The Social Purpose Real Estate Impact Investing Trust (SPREIIT) is a new initiative currently in consortium formation. SPREIIT responds to the urgent need to preserve and repurpose Canada’s underutilized community properties—such as churches, nonprofit centres, and cultural sites—at a time of rising urban inequality and social fragmentation. This effort aims to unlock private capital for long-term public benefit, without relying on public operating budgets. We are building a national collaboration of civic, financial, and philanthropic actors to develop a framework that supports housing, heritage, and community infrastructure across the country.