Central City Foundation, through President and CEO Jennifer Johnstone, is an active member of the Social Purpose Real Estate Table, a group of funders, investors and government representatives that engages in and has made investments in social purpose real estate.
This spring, the Social Purpose Real Estate Table (SPRE) will release the results of RENT‐LEASE‐OWN, a landmark research study, the first of its kind in Canada, to document the conditions in which the social purpose sector finds homes for its programs and services. The study seeks to document the rates, terms, and conditions through which the social purpose sector engages with the real estate market, and compare and contrast this situation with the broader commercial market in the area.
From October 2012 to February 2013, consultants surveyed Metro Vancouver’s social and cultural organizations and independent artists. Survey results are currently being analyzed and will be used to inform future policy development and make the case for supporting social purpose real estate in Metro Vancouver.
Study outcomes are anticipated to:
- Provide baseline data that can be added to in future years to provide a long‐term view of the changing nature of social purpose real estate
- Provide data to better understand the scale of the perceived crisis in social purpose real estate in Metro Vancouver
- Provide a comparison with commercial real estate conditions, and from that understand the challenges and opportunities for social purpose real estate
- Provide initial recommendations for improving the situation for social purpose real estate in Metro Vancouver
An iPad was offered as a prize to survey participants to help solicit participation. Approximately 600 respondents completed the survey. The prizewinner is singer and musician Laurel Murphy.
Photo: Presentation of the iPad prize to winning survey participant Laurel Murphy. From left: Jennifer Johnstone (SPRE), Mandy Hansen (REIBC), Laurel Murphy, Jacquie Gijssen (SPRE).