Thank you, Mr. Speaker. The North loves its monopolies, whether it be Northmart, Northwestel, Northland Utilities, or today's topic of my statement, Northview Apartment Real Estate Investment Trust.

Mr. Speaker, our residential tenancy system, by design, is a neutral arbitrator of individual disputes and, as such, is not empowered to address larger systemic issues and abuses by landlords. We have seen this recently in Northview's illegal collecting of pet deposits, yet this is not a one-off issue, Mr. Speaker. There is no shortage of human rights or residential tenancies' complaints that point to larger systemic negligence on the part of Northview Apartment REIT.

Northview is the North's largest private landlord, with a near-monopoly on rental apartments in both Yellowknife and Inuvik. Northview is an unincorporated, open-end real estate investment trust, a corporate entity which, by design, treats real estate as an investment first and foremost, and pleasing its shareholders above treating those houses as people's homes.

The company has a portfolio of over 24,000 residential suites in over 60 markets across Canada. It was formed in 2015 following a merger of Northern Property REIT, True North Apartment REIT, and a number of privately held residential properties. Prior to that merger, the Competition Bureau conducted an investigation and issued a no-action letter, Mr. Speaker. I, myself, have filed a complaint in regard to Northview's monopolistic practice, but found no traction in the federal legislation. It falls on us in this House to ensure we have adequate legislative powers to address this.

Mr. Speaker, it is our role here as a government to ensure there is fair and adequate competition in our territory. A dominant landlord reinvesting rent collected in the North into properties located in the South has a significant impact on the people living in a territory with one of the highest costs of living in the country. In addition, Mr. Speaker, the high cost of construction in the North limits the building of any new rentals. This means that a competitor emerging is not going to happen.

Yellowknife and Inuvik have significant income inequality, with a large section of the population living below the poverty line. Given these factors, there is an increased necessity to avoid market domination in the North. The solution to this issue is complicated. It requires competition to emerge in the market. Mr. Speaker, I am seeking unanimous consent to conclude my statement.

---Unanimous consent granted