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Building Affordable Housing in Canada

How Boardwalk supports Resident Members with flexible, affordable housing solutions across Canada.

Our Commitment to Affordable Housing

For over two decades, Boardwalk has worked to support affordable and flexible housing options across Canada. We believe that lasting affordability is achieved through a mix of community investment, thoughtful policy, and strong partnerships. Our goal is to provide safe, accessible, and inclusive rental homes for individuals and families at every stage of life.

Since 1999, we’ve offered internal programs and supports to help Resident Members facing financial challenges. This includes working one-on-one with individuals to find solutions that provide stability and flexibility when needed.

Did you know that more than 90% of our Calgary and Edmonton communities meet the affordability standard set by the Canada Mortgage and Housing Corporation (CMHC)?

How We Support Affordable Housing

We take a multi-layered approach to affordability, combining direct support for Resident Members with strong partnerships and community initiatives.

Direct Support Programs

  • Internal affordability measures: We’ve voluntarily implemented programs that offer flexibility for Resident Members in good standing who experience financial hardship.

  • Affordable housing communities: We offer affordable housing options at Spruce Ridge Gardens in Calgary and Peak Estates in Canmore, ensuring safe and accessible homes for those who need them most.

Community Support Initiatives

  • Hospital support suites: We’ve dedicated select suites to hospital patients and families in need of temporary accommodations near medical facilities.

  • Emergency and newcomer support: In times of crisis, we’ve acted quickly to provide stable housing—such as supporting those displaced by the Jasper wildfires and welcoming families and individuals arriving from Ukraine.

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Our Partners

WORKING TOGETHER FOR GREATER IMPACT

We collaborate with trusted community and social housing partners to help expand access to affordable housing and provide critical support to vulnerable populations.

RENT CONTROL AND AFFORDABILITY

Boardwalk supports approaches that focus on growing and maintaining a strong supply of affordable housing across Canada.

Some of the most affordable rental markets in the country are found in provinces without rent control measures, such as Alberta and Saskatchewan. While rent control is often introduced to stabilize costs, research in Canada and internationally shows that it does not always achieve lasting affordability on its own1. Over time, ensuring a healthy supply of rental homes plays a critical role in keeping housing affordable for everyone.

CMHC’s 2025 research highlights that rent control can help existing Residents manage costs, but it can also be associated with trade-offs such as fewer available homes, reduced mobility, and slower growth in supply2. Their research also found no significant rent premium for REIT-owned properties compared to similar non-REIT homes once factors like location are considered3.

 

Average Monthly Rent4: Two-Bedroom Apartments

Province / City Average Rent
Lloydminster, AB $1,256
Edmonton, AB $1,759
Calgary, AB $2,081
Saskatoon, SK $1,540
Regina, SK $1,574
Toronto, ON $2,946
Vancouver, BC $3,489

These differences highlight how increased housing supply can support greater affordability over time. Provinces with rent control, such as Ontario and British Columbia, also have some of the highest average rents in the country.

What Research Shows About Rent Control: Potential Trade-Offs

🏠 Fewer Homes Over Time – If developers build less, supply doesn’t keep up with demand.

🚪 Less Movement – Residents often stay longer to keep lower rents, meaning fewer homes open up for others.

💰 Higher Prices Elsewhere – Suites not under rent control can see sharper rent increases.

📉 Lower Investment – Developers may choose not to build new rental housing.

Four Pillars to Address Affordable Housing

Four_Pillars

1. Less Regulation  |  2. Less Taxation  |  3. Less Cost of Capital  |  4. More Rent Supplements
Together, these four pillars help create the conditions needed to increase housing supply, support sustainable investment, and keep rental housing accessible for Resident Members. By streamlining regulations, encouraging reinvestment through smart tax policies, improving access to affordable financing, and providing targeted support where it’s needed most, we can work toward a balanced rental market that benefits everyone.

Source:   Multi-Unit Residential Building (MURB) Structure & Background - REALPAC

Case Study 1: Pines Edge, Regina – Effective Tax Policy

pine edge

Pines Edge is a strong example of how thoughtful tax policy can help create new rental housing supply.

The City of Regina provided a five-year property tax holiday to incentivize construction on this development. The project consists of three phases of a four-storey wood-frame building with underground parking, delivering a total of 79 apartment homes. By leveraging this incentive, Boardwalk completed the project under budget at approximately $170,000 per suite.

This case illustrates how effective public policy can support the creation of affordable housing.

 

Case Study 2: Spruce Ridge Gardens, Calgary – Government Rental Subsidy Grant

Spruce Ridge Gardens demonstrates how government partnerships can make affordable housing viable.

In 2012, Boardwalk partnered with the Province of Alberta to develop a new community on excess lands, supported by a provincial rental subsidy grant. This grant covered 65% of the cost of 54 of the 109 suites, including the land value. Construction was completed on time and within budget at approximately $175,000 per suite. For a period of 20 years, rents on the 54 affordable suites were set at 10% below CMHC’s average market rent.

This collaboration showcases how targeted subsidies and fixed-price construction can increase the supply of affordable homes.

 

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Working Together Toward Lasting Affordability

Building a balanced and affordable rental housing market requires collaboration across all levels — from housing providers and governments to communities themselves. By encouraging investment, supporting new supply, and providing targeted assistance where it’s needed most, we can create sustainable solutions that benefit everyone.

At Boardwalk, we’re proud to contribute to this collective effort through thoughtful programs, strategic partnerships, and advocacy for effective housing policies.

Read our full perspective on affordability and housing policy here.

 

 

[1] REALPAC rent control Backgrounder (http://www.realpac.ca/backgrounder-rentcontrol)
[2] CMHC Rent Control Report (https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2025/rent-control)
[3] CMHC REITs & Rents (https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/2025-reits-affordability).
[4] Per September 2025 rentals.ca national rent report