, FirstOntario Credit Union, NMF Rental Housing Fund II, the City of Hamilton, CMHC through the MLI Select program, and federal funding.

INVESTMENT

182 Jameson Avenue, Toronto, ON

New Commons Housing Trust Society
182 Jameson Avenue is an 82-unit apartment building in the Parkdale neighbourhood of Toronto. As of 2025, the average unit is affordable to households earning 46% of the area’s median income.
The acquisition of 182 Jameson Avenue is the result of a multi-stakeholder collaboration between New Commons Housing Trust Society, NMF Rental Housing Fund II, the City of Toronto through the Multi-Unit Residential Acquisition program (MURA), FirstOntario Credit Union, and CMHC through the MLI Select program.
INVESTMENT

440 Edmonton Street, Winnipeg, MB

University of Winnipeg Community Renewal Corp 2.0 & Manitoba Housing and Renewal Corporation

440 Edmonton Street will provide approximately 150 units of affordable housing in downtown Winnipeg. This project is a redevelopment, converting a long-term care facility into rental housing. Stabilization is expected in 2027 and rents are projected to be affordable to households earning 32% of the area’s median income. 

The redevelopment of this property resulted from a multi-stakeholder collaboration involving the University of Winnipeg Community Renewal Corp 2.0, NMF Rental Housing Fund II, the Manitoba Housing and Renewal Corporation, and City of Winnipeg funding.

INVESTMENT

100 Tyndall Ave, Toronto, ON

Good Shepherd Non-Profit Homes

100 Tyndall Ave. provides 48 units of affordable housing in Toronto. Residents of this building have access to additional tenant support, including health and social services, case management, and housing stability services. The average rent in 2026 is affordable to households earning 57% of the area’s median income. 

This preservation acquisition resulted from a multi-stakeholder collaboration involving Good Shepherd Non-Profit Homes, NMF Rental Housing Fund II, and City of Toronto funding through the MURA program.

INVESTMENT

Fort & Simcoe, Victoria, BC

New Commons Housing Trust Society

Fort & Simcoe provides 53 units of affordable housing in Victoria. The average rent in 2026 is affordable to households earning 62% of the area’s median income. 

This preservation acquisition resulted from a multi-stakeholder collaboration involving New Commons Housing Trust Society, NMF Rental Housing Fund II, and federal funding.

INVESTMENT

UTILE Polytechnique, Montreal, QC

Unité de travail pour l’implantation de logement étudiant (UTILE)

UTILE Polytechnique will provide 149 affordable housing units in Montreal and will prioritize student tenants. This development is currently in construction, with stabilization expected by 2028. Rents are projected to be affordable, on average, to households earning 66% of the area’s median income. 

This development resulted from a multi-stakeholder collaboration involving Unité de travail pour l’implantation de logement étudiant (UTILE), NMF Rental Housing Fund II, and the City of Montreal’s funding. 

INVESTMENT

120 Reuben Crescent, Kemptville, ON

Reuben Cresent Housing Co-op and New Commons Housing Trust Society

120 Reuben Crescent will provide 109 units of affordable housing in Kemptville. This development is currently in construction, with stabilization expected in 2028. Rents are projected to be affordable on average to households earning 75% of the area’s median income. 

This development resulted from a multi-stakeholder collaboration involving Reuben Crescent Housing Co-op, New Commons Housing Trust Society, NMF Rental Housing Fund II, and government funding.

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