Investing in Affordable, Sustainable Housing –Together
We’re proud to join four fellow foundations in a $100,000 regional impact investment!
Community Foundation North Okanagan joins $1.1M community bond investment to support net-zero co-op housing
At Community Foundation North Okanagan, we believe that strong, resilient communities are built on a foundation of housing that is safe, sustainable, and affordable. That’s why we’re proud to join a first-of-its-kind regional collaboration: a $100,000 community bond investment made collectively by five community foundations across the Thompson Okanagan to support Propolis Cooperative Housing Society’s ambitious 53-unit project in Kamloops.
Planned for Kamloops’ North Shore, the six-storey mixed-use building will include 53 net-zero residential units priced below market rents. All units will operate as non-profit cooperative housing, providing long-term affordability for working households while also advancing environmental sustainability.
Propolis’ recent capital campaign successfully raised $1.1 million through community bonds, an innovative social finance tool offering both social and financial returns. The campaign attracted investments from 101 funders, including everyday residents, institutional partners like First West Credit Union, and impact-focused organizations such as Thrive Impact Fund and the Canadian Cooperative Investment Fund.
“As a community foundation, we’re always looking at how we can use all the tools available to create lasting impact,” says Leanne Hammond, Executive Director of Community Foundation North Okanagan. “This investment is not only about supporting affordable housing, it’s about building stronger connections across our region. Collaborating with our fellow community foundations amplifies our collective voice and impact, allowing us to tackle shared challenges more strategically.”
The collaborative $100,000 investment was made by Community Foundation North Okanagan alongside BC Interior Community Foundation, Shuswap Community Foundation, Central Okanagan Foundation, and Community Foundation of the South Okanagan Similkameen. This regional partnership is a powerful example of how community foundations can leverage their capital for greater collective impact.
Proceeds from the bond campaign will repay early bridge financing used to secure the property. This will allow the Propolis team to move forward with project design and development.
With a development permit anticipated by summer 2025 and occupancy targeted for 2027, this project is well on its way and stands as a powerful example of what’s possible when communities invest in themselves.
Learn more about the Propolis project and community bond campaign at www.propoliscooperative.com/bond-campaign.
“Propolis’ project is a brilliant example of how we can do more by investing in community-led, sustainable solutions. It’s a bold and timely response to the housing challenges facing our region — and we’re honoured to stand alongside our regional foundation peers to support it.”
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