Frequently asked questions - with answers - about CIRES
Our goal is to offer affordable, accessible business space that complements your goals for the property, and will help you discover how your building’s commercial space can work better for you and for tenants. When looking at a new space we ask the question, “how can we continue to have community value in this space and achieve benefits for the whole neighbourhood?” We’ll answer that question for ourselves, and for you.
The first step is to contact our office to arrange a telephone or personal meeting to review your commercial space needs, your community goals, and to review the available space in our portfolio.
CIRES is incorporated as a non-profit society in the province of British Columbia, we are accountable to our community stakeholders, represented by our Board of Directors. Our surpluses are re-invested in creating opportunities for low-income residents in the communities where we work.
It depends on two key factors: 1) the availability and location of the space and 2) the use of the property to meet our mission and goals. See Tenant Selection Criteria.
On our website, you can see the available units. Please contact us if you have an interest in a site or if you want to meet with us to discuss your commercial property needs. We can assess with you if there is a match. We are also proactive in finding tenants that will meet community needs.
To be able to meet our goals, CIRES has a blended portfolio, which overtime is weighted towards maintaining a balance of both non-market and market-rate tenants. The space, its location, ownership, product or service, and community benefits are all considered in the leasing process.
Every tenant pays non-negotiable “additional rent” that includes common area maintenance, property taxes and management fees. Base rent rates are negotiable as CIRES' purpose is to manage the commercial portfolio in a way that creates community benefits and financial sustainability. CIRES is in a position to offer below-market rates to tenants generating significant community economic and social value.
Tenant improvements are negotiable. While each lease is unique, CIRES is prepared to invest in tenant improvements for long-term leaseholders, as appropriate and to facilitate meeting our goals.
Yes, all tenants have a social benefit covenant tailored to their business model and purpose. They report annually to us as part of an aggregated annual social impact report that CIRES prepares for their landlords.
Community Impact Real Estate Society is a non-profit society incorporated in the Province of British Columbia. Any and all income raised beyond our expenses and sustainability is re-invested in supporting our goals of contributing to achieving our targeted economic, employment and social goals.
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