NEW MARKET FUNDS
AFFORDABLE RENTAL HOUSING FUNDS

ABOUT

From two funds, we invest in purpose-built, stabilized multi-family affordable rental housing and we also acquire for-profit apartments to preserve affordability via conversion to non-profit ownership. We do all this in partnership with strong, existing non-profit and co-operative operators. We draw on extensive development, operating and financing experience to structure investment opportunities that are customized to our investors’ needs, while also creating long-term community benefit. Our investments offer risk-adjusted, market-rate returns.

“Investors in the Meritas SRI Funds want competitive financial returns along with a positive social and environmental impact. Our investment in New Market Funds meets our Impact Investing criteria — it offers competitive risk-adjusted financial returns, along with a positive long-term impact on people and communities.”

Fred Pinto, CEO, Ocean Rock Investments Inc.

SELECTED INVESTORS

Our investors include community foundations, private foundations, other institutions, family offices and accredited individuals.

  • Alberta Real Estate Foundation
  • Alberta Social Enterprise Venture Fund LP
  • Bealight Foundation
  • British Columbia Housing Management Commission
  • Green Shield Canada
  • Hamilton Community Foundation
  • LesLois Shaw Foundation
  • McConnell Foundation
  • Michael Young Family Foundation
  • Mt. Lehman Credit Union
  • NEI Investments
  • Northpine Foundation
  • Ottawa Community Foundation
  • Real Estate Foundation of BC
  • Royal Bank of Canada
  • The Lawson Foundation
  • Tides Canada Foundation
  • Trico Foundation
  • Vancity Community Foundation
  • Vancouver City Savings Credit Union

Current portfolio

INVESTMENT

Madrona Housing

The Madrona Housing project in Victoria, BC consists of 49 affordable housing units for families, couples and individuals. The homes are affordable on average at 59% of median income.

INVESTMENT

The BRice

Sanford Housing Society, Vancouver, BC

The BRice is part of a four-site portfolio with the Vancouver Community Land Trust. This site provides 48 affordable housing units to residents with supportive health needs. The units are affordable on average at 44% of median income.

INVESTMENT

The BRice

Sanford Housing Society, Vancouver, BC

The BRice is part of a four-site portfolio with the Vancouver Community Land Trust. This site provides 48 affordable housing units to residents with supportive health needs. The units are affordable on average at 44% of median income.

INVESTMENT

Fraserview Housing
Co-operative

Community Land Trust, Vancouver, BC

Part of the four-site portfolio with the Vancouver Community Land Trust, these 90 townhouses and low-rise apartments will provide families with affordable housing on average at 79% of median income.

INVESTMENT

Fraserview Housing
Co-operative

Community Land Trust, Vancouver, BC

Part of the four-site portfolio with the Vancouver Community Land Trust, these 188 apartments will provide families and seniors with affordable housing on average at 55% of median income.

INVESTMENT

Fraserview Housing
Co-operative

Community Land Trust, Vancouver, BC

Part of the four-site portfolio with the Vancouver Community Land Trust, these 188 apartments will provide families and seniors with affordable housing on average at 55% of median income.

INVESTMENT

Tikva Housing Society

Community Land Trust, Vancouver, BC

Part of the four-site portfolio with the Vancouver Community Land Trust, these 32 townhouses will provide families with affordable housing on average at 60% of median income.

INVESTMENT

West Broadway Commons

University of Winnipeg Community Renewal Corp 2.0, Winnipeg, MB

The West Broadway Commons project in Winnipeg, MB will provide 119 affordable housing units for students with families, refugees, artists and Indigenous community members. The homes are affordable on average at 69% of median income.

INVESTMENT

West Broadway Commons

University of Winnipeg Community Renewal Corp 2.0, Winnipeg, MB

The West Broadway Commons project in Winnipeg, MB will provide 119 affordable housing units for students with families, refugees, artists and Indigenous community members. The homes are affordable on average at 69% of median income.

INVESTMENT

290 Colony

University of Winnipeg Community Renewal Corp 2.0, Winnipeg, MB

The 290 Colony project in Winnipeg, MB will provide 110 new rental units to students with families, refugees, Indigenous community members, single parents, individuals with disabilities and youth in extended care. The homes are affordable on average at 59% of median income.

Get in touch to learn more