our Goal: helping you create more affordable housing
HPC Housing Investment Corporation (HI-C) seeks to address the barriers that affordable housing providers have faced in accessing fixed, long-term financing.
We enable providers to leverage their assets so they can meet the affordable housing needs in their communities. Our clients can take advantage of:
Fixed rate 30+ year loan
Housing knowledge
Financial expertise & assistance
Low-cost administration
Unlike other lenders, HIC delivers customer service tailored exclusively to affordable housing clients.
Edmonton's Civida (formerly Capital Region Housing) obtained $10M in financing with the HPC Housing Investment Corporation (HI-C). Zack Ramji, Civida's Chief Financial Officer, speaks to their experience and the value HI-C offers the community housing sector.
How It Works
We use the power of the group, the creditworthiness of Canada’s affordable housing sector and the market interest in HI-C bonds to obtain fixed, long-term financing.
A proven model
HI-C closed its first round of borrowing in February 2019. Focused on take-out financing, the round was valued at approximately $33M for projects in British Columbia (Railyard Housing Cooperative) and Alberta (Parkdale Housing Development Project).
Round 1 Projects
Community Land Trust (Railyard & Aaron Webster Housing Cooperatives)
Railyard Housing Cooperative, Vancouver
HI-C provided vital take-out financing for Vancouver’s newest co-op. The innovative financing tools HI-C has made available will help the Community Land Trust, and our sector, better meet the pressing need for affordable housing in communities across Canada.
Tiffany Duzita, Director, Community Land Trust Foundation
Civida
Parkdale One, Edmonton
HI-C’s unique solution was instrumental in helping Civida and the Province of Alberta finalize agreements to secure the financing we needed to expand our portfolio. We are proud to be part of HI-C’s first round, and excited by the opportunities it offers housing providers across Canada — direct access to the capital markets and low-cost, long-term financing to build and regenerate affordable housing stock.
— Greg Dewling, Former CEO, Civida (formerly Capital Region Housing)
Round 2 CONSTRUCTION LENDING PROGRAM
CIVIDA
Londonderry Mixed Use Redevelopment, Edmonton
We are invested in the success of our tenants and combined with $51.1 million in Government of Alberta funding, this innovative investment strategy partnership with the Housing Investment Corporation will help Edmontonians get better access to safe and affordable housing.
— Greg Dewling, Former CEO, Civida (formerly Capital Region Housing)
FUTURE FUNDING ROUNDS
HI-C is planning subsequent rounds of borrowing. If you are an affordable housing provider seeking new development, regeneration, renovation or acquisition financing, you are a candidate for future lending rounds. Get started by reviewing our evaluation criteria and contacting us!
“I think what you and your team have done with HI-C is fantastic. Anyone who has tried to source funding for social housing development will recognize that HIC is re-writing the book for all of us.”
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