IMFG Perspectives paper explores greater private participation in affordable housing

The Institute on Municipal Finance and Governance (IMFG) has released a new paper that explores how to mobilize more private investment for affordable housing in Ontario. The paper proposes that new investment is needed to meet the demand for additional affordable housing and to refurbish the existing stock. With limited scope for large new government funding commitments, it is critical to create the conditions for private sector investment.

Part of IMFG’s new Perspectives series, the paper was co-authored by André Côté of IMFG and Howard Tam of the ThinkFresh Group. It discusses four potential pathways to increasing private participation in affordable housing:

1. Levers to make affordable rental and ownership models work including tax credits or inclusionary housing models.
2. Investment vehicles for the social housing sector such as real estate investment trusts (REITs) or social finance instruments.
3. Incentives to maintain private rental supply like expedited property tax equalization or enhanced financing for repairs and retrofits.
4. Creating the conditions for private participation by building on the success of public-private partnership (P3) models.

The paper’s release is coming ahead of a public forum on April 16^th at the University of Toronto on Mobilizing Private Investment in Affordable Housing: Lessons from the United States. The event will feature a keynote address from Doris Koo, senior advisor and former president and CEO of Enterprise Community Partners. Enterprise is a leading U.S. provider of the development capital and expertise it takes to create decent, affordable homes and thriving communities.

Access the paper Affordable Housing in Ontario: Mobilizing Private Capital in an Era of Public Constraint here.

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