Manitoba·NewA real estate trust aimed at increasing affordable housing in Manitoba is helping close funding gaps for two projects that will deliver 48 transitional units after receiving a $7-million investment from the private sector.Business Council of Manitoba trust aimed at expanding housing gets $7M from True North, Winnipeg charityCBC News · Posted: Oct 07, 2025 2:26 PM EDT | Last Updated: 4 minutes agoPaul Mahon, chair of the Collaborative Housing Alliance Real Estate Investment Trust, says the real estate trust will help construction projects close funding gaps to build affordable housing units. (Trevor Brine/CBC)A real estate trust aimed at increasing affordable housing in Manitoba is helping close funding gaps for two projects that will deliver 48 transitional units after receiving a $7-million investment from the private sector.The Collaborative Housing Alliance Real Estate Investment Trust — developed by the Business Council of Manitoba — was instituted last October with $10 million in funding from the provincial government.A year after the trust was created, it received what it calls its first major private investment — $5 million from True North Sports & Entertainment, the company that owns the Winnipeg Jets, and $2 million from Paul and Anne Mahon through the Mahon Family Foundation, a registered Winnipeg charity.The trust works to attract private-sector investors and help close gaps in funding for affordable housing, whether new builds or refurbished existing buildings, said Paul Mahon, who’s also chair of the Collaborative Housing Alliance.”It’s that last mile that’s critical,” he told reporters at a news conference on Tuesday. “The private sector is a critically important partner.”The trust is in the process of formalizing commitments for two projects that will create 48 transitional units, the news release said. One of the projects is a new building, while the other is the renovation of an unused building.Funding for those projects comes mainly from the Canada Mortgage and Housing Corporation and other fundraising, Mahon said.No specifics on the location of either project were provided, but Mahon said while the trust is part of a Manitoba-wide initiative, a significant chunk of its efforts will be in Winnipeg, where housing needs are deep. “We’ll be focused in areas where we can actually situate housing, where we can get the right supports in place,” he said.
Investment trust helps close funding gaps for 2 projects building 48 transitional housing units
