The Manitoba government says it will continue to subsidize rent for seniors living at Winnipeg’s Lions Place.
Housing Minister Bernadette Smith confirmed to CTV News a new deal has been reached with Calgary-based Main Street Equity, which purchased the Portage Avenue housing complex in 2023.
“It means the folks in that building will be able to stay there for the next three years,” Smith said Friday. “They’re very happy; we’re very happy.”
A provincial spokesperson said the new deal will cost $3.315 million over the next three years to keep rental rates affordable for residents at Lions Place. The spokesperson said an existing deal signed in 2023 was set to expire.
Lions Place had previously been in an agreement with the province under a program that helps operators with mortgages and other costs. In exchange, the operators are required to keep rents low, often by gearing rent to a tenant’s income.
However, that agreement expired, and the complex’s former non-profit owner sold the building to Main Street Equity in 2018.
The complex’s sale sparked protests and outrage from residents and seniors’ advocates.
Smith said there the provincial government is working to pass legislation to protect non-profit and other affordable housing options.
“We’re focused on maintaining our social and affordable housing that we have, building more social and affordable housing, and then, of course, supporting non-profit housing.”
