An investment in BC’s skilled workers

Go to Impact MIC Website

Read the Impact MIC November 6, 2019 news release.

The Problem

BC’s teachers, healthcare providers, skilled tradespeople, and public safety professionals can no longer afford to buy their first family home. Yet their communities, the neighborhoods of Vancouver, Victoria, Kelowna, Prince George and many others– need their commitment. When the cost of middle-class housing is out of reach, families can’t set down roots, and that can stop them from investing in the people, businesses, neighborhoods, and social causes around them.

The Challenge

How do we make housing affordable, without over-reliance on government-subsidized “affordable housing”, which is not sustainable and not a solution for the middle-income cohort?

The Proposal

We believe this is a serious workforce issue that can be addressed effectively with a proven business solution that is unique to Canada. We’re creating an impact investment vehicle in partnership with the BC Construction Association and other professional groups, that will offer a target minimum 6% return on your RRSP, RRIF, RESP, RDSP, TFSA or cash investment.

Your investment will be pooled with monies from other private and institutional investors to offer mortgages to BC’s essential workers based on employer / union / association recommendation. These mortgages through a mortgage investment corporation (MIC) will create value for both the investors and for the professionals that want to establish roots in BC communities.

Our idea is to use the MIC model to offer primary mortgages at current competitive mortgage rates. These mortgages will be amortized for a period longer than 25 years (40+ years a standard practice in Europe) to keep the monthly payments affordable.

What is a MIC

  • Mortgage Investment Corporation is a 100% flow-through, tax-free investment vehicle legislated into existence in 1973 to attract more private money while giving smaller investors access to the mortgage market
  • There are over 250-300 registered MICs within the Canadian market charging higher interest rate between 4%-15% and generating a return on investment between 4%-10%
  • MIC shares are qualified RRSP, RESP, RDSP, RRIF and TFSA investments

How would an “Essential Workforce MIC” be structured?

BCCA and the other partner associations and unions will be the principal holders of the MIC and its manager and have voting shares. There will be an independent Board of Directors who will oversee the working of the MIC Manager and whose decision will be final in all cases. 

Who Benefits?


stay in their communities, raise their families


predictable workforce, investment in skills and training for people more likely to stay


stability in families, volunteerism, community pride, home ownership


gain competitive return on investment

Investor Returns (Example)


Next Steps

The BCCA is actively seeking investors who are interested in impact investing while at the same time generating competitive returns targeted over 6%

If your organization represents educators, healthcare providers, public safety professionals or other essential workers in the community that are struggling to enter the housing market, there is an opportunity to expand this offering beyond construction.

Contact Us

Peter Elkins - 778.966.1250 -

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