Residents in Peterborough and the Kawarthas can help build more local affordable housing options by participating in a new investment program offered by Habitat for Humanity Peterborough & Kawartha Region (Habitat PKR).
Habitat PKR says it’s “at a pivotal moment” in its mission to transform the local landscape of affordable housing and is calling on the community to support the endeavour. The organization is launching a “High-Impact Investment Program” that gives community members the chance to contribute by providing sizeable loans to Habitat PKR at agreed interest rates.
In return, lenders receive annual payments for the accrued interest, with the flexibility to request their money back at any time. At the end of the loan period, Habitat PKR will repay the loan in full, with the opportunity to provide the accrued interest in the form of a charitable tax receipt, providing additional benefits to lenders, Habitat PKR noted in a media release.
“We are looking for community-minded individuals who have capacity to give a sizeable loan, whatever that is to the individual,” Jenn MacDonald, Habitat PKR’s communication and donor services manager, told kawarthaNOW.
She said investments ranging from $10,000 to $100,000 “would have a significant impact, but we are open to working with investors on a lower scale as well.”
“We have just launched the program and are in communication with a few interested parties,” MacDonald noted.
The investment program would allow Habitat PKR to build on the success of its two-phase Leahy’s Lane development in Peterborough — the first multi-unit development of the organization that has traditionally built single-family homes. The first phase, a 41-unit affordable condo development at 33 Leahy’s Lane, was completed in April 2022, and the second phase, a 12-unit affordable condo development at 21 Leahy’s Lane, is approaching completion.
“Habitat PKR is positioned to embark on additional projects that will provide much-needed affordable homes to families and individuals across the Peterborough, Kawartha, and Haliburton regions,” Habitat PKR noted. “To realize this vision, however, the organization is reaching out to the community for support through its new High-Impact Investment Program.”
As a non-profit organization, the approach enables Habitat PKR to fund the construction of affordable housing projects without relying on high-interest loans from financial institutions, thereby maximizing the impact of every dollar invested. By lowering costs, it can also increase the organization’s ability to serve families on the lower end of the financial spectrum.
“This unique program not only fosters community support but also offers a tangible charitable benefit, furthering Habitat PKR’s mission to provide safe, decent, and affordable housing for all.”
“With the support of our community, we can use invested capital to purchase available land and construct more affordable homes across our region, ultimately helping more families and individuals achieve stability through affordable homeownership,” said Susan Zambonin, CEO of Habitat PKR, in the release.
Habitat PKR said the program contributes to the creation of thriving communities and also offers a unique charitable opportunity to the investor.
“It’s a win-win scenario — investors make a meaningful impact in the local community that will support generations to come, while also benefiting through a financial tax incentive.”
For more information on how to participate in the High-Impact Investment Program, visit www.habitatpkr.ca/donations/hiip.
