Impact Investing at The KWCF
Over the last several years there has been a growing interest and awareness across Canada in impact investing whereby private capital is mobilized to generate social and environmental value in addition to economic value.
Last year, The Board of Directors of The Kitchener and Waterloo Community Foundation (The KWCF) agreed that part of the assets of The KWCF should be invested 'for impact' in local charities and not-for-profits. While furthering The Foundation's focus on increasing our community's overall sense of belonging, the focus for impact investments is on making housing more affordable and/or accessible.
The KWCF is delighted to announce the first two investments we made were:
- A 5-year loan to Haven House, operated by Women's Crisis Services of Waterloo Region, that will save their agency interest costs over the 5-year period. This loan is related to their capital redevelopment project and will enable Haven House to re-direct these savings into much-needed programming.
- A 7-year loan to Housing Cambridge to enable them to move forward on a 56-unit housing project on Hespeler Road. The project will include 26 affordable housing units, examples of which include 5 units for residents supported by Thresholds, 2 fully modified units supported by the Independent Living Centre, 5 units at Ontario Disability Support Program shelter allowance rates and 5 units for Indigenous residents of Waterloo Region in collaboration with Wigwamen Incorporated.
The Foundation looks forward to working collaboratively with other potential projects as it develops a larger role in the area of impact investing. John Bowden will continue to play the impact investing lead role for the Foundation. If you'd like to learn more, check out our Impact Investing Backgrounder or, if you have questions, John would be happy to help.
Interim Chief Executive Officer
The Kitchener and Waterloo Community Foundation