Tapestry Community Capital

On VIA Rail Canada to Ottawa for the Sustainable Finance Forum, sharing my reflections on #HousingCentral by the BC Non-Profit Housing Association last week: 1) Collaboration not competition - It was inspiring to share the stage with Kira Gerwing from Sacha Investments and Luke Harrison, who shared how they partnered, often along with Vancity Community Foundation too, to fund new affordable housing projects. We need more examples of this collaboration across Canada, and in other sectors too, where organizations repeatedly partner and work together without a scarcity mindset. 2) We have the capacity - There is a lot of empty talk from the private sector that the non-market sector "does not have the capacity" to deliver new housing. There are countless leaders in our sector that are radically debunking that myth. It was inspiring to witness the continued evolution of Entre Nous Femmes Housing Society under the leadership of Lilian Chau, who continues to grow their new housing supply. These organizations are also working with an intersectional approach and often partnering with Indigenous and Black-led housing providers and communities for collective developments. 3) Shifting power in funding - There is a growing recognition that our traditional systems of finance and investing are at the root of our current housing crisis. Community bonds are rapidly growing as a financing solution that shifts power to housing providers, to raise capital on their terms, and mobilize community support. It was wonderful seeing Lindsay Harris from Propolis Cooperative Housing Society who recently acquired their site to develop net-zero affordable housing, supported an inclusive group of community investors including residents, neighbours, and organizations such as First West Credit Union, Thrive Impact Fund, and Affordable Housing Societies . It is clear that this is just the beginning of this movement and proud of our growing impact at Tapestry Community Capital. 4) Breaking bread - It is impossible to deny Vancouver's superiority to Toronto when it comes to Japanese, Chinese, and Vietnamese food. Being away from home is made easier with colleagues like Kyle Zhang, who love bringing people together for meaningful conversations over good food. Gratitude to the BC Non-Profit Housing Association for hosting us and looking forward to this week in Ottawa at the SFF!

On the tail of #NationalHousingDay, Tapestry is thrilled to share that we've moved forward in the CMHC Housing Supply Challenge — we're now FINALISTS! We've been awarded $3 million to scale up Canada’s community finance market for affordable housing. 🏡 Three major initiatives will be powered by this prize — read all about them here: https://lnkd.in/eTRHGF3Z

We have a big announcement coming Monday. 👀 Sign up for our newsletter to make sure you don't miss it! https://lnkd.in/e2KGiAUv

Help us welcome Fondation Cargo to the world of community bonds! Tapestry is working with Cargo to prepare for a community bond raise to create 76 new, affordable homes in Gatineau, Quebec. "We see community bonds as a powerful tool for catalyzing affordable housing initiatives in the national capital region. They allow us to engage directly with the community, offering an investment opportunity that contributes to meaningful change. By leveraging this model, we hope to scale up our capacity to create sustainable housing solutions, ensuring that more people have access to safe, affordable homes." - Daniel Sévigny, Chief Financial Officer and co-founder of Fondation Cargo The Eddy Project, led by Fondation Cargo, addresses the affordable housing crisis in Gatineau's Vieux-Hull neighborhood. Located on the former Tigre Géant site at 123 Eddy Street, this six-story building will feature 76 rental units and 4,000 sq. ft. of commercial space. Designed with community input as a long-term community asset, the project prioritizes long-term rent control, sustainable construction, and energy efficiency. 🌱 Learn more about Tapestry's work with affordable housing providers here: tapestrycapital.ca/housing

Grateful to be in Vancouver this week, on the unceded and ancestral territories of Musqueam, Squamish, & Tsleil-Waututh Nations, to present at #HousingCentral Our session will explore innovative financing models that, alongside government funding, are enabling the creation and protection of affordable housing. Looking forward to sharing the stage with Kira Gerwing, Luke Harrison, and Alice Sundberg! Excited to share stories of inspiring organizations mobilizing #CommunityBonds for affordable housing such as Indwell, Propolis Cooperative Housing Society, Ottawa Community Land Trust, Kensington Market Community Land Trust, Redwood Park Communities, & more. While the session focuses on alternative funding models, government funding remains vital to affordable housing development. BC Non-Profit Housing Association Tapestry Community Capital

🎉 Milestone moment: First West Credit Union has made the largest investment by a credit union in community bonds Tapestry has seen thus far! Recognizing the need for innovative, grassroots solutions to the housing crisis, First West has purchased $250,000 in Propolis Bonds, from Kamloops, B.C.-based Propolis Cooperative Housing Society. Read more: https://lnkd.in/e3ykkKDX (Pictured: The Propolis team.)

Can you raise community bonds without an established community of supporters? Short answer: Yes, but it takes time and a team dedicated to getting out into the community at every opportunity. Here's Propolis Cooperative Housing Society's story of raising nearly $1.1 million as a new organization in Kamloops, B.C. https://lnkd.in/eFXV3Niz P.S. this blog post is a preview of our newsletter, The Thread! Twice/month, we send out a brief on all things community finance and community finance-adjacent. Want in? Subscribe here: https://lnkd.in/eXjpn2WC

Calgary Heritage Housing has joined the community bond movement! 👏 We're excited to share that we're working with Calgary's second largest management body for senior self-contained housing — community bonds will help the organization create 145 affordable units for their senior neighbours. “Calgary Heritage Housing is working to grow capacity for much needed affordable seniors housing in Calgary. Community bonds will allow us to go beyond the reach of philanthropy to engage an entirely new market and on a whole new level. We are excited by the prospects of this grassroots-style initiative.” - Marlys Jordan, CPM®, CRP, MPNL Candidate, Chief Executive Officer at Calgary Heritage Housing This means we're now working in seven provinces across the country, up from two provinces this time last year. Community bonds are a national phenomenon! Learn more about community bonds in the affordable housing sector here: tapestrycapital.ca/housing

We're excited to announce that Brique par brique — a nonprofit working on social housing development and community spaces in and beyond Montréal's Parc-Extension neighbourhood — is working with Tapestry to explore community bonds as a financing solution! 🏡   “Brique par Brique has issued community bonds before, and we were originally hesitant about issuing again, considering the capacity it takes. But after beginning to work with Tapestry this time around, we're convinced that we can find innovative ways to market our bonds and have the administrative support we need to lighten the load on our team," says Brique par Brique's director Faiz Abhuani. "For nonprofits like ours, what the community bond offers is the only option for raising capital in a way that's more autonomous and less dependent on project funding and on the government. I'm excited to be working with Tapestry.”   Learn more about Brique par Brique's work in this interview with Montréal Serai: https://lnkd.in/esEDQque Curious about working with Tapestry to raise community bonds? Get in touch with our team here: https://lnkd.in/eqbrqYmA

Did you miss last week's issue of The Thread, our bi-weekly newsletter? 🗞️ In a brand new format unveiled last week, we answered a big question many charities and non-profits ask: My board is interested in new ways to finance our work, but they've never heard of community bonds. How can I educate them? Three tips: know your audience, highlight community bonds' flexibility, and bring your board members to our workshop! Read all the details here: https://lnkd.in/etVBstMJ Don't want to miss next week's issue of The Thread? Need to stay up to date on the latest in financing news and tips for non-profits and co-ops? Subscribe here: https://lnkd.in/e2KGiAUv 👀 Sneak peek: Next week we're diving into how exactly community bonds can help build your base of supporters — especially for new organizations.