Impact Support Services
Designed to help tenants fulfill their social benefit covenant and provide reporting on their impact.
SBC’s ensure “community impact” is a part of their business, service, or organization.
CIRES was founded on the mandate to curate a blended commercial property portfolio to bring social and economic benefits to low-income residents of the inner city. During the leasing process, CIRES works with our tenants to enshrine a Social Benefit Covenant (SBC) as part of their sublease agreements. The social and economic benefits generated from SBCs lift the broader community and businesses that our tenants operate in through three main categories: local procurement, local employment, and the provision of community-focused goods and services.
- Total financial impact from tenant SBCs which include food, employment, legal services and more.
- $
- Financial impact from market tenants to the local community through implementation of SBCs
- $
To support the implementation, sustainability, and reporting of these SBCs, CIRES has created the Impact Support Services (ISS). This service is designed to help tenants to fulfill their SBCs and to provide reporting of the positive social impact the CIRES portfolio has had within the City of Vancouver.
As of March 31, 2023, a total of 32 out of 49 Sublease Agreements contain with SBCs or 65.31%. The tenants have developed Social benefits that include food programs and donations, holiday meals, community events, utilizing local suppliers, services and hiring employees from the neighbourhood.
We are deeply committed to creating a more inclusive, supportive, and thriving community. Our approach not only enriches the lives of low-income residents but also uplifts the entire community.
SBCs impact on community
- Local residents received employment training or support from tenants this year
- Local businesses or social enterprises provided goods and services to tenants
- Of tenants identify their social benefits as supporting local employment initiatives
- %
- Of tenants source their goods and services from local business and social enterprise
- %
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