Wednesday, June 19, 2019
CIRES works with residents, local groups - like Exchange Inner City - the business improvement associations and others to assess gaps in the provision of goods and services to community members and chooses tenants based on this feedback. CIRES is proud to report that its portfolio has achieved a 92% occupancy rate and has a significant waiting list of prospective tenants. This is a testament to the efficacy of the organization moving rapidly to meet community needs and an indication of the high demand for affordable space. CIRES also uses revenue generated from tenants paying market rates to provide strategic grants and investments in its non-market tenants, local social enterprises and other community economic development initiatives. In this past year that has amounted to over $550,000. CIRES staff have also provided a range capacity building supports and other in-kind enterprise development services to our non-market tenants.
Real Estate affordability is one of the most challenging issues for residents and businesses alike. However, CIRES firmly believes that real estate can also provide a solution to many of the pressing economic challenges facing Vancouver’s inner-city. Leveraging provincially owned assets has ensured that residents continue to have access to affordable goods and services, employment opportunities and healthier communities.
Please do not hesitate to contact our Executive Director, Steven Johnston if you have any further questions about our work. You may reach him directly via email at firstname.lastname@example.org
Please click here to read CIRE's Annual Report 2019 - thank you!