Three decades of grantmaking benefitting the Alberta real estate industry and Alberta communities
March 3, 2021: During these unprecedented times, the Alberta Real Estate Foundation (AREF) has increased annual funding to better support the real estate industry and Albertans.
The Foundation will celebrate its 30th Anniversary this year. To mark this milestone, the Foundation has doubled its annual funding budget to $4 Million to distribute to qualifying projects that advance its mandated support for the real estate industry and in turn, all Albertans. Notably, $2 million of this increase will be allocated specifically to a 30th Anniversary Legacy Grants Fund for projects valued at over $250,000. This new one-time fund is in recognition of the Foundation’s 30 years of distributing grants to support real estate education, research, law reform, and related priorities.
Formed by the Government of Alberta in 1991, the Foundation has the mandate to support and advance the real estate industry and serve the public interest by funding real estate education, law reform, research, and other activities. Over the last three decades, the Foundation has awarded more than $23 million in grants to over 650 projects.
Economic and pandemic circumstances have created an unpredictable and challenging time and the Foundation is focused on contributing to Alberta’s real estate recovery. Real estate, including real assets and property (land), is crucial to the prosperity of the province and is an area in which the Foundation can make a tangible difference as Albertans get back on their feet.
To best respond to a post-pandemic recovery, the Foundation’s Board recently completed an in-depth review and refinement of the Foundation’s grants criteria, processes, categories, and management. As a result of this review and economic considerations within the Province, the Foundation is revising its funding programs:
- Sponsorships (for requests under $10,000)
- Development and Investment Grants (for requests between $10,000 – $250,000)
- One-time 30th Anniversary Legacy Grants (for requests over $250,000+)
The Sponsorship Program allows the Foundation to respond nimbly to the needs of its stakeholders across the province and strengthen its connection to the industry through the support of industry-related initiatives and community events.
Development and Investment Grants support and advance education, research, law reform, and other activities related to real estate under three categories: Real Estate Leadership, Built Environment, and Land.
The 30th Anniversary Legacy Grants program, a special one-time $2 million major grants program, aims to fund projects that will bring transformational and long-term change for the real estate industry in the new and emerging world that fosters healthy, vibrant communities across Alberta.
“Our Board has taken the bold move to double the Foundation’s grants this year,” says Chair Doug Leighton. “We are encouraging ambitious funding applications and collaborative partnerships that will advance and improve real estate and benefit communities across Alberta.”
The next grant deadline is May 3. Visit www.aref.ab.ca.
About the Alberta Real Estate Foundation
The Alberta Real Estate Foundation was established in 1991 under the Real Estate Act. It has three related mandates: to educate professionals and the public; support law reform and research; and support other projects to advance and improve the real estate industry. The Foundation fulfills this mandate by funding projects that support the industry and benefit Albertans; connecting people; and sharing knowledge in collaboration with the real estate industry and public stakeholders.
The Foundation’s revenue is generated by real estate transactions, both sales and rental, across the province. Whenever a consumer deposits money in trust through a licensed real estate broker, property manager, mortgage broker, or commercial broker on a real estate transaction, the small amount of interest earned on that deposit is forwarded to the Foundation. The Foundation then invests those public funds through its sponsorships and grants.
|For more information about the Alberta Real Estate Foundation visit www.aref.ab.ca or contact:|
|Patti Morris, Executive Director
Ph: 403-228-4786 ext. 2
|Sarah Stuebing, Communications & Community Investment
Ph: 403-228-4786 ext. 3