Welcome to Affordable Holdings & Associates
Affordable Holdings is a socially responsible business that provides affordable rental housing, develops properties, and land banks, for the benefit of our tenants, investors, the local community, and our business. We focus on recognizing the potential of properties that other real estate investors overlook. We are based in Victoria and our properties are located across Southern Vancouver Island. Most of our acquisitions have been older buildings, often with legally non-conforming uses, or ones with small acreages on the fringes of urban containment boundaries. More recently we have expanded into other niche markets that complement our overall social conscience vision.
The old properties that we acquire are then updated to a sufficient level to provide safe and sound accommodation to the needs of young, lower income, or disadvantaged tenants. Many of these tenants cannot afford rental housing in the larger urban centres, some may be on social assistance, while others just prefer to be more rural. The more modern properties we have acquired or have now developed, are targeted at the highest and best use for those properties, subject to ensuring we do not price our tenants out of the market. We take pride in our track record of providing excellent value housing.
Rents are typically below market rates. Consequently the tenants tend to stay longer term and our low vacancy rates clearly reflect the value we provide. This low turnover of tenants enables us to keep rents affordable and develop good relationships with our tenants. At the same time our business is provided a reasonable monthly return on capital, and also benefits from the long term increase in real estate values. This is a win/win situation for both tenant and landlord.
Over the long term, we will make enough of a return on the capital appreciation to make these investments rewarding. The key success factors in our success are that we are very good at identifying suitable properties, we are fair to our tenants, and patient with our investments.
We have also branched out into another niche market of affordable and safe student housing.
Another recent initiative is to work with the Canadian Mental Health Association to provide suitable housing for clients that are at the final stage of transitioning into regular housing. Our pilot project is located at Lake Cowichan on a serene acreage on the banks of the Cowichan River.
We have recently developed a project in Cobble Hill using Canada Housing & Mortgage Corporation's assistance to add five subsidized affordable rental housing units. The demand for these units has been tremendous, and we are now exploring how we can expand the number of subsidized units to help address the shortage of units available in the Cowichan Valley.
From time to time Affordable Holdings opens its doors to private investors. Our Circle of Life investment program focusses on the need for seniors and retirees to have reliable monthly cash flow that enables them to stay ahead of the cost of living curve. There is also a Joint Venture Investment program. Various investment options are available to satisfy the needs of most investors. We are particularly proud of the safe and better performing alternatives that we can provide to seniors in these challenging times.
Our Circle of Life value proposition is aimed at satisfying the need for affordable rental housing for young, low income earners, and the disadvantaged, while at the same time providing seniors/retirees with reliable and superior returns on investment. We like to refer to this as our Circle of Life value proposition because the young and elderly jointly benefit from the unique needs of each group. We are great believers in helping people help themselves. In the process, Affordable Holdings and our Joint Venture Investors benefit through participating in the positive monthly cash flow and the longer term appreciation of the real estate assets. It truly is a win/win for our tenants, investors, the local community, and our business. Together we can make a difference.......
The old properties that we acquire are then updated to a sufficient level to provide safe and sound accommodation to the needs of young, lower income, or disadvantaged tenants. Many of these tenants cannot afford rental housing in the larger urban centres, some may be on social assistance, while others just prefer to be more rural. The more modern properties we have acquired or have now developed, are targeted at the highest and best use for those properties, subject to ensuring we do not price our tenants out of the market. We take pride in our track record of providing excellent value housing.
Rents are typically below market rates. Consequently the tenants tend to stay longer term and our low vacancy rates clearly reflect the value we provide. This low turnover of tenants enables us to keep rents affordable and develop good relationships with our tenants. At the same time our business is provided a reasonable monthly return on capital, and also benefits from the long term increase in real estate values. This is a win/win situation for both tenant and landlord.
Over the long term, we will make enough of a return on the capital appreciation to make these investments rewarding. The key success factors in our success are that we are very good at identifying suitable properties, we are fair to our tenants, and patient with our investments.
We have also branched out into another niche market of affordable and safe student housing.
Another recent initiative is to work with the Canadian Mental Health Association to provide suitable housing for clients that are at the final stage of transitioning into regular housing. Our pilot project is located at Lake Cowichan on a serene acreage on the banks of the Cowichan River.
We have recently developed a project in Cobble Hill using Canada Housing & Mortgage Corporation's assistance to add five subsidized affordable rental housing units. The demand for these units has been tremendous, and we are now exploring how we can expand the number of subsidized units to help address the shortage of units available in the Cowichan Valley.
From time to time Affordable Holdings opens its doors to private investors. Our Circle of Life investment program focusses on the need for seniors and retirees to have reliable monthly cash flow that enables them to stay ahead of the cost of living curve. There is also a Joint Venture Investment program. Various investment options are available to satisfy the needs of most investors. We are particularly proud of the safe and better performing alternatives that we can provide to seniors in these challenging times.
Our Circle of Life value proposition is aimed at satisfying the need for affordable rental housing for young, low income earners, and the disadvantaged, while at the same time providing seniors/retirees with reliable and superior returns on investment. We like to refer to this as our Circle of Life value proposition because the young and elderly jointly benefit from the unique needs of each group. We are great believers in helping people help themselves. In the process, Affordable Holdings and our Joint Venture Investors benefit through participating in the positive monthly cash flow and the longer term appreciation of the real estate assets. It truly is a win/win for our tenants, investors, the local community, and our business. Together we can make a difference.......
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