Community Impact Real Estate Society

What Community Impact Real Estate Society does

Community Impact Real Estate Society (CIRES) is a non-profit social enterprise incorporated in British Columbia in December 2017 that operates as a commercial lease and property management intermediary for Vancouver's Downtown Eastside (DTES) and inner city. The organization is the prime tenant under a Head Lease with BC Housing and the Provincial Rental Housing Corporation, managing a portfolio of 53 commercial units across 29 buildings totaling 112,452 square feet. CIRES curates a deliberately blended mix of approximately 60% social enterprises and non-profits on cost-recovery or below-market terms alongside market-rate tenants that complement the neighborhood. As of 2019, the organization reported annual revenues of $1.5 million CAD and a 92% portfolio occupancy rate; as of March 31, 2025, it held 51 sublease agreements, 73% of which include Social Benefit Covenants (SBCs) committing tenants to local procurement, local employment, and provision of community-focused goods and services.

CIRES' differentiating mechanism is its Social Benefit Covenant (SBC) framework — contractual obligations embedded in sublease agreements that are negotiated with each tenant and reported on annually, supported by an internal Impact Support Services (ISS) function that helps tenants fulfill and document their covenants. The model is enforced through an Expression of Interest (EOI) application process reviewed on blended community and economic value criteria, with all sub-tenants additionally requiring BC Housing approval. Underlying technology is essentially administrative: a covenant tracking and reporting system plus an available units directory on its website, with no platform, API, or AI components. The organization reinvests surpluses in community opportunities and runs adjacent programs including Washington Community Market (a low-cost grocery store), the Coordinated Community Response Network (CCRN), and the Exchange Inner City (EIC) community economic development network of 55+ organizations.

CIRES' revenue is generated through commercial sublease rent (market-rate and below-market), statutory additional rent covering common area maintenance, property taxes, and management fees, and an administrative/intermediary function channeling government and BC Housing funds to community organizations. Pricing is negotiable rather than standardized, with cost-recovery rates offered to non-market tenants generating high community value. The customer base spans social enterprises (e.g., East Van Roasters, Washington Community Market, Common Thread Co-operative), non-profits (e.g., Downtown Eastside Women's Centre, RISE Women's Legal Centre, Overdose Prevention Society), and market-rate commercial tenants (e.g., Di Beppe, Jules Bistro, Lamplighter Public House). The go-to-market is community-led, relying on direct outreach via CED networks, the available units directory, and an EOI review process rather than paid marketing.

Name

Community Impact Real Estate Society

Legal name

Community Impact Real Estate Society

Website

https://communityimpactrealestate.ca

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Community Impact Real Estate Society (CIRES) is a Vancouver-based non-profit social enterprise that manages 53 commercial units across 29 buildings in Vancouver's Downtown Eastside under a Head Lease with BC Housing, curating a blended portfolio of social enterprises, non-profits, and market-rate tenants under Social Benefit Covenants.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services (Social Enterprise Property Management)

NAICS

Religious, Grantmaking, Civic, Professional, and Similar Organizations (813), Services to Buildings and Dwellings (5617), Other Community Housing Services (624229)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512), Services-Social Services (8300)

akta.pro primary industry

Community Centers & Neighborhood Support Services (BPAGAEAL)

akta.pro secondary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

Keywords

• Commercial property management
• Social enterprise leasing
• Affordable commercial space
• Community economic development
• Mixed-tenant real estate

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Commercial Lease Revenue: Revenue generated from subleasing commercial spaces to market-rate tenants, non-market tenants, social enterprises, and non-profits. Base rent rates are negotiable with below-market rates offered to tenants generating significant community value. Additional rent includes common area maintenance, property taxes and management fees.
2. Social Benefit Covenant Contributions: Tenants commit to social value through SBCs including local procurement, local employment, and community-focused goods and services that lift the broader community.
3. Administrative and Intermediary Services: CIRES acts as an intermediary funding partner for government, channelling funds to community organizations and administering contracts on behalf of BC Housing and City of Vancouver.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Community Impact Real Estate Society is a commercial lease and property management social enterprise that curates a balanced portfolio of 53 commercial units across 29 buildings (112,452 square feet) in Vancouver's inner city. It subleases space to a mix of market-rate small businesses, non-market non-profits, and social enterprises, embedding Social Benefit Covenants (SBCs) into lease agreements to require local employment, local procurement, and community-focused goods and services. Supporting services include Impact Support Services (ISS) to help tenants fulfill and report on SBC obligations.

Product overview

Community Impact Real Estate Society (CIRES) is a social enterprise offering commercial lease and property management services through a portfolio of 53 commercial units across 29 buildings in Vancouver's Downtown Eastside and inner city neighborhoods. The core offering is a blended portfolio combining market-rate commercial tenants with non-market social enterprises and non-profits, where all tenants sign Social Benefit Covenant (SBC) agreements. Supporting services include Impact Support Services (ISS) for SBC fulfillment and reporting, plus community projects such as the Washington Community Market (low-cost grocery), Coordinated Community Response Network (CCRN), and Exchange Inner City (EIC) CED program. CIRES does not offer a technology platform, API, or AI-powered products.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Lease and Property Management Services Core commercial leasing and property management service for a blended portfolio of 53 commercial units across 29 buildings (112,452 sq ft) in Vancouver's inner city. Subleases space to market-rate commercial tenants, non-market social enterprises, and non-profits at negotiated rates, with Social Benefit Covenants embedded in lease agreements requiring tenants to commit to local employment, local procurement, and community-focused goods and services, and to report annually on social impact.
• Impact Support Services (ISS) Support service designed to help CIRES commercial tenants fulfill their Social Benefit Covenant (SBC) obligations and report on positive social impact within the City of Vancouver. ISS supports implementation, sustainability, and reporting of community benefits including local procurement, local employment, and provision of community-focused goods and services.
• Washington Community Market Low-cost grocery store and Community Economic Development (CED) project of CIRES that has been providing affordable food to residents of Vancouver's Downtown Eastside for over 20 years. Provides employment opportunities to people facing barriers to work.
• Available Commercial Units for Lease Office, retail, and flexible commercial space for lease in Vancouver, available to small businesses, non-profits, and social enterprises that contribute to their communities. Properties include Dundas Plaza, Cordova Residences, and Secord, listed on CIRES' website with brochures, addresses, and inquiry contact ([email protected]).

Quantifiable outcome

• 73% of sublease agreements contain Social Benefit Covenants as of March 31, 2025
• +4 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• BC HousingcoreStrategic or Co-development Partner · 1 December 2017CIRES is the prime Tenant in a Head Lease with BC Housing and the Provincial Rental Housing Corporation. BC Housing is the Head Landlord and any new CIRES commercial tenant needs to be approved by BC Housing as part of the Head Landlord approval process.
• Provincial Rental Housing CorporationcoreStrategic or Co-development PartnerJoint Head Landlord with BC Housing for CIRES' commercial property portfolio management.
• Coordinated Community Response Network (CCRN)coreStrategic or Co-development PartnerNetwork of over 20 active stakeholders engaged in leading the community through COVID-19 impact and advocating for recovery measures. CIRES provides program management and administrative support. Network meets Monday, Wednesday, Friday via Zoom.
• Exchange Inner City (EIC)coreStrategic or Co-development PartnerCED program of CIRES that emerged from City of Vancouver's CED Strategy planning process. Originally known as CEDSAC, group of 35+ community organizations co-created citywide strategy in 2016. Now a collaborative network of 55+ organizations and individuals.
• City of VancouvercoreStrategic or Co-development PartnerKey partner in addressing community economic development and affordable housing. CIRES works with City on Social Infrastructure Plan, Activate DTES program, and acts as funding intermediary. City provides funding for various community initiatives through CIRES.
• Potluck Café SocietymajorStrategic or Co-development PartnerSocial enterprise providing healthy food and work opportunities to DTES residents. Led COVID-19 food coordination response, providing 2,500 meals daily to residents isolating in SROs. Partnered with CIRES in CCRN.
• EMBERS CanadamajorStrategic or Co-development PartnerEastside Movement for Business and Economic Renewal - social enterprise temp hiring agency. Delivers skills training for employment programs in DTES. Worked with CIRES on peer support programs and COVID-19 response.
• CleanStartmajorStrategic or Co-development PartnerSocial enterprise providing professional cleaning and sanitization services. Hires people with barriers to employment. Expanded from 11 to 35 buildings during COVID-19, nearly doubling staff. Received first loan from CIRE's contribution to National Social Value Fund.
• Mission PossiblemajorStrategic or Co-development PartnerDTES social enterprise providing employment and community programs. Partner in CCRN and COVID-19 response. Received 2025 Mission Possible Impact Partner Award alongside CIRES.
• Binners ProjectminorStrategic or Co-development PartnerDTES social enterprise providing employment opportunities through bottle and can collection. CIRES Executive Director serves on Advisory Board. Partner in CCRN.
• 312 MainminorStrategic or Co-development PartnerDTES social enterprise workspace and community hub. Partner in CCRN COVID-19 response discussions.
• The Cleaning SolutionminorStrategic or Co-development PartnerDTES social enterprise. Partner in CCRN COVID-19 response discussions.
• Potluck CateringminorStrategic or Co-development PartnerDTES social enterprise. Partner in CCRN COVID-19 response discussions.
• Brave Technology CoopminorStrategic or Co-development PartnerVancouver-based cooperative developing technology to combat overdose crisis. CIRES provided funding for pilot overdose sensor project system. Two locations in CIRES portfolio identified for observational and learning project.
• Vancouver Co-op RadiominorStrategic or Co-development PartnerCommunity radio station where CIRES recorded narration for their organizational video story.

Scale indicators15 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Impact Hub: Global network of impact-focused coworking and incubation hubs in 100+ cities. Comparable to CIRES as a curated commercial space provider for social enterprises and mission-aligned small businesses, though typically in a coworking format rather than long-term subleases.
• Centre for Social Innovation (CSI): Toronto-based nonprofit that operates shared workspaces and convenes mission-driven tenants across multiple locations. CSI is a direct peer because it curates commercial real estate for social-purpose tenants using a community-anchor model conceptually identical to CIRES, including impact reporting and below-market access.
• EcoTrust: Portland, Oregon-based nonprofit that owns and operates a multi-tenant campus (the Ecotrust building) curating tenants aligned with social and environmental missions. Comparable to CIRES in operating as a nonprofit real estate steward that curates tenants and reports on community/environmental outcomes rather than maximizing rent.
• Artscape: Toronto nonprofit real estate developer that converts underused properties into affordable spaces for artists, nonprofits, and creative enterprises. Highly comparable to CIRES in blending non-market and market tenants in service of community economic development goals, often under partnership with public-sector landlords.

Others

• Capital Impact Partners: U.S. CDFI providing loans and financial services for community-owned real estate and social enterprises. Comparable as an ecosystem partner funding mission-aligned real estate ventures; CIRES contributes to similar funds (e.g., National Social Value Fund) and could partner with or be supported by Capital Impact Partners-type institutions.
• Local Initiatives Support Corporation (LISC): U.S. national CDFI that finances community development, including real estate projects with social-benefit obligations. Comparable to CIRES as an enabling/financing institution in the community real estate ecosystem, though LISC operates as a capital intermediary rather than directly subleasing commercial space.

Broad incumbents

• Grounded Solutions Network: National membership organization supporting community land trusts (CLTs) and shared-equity housing models across the U.S. Comparable as a broader incumbent in mission-aligned real estate stewardship; overlaps with CIRES on community-rooted real estate models but focuses on residential CLTs rather than commercial subleases.
• Mercy Housing: Major U.S. nonprofit affordable housing developer/operator with mixed-use and ground-floor commercial components. Comparable as a large incumbent in nonprofit real estate with social covenants and community-benefit programs; differs from CIRES in being primarily a housing (not commercial) operator and at national scale.
• Enterprise Community Partners: Large U.S. nonprofit that develops and operates affordable and mixed-use real estate with community-benefit requirements. Comparable as a scaled incumbent in mission-aligned real estate; differs from CIRES in being nationally scaled and focused primarily on residential/affordable housing rather than a single neighborhood's commercial portfolio.

Regional players

• Collingwood Neighbourhood House: Vancouver-based nonprofit community center operating in the Renfrew-Collingwood area with programming for low-income residents. Comparable as a regional community-services nonprofit operating in a similar BC inner-city context, though focused on direct service delivery rather than commercial real estate curation.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CIRESCommunity
• LinkedInlinkedin.com/company/community-impact-real-estate-society
• Instagraminstagram.com/communityimpactrealestate
• Facebookfacebook.com/communityimpactrealestatesociety

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Community Impact Real Estate Society