Acquisition is the idea of taking buildings that are already built and being able to convert them into affordable housing with the intention, especially if they are publicly or socially owned, for the housing to be of good quality. This also includes taking non residential housing and converting into residential housing (ex. Hotels, office buildings, churches). Having a list of properties that are most at risk of being lost would be crucial for an effective acquisition strategy.
An acquisition strategy would mean that non-profit housing organizations would have the time and ability to get available rental housing stock. The implementation of a municipal right to first refusal bylaw would grant initial access to these properties to the City.
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