A First-of-Its-Kind Program Offering Over $1M in Company-Funded Grants to Support Residents Through Life’s Unexpected Challenges
Tricon Residential, a Blackstone Real Estate portfolio company, announced today that its Resident Emergency Assistance Fund ("Fund") has distributed over $1 million in financial assistance to more than 500 residents and their families. Since its launch in 2019, this unique initiative has provided vital support to residents navigating unexpected challenges such as job losses, medical emergencies, and the loss of a loved one. The Fund has helped residents cover essential expenses, including insurance premiums, car repairs, rent, medical bills and funeral costs.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250213354595/en/
“At Tricon, we are committed to being more than a housing provider – we strive to make a meaningful difference in our residents’ lives,” said Gary Berman, President and CEO of Tricon. “The Resident Emergency Assistance Fund reflects this commitment by ensuring residents can get the support they need during life’s most difficult moments. As we continue to grow, this Fund remains a cornerstone of our dedication to wellbeing and community impact.”
Kathleen McCarthy, Global Co-Head of Blackstone Real Estate said, “Blackstone shares Tricon’s belief that residents deserve to have exceptional experiences in their homes, and we are thrilled to support this mission to provide meaningful and substantial aid to community members in need.”
A Groundbreaking Approach to Resident Support
Tricon’s Fund is unique in that it provides personalized financial aid tailored to each resident’s immediate needs. Fully funded and managed by Tricon, the program delivers timely assistance without the delays or restrictions typical of external aid systems. An independent review board – composed of past and current residents, alongside a tenant advocate – ensures grants are allocated equitably and effectively.
"Losing my husband has been overwhelming, but the generosity of Tricon has lightened some of the burdens my family and I have faced. The support we received from the team and Tricon’s Resident Emergency Relief Fund during this difficult time has provided us with immense comfort," said Tricon resident Marisol Barbosa. "Their kindness and compassion have made a profound difference, and we are deeply grateful for their thoughtfulness during this challenging period in our lives."
“Tricon’s help and genuine care during a challenging time were invaluable to my family and me, making a significant difference when it mattered most,” said Rob King, former Tricon resident and current Fund Board Member. “The Resident Emergency Assistance Fund exemplifies how Tricon turns that care into action for its residents. This commitment to making a positive impact on both residents and the community inspired me to become an Independent Board Member, ensuring this program continues to support other families in times of need.”
A Culture of Care and Giving
The Resident Emergency Assistance Fund reflects Tricon’s strong commitment to having a positive impact. Beyond this initiative, the company invests significant time and resources in supporting residents and creating meaningful change in the communities it serves.
Additional initiatives include:
- Resident Down Payment Assistance Program: Tricon offers $5,000 in down payment assistance to residents who have been with Tricon for five or more years, helping them transition from renting to homeownership.
- Financial Wellbeing Programs: Thousands of residents currently participate in Tricon’s complimentary credit builder program. Additionally, residents have benefitted from over 1,700 free 1-on-1 financial coaching sessions and more than 75 financial literacy workshops sponsored by Tricon to enhance their financial wellbeing.
- Pay It Forward Campaign: Through Tricon’s one-of-a-kind Pay It Forward Campaign, employees are given $100 each to donate to a cause or individual of their choice. In 2023, this initiative resulted in over $50,000 in contributions to local charities across the U.S. and Canada, bringing the total amount donated since the campaign’s inception in 2017 to over $267,000.
- Volunteerism: In 2024, over 1,000 Tricon team members dedicated approximately 10,000 hours to volunteer efforts, supporting causes ranging from education and healthcare to environmental conservation and homelessness relief.
- Resident Bill of Rights: In 2022, Tricon announced an industry-leading Bill of Rights for residents, the first of its kind among single-family rental housing providers in the United States, outlining Tricon’s commitment to providing quality, move-in-ready homes with caring and reliable service.
To learn more about Tricon Residential and its commitment to positively impacting the communities it serves, please visit https://triconresidential.com/about/sustainability.
About Tricon Residential
Tricon Residential is an owner, operator and developer of single-family rental homes in the U.S. and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213354595/en/
Contacts
Media Relations, MediaRelations@TriconResidential.com
