Five of Canada's largest publicly traded residential REITs have banded together to form ForAffordable.ca. an initiative that will promote viable ways to generate more affordable housing supply where it is needed in Canada.
The new initiative, formed late last month, includes Canadian Apartment Properties REIT (CAPREIT), Boardwalk REIT, Killam Apartment REIT, InterRent REIT and Minto Apartment REIT.
"Canada is experiencing the worst crisis of housing affordability and supply in a generation. Put simply, there just haven't been enough new homes built to match the country's population growth," said Mark Kenney, CEO of CAPREIT, in a statement.
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