Province to subsidize Lions Place rent

Manitoba's provincial government is giving $1.2 million in rent relief for residents at Lions Place.

The province said in a news release that Manitoba Housing will be entering into a two-year rent supplement agreement with the new owner.

"The rent supplement provides a top-up between the market rent charged by a landlord and the rent a tenant can afford to pay, and will ensure rents do not increase for any Lions Place residents for the next two years while a new funding model is being developed," said the release.

The 287-unit apartment building at 610 Portage Avenue has been the centre of attention since its owner told residents late last year it would be selling the building.

Lions Housing Centres told CTV News in December that it had accepted an offer from an unnamed Alberta-based firm to buy the building and the deal could be done by the end of January.

Residents have held several rallies protesting the sale, saying they won't be able to afford rent when the new owner takes over.  

The province said this new funding model will make sure vulnerable households are protected from unaffordable rent increases.