A local community non-profit is looking to breathe life into a new affordable housing project by dangling a rare carrot in front of potential partners: upfront capital funding.
The Portage Community Revitalization Corporation (PCRC) has officially launched an expression of interest, seeking proposals from non-profits, housing co-operatives, and private property managers to create or support housing solutions within the city.
Mari Kozar, executive director of the PCRC, said the opportunity comes after the organization successfully transferred ownership of its previous four-plex build on 10th Street Northeast to Turn Key Property Management. With that project finalized, the corporation has the operational capacity and remaining fundraised capital to start fresh.
“It’s really difficult to find capital funding in the non-profit world,” Kozar said. “We want to hear what people have for projects on the go, how ready they are, and how it would serve our community so we can select the right fit.”
According to application guidelines, the funding is strictly earmarked for projects located within Portage la Prairie that can be completed within 18 months. Crucially, the initiatives must serve vulnerable residents and households earning 30 per cent or less of the area’s median income.
Kozar noted that the necessity for deeply affordable housing was a major theme highlighted in the city’s community safety and well-being plan released earlier this year.
Eligible proposals can include new construction, building conversions, property acquisition and rehabilitation, or accessibility modifications to existing units. The PCRC’s previous 10th Street build included a land title requirement ensuring the units remain affordable for 20 years, a model the organization views as a benchmark.
Kozar said she has already had preliminary conversations with interested parties and encourages anyone with an innovative concept to reach out to her directly before submitting a formal proposal.
“It really is an opportunity that you don’t normally get to do,” Kozar said.
