Purpose

Tidal Bay is incorporated under the Nova Scotia Cooperative Associations Act. Its core mandate is to bring together resources, expertise, and access to capital to develop affordable housing in Nova Scotia.

Core Mandate

Tidal Bay focuses on creating long-term assets by:

Building new units and partnering with co-operatives and non-profit housing providers.

Raising and deploying capital to enable new development.

Preserving and renewing affordable housing through asset transfer and acquisition.

Maintaining these assets as mixed-income housing in perpetuity

Secondary Mandate

Tidal Bay also aims to:

Demonstrate the capacity of the community housing sector to build at scale.

Model a sustainable growth engine, increasing Human Resources capacity.

Re-invest surpluses into a housing development fund.

Partner with housing operators and social service organizations for resident support.

Review and consider opportunities to expand affordable housing through new partnerships.

Portfolio Approach

Tidal Bay adopts a portfolio approach by centralizing key functions like asset management while maintaining ground-level property management and governance. This approach enables the absorption of distressed housing assets for redevelopment and improved management. It allows for cost-efficiencies in areas such as development, construction, financing, and operations of buildings.

Additionally, cross-subsidization between projects helps deepen affordability for lower-income residents. By managing multiple sites, Tidal Bay is able to house diverse populations, including low-income families and individuals with mental health and addiction challenges, all supported by non-profit partner organizations.

Supporting Residents

Non-profit partner organizations work alongside Tidal Bay to provide necessary expertise and resources, ensuring residents receive proper support.