Sask. NDP take aim at Calgary-based Boardwalk in continued call for rent control
At a news conference on Wednesday, NDP housing critic April ChiefCalf highlighted how Boardwalk has succeeded in Saskatchewan.
Boardwalk's financial report for the second-quarter of 2025 highlights how on July 23, 2025, the company purchased three properties — two in Saskatoon and one in Regina — with a combined total of 235 suites.
The same report highlights how Boardwalks' Saskatchewan business saw a 13 per cent increase in profits during the second quarter of 2025 compared to the same time period last year.
"They're coming here and investing in our province because the incentive is that there's a lack of rent control and that's going to give them the freedom to increase rent, and the issue is they want to increase their profits," ChiefCalf said.
ChiefCalf said Boardwalk is a prime example of why rent control is necessary in Saskatchewan.
Sam Kolias, CEO of Boardwalk, rejected ChiefCalf's assertion.
In an interview on Wednesday, Kolias said a lack of rent control in Saskatchewan has helped the province.
"New supply is new competition. New competition creates more affordable rents. Saskatchewan, with no rent controls, has the most affordable rents in Canada," Kolias said.
'That's just not right'
Last month, ChiefCalf announced she'd introduce a rent control bill in the legislature this fall. B.C., Ontario, Manitoba and P.E.I. already have rent control measures.
The private members bill will be driven by public consultation through the NDP's rentcontrolnow.ca website.
ChiefCalf has said that seniors on fixed incomes are most hurt by the lack of rent caps.
"Big corporate landlords should not be allowed to jack up rents 15, 20, and even 30 per cent in a single year and send the profits out of province. That's just not right," ChiefCalf said on Tuesday.
Kolias said he doesn't believe rent control is a solution to high rental rates. He said there is a role for government, such as providing rental subsidies or rental supports, and setting good public policy.
The Boardwalk CEO disagreed with ChiefCalf's assessment that the company is taking advantage of the Saskatchewan market.
"We are redefining BFF: Boardwalk family forever," Kolias said.
"We're a family, we're all family. Let's come together. We have more in common because we're all for increasing affordable housing and helping folks that need help."
In a statement, the Government of Saskatchewan slammed ChiefCalf for her comments, saying it now appears the NDP are calling for "Canadian companies to be banned from investing in the province."
"This would further decrease supply and make it more difficult for families to find safe and affordable housing options," the statement read.
The provincial government went on to highlight Saskatchewan's affordability and rejected the NDP's call for rent control.
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