Gather Housing Communities, a new non-profit and part of the Indwell Family of Companies, is mobilizing community investment with a $15 million Community Bond campaign to finance the construction of affordable rental housing in Southern Ontario. This innovative approach allows everyday Canadians, businesses, and institutional investors to invest locally, with amounts starting at $1,000, to […]
Gather Housing Communities, a new non-profit and part of the Indwell Family of Companies, is mobilizing community investment with a $15 million Community Bond campaign to finance the construction of affordable rental housing in Southern Ontario. This innovative approach allows everyday Canadians, businesses, and institutional investors to invest locally, with amounts starting at $1,000, to directly fund new homes for working households, families, seniors, and newcomers.
The investment is designed to tackle the region’s growing housing crisis, which has left those earning between $30,000 and $90,000 without affordable options, a group referred to as the “missing middle”. This group includes essential workers in healthcare, manufacturing, and service industries, as well as young families, seniors, and single-income earners who are increasingly priced out of their communities. Nearly one in three renters in Ontario currently spend over 30% of their income on housing.
Gather’s first project in Hamilton will transform a former church site into 164 affordable rental homes. These new homes will ensure that households spend no more than 30% of their income on rents, with approximately 30% of the units being eligible for municipal rent subsidies.
Community bonds are a proven form of social impact investment that offer both a social and financial return, allowing investors to earn up to 4.85% interest. The funds raised will be used for pre-construction costs such as land acquisition and project design, creating a revolving fund that will be recycled for future projects. Gather aims to deliver 500 units in the first five years and more than 300 units per year thereafter across Southern and Southwest Ontario.
Jeff Neven, CEO of the Indwell Family of Companies, stated, “Gather was created to meet the needs of the growing number of working households and individuals, newcomers and seniors who are being priced out of today's rental market. This community bond campaign is a chance for all of us to invest in solutions that will have an impact for generations. When we come together to create affordable homes, we’re strengthening the social and economic fabric of entire neighbourhoods and communities”.
Gather’s commitment aligns with the Indwell family’s shared vision of “Hope and Homes for All,” and the bond is being administered by Tapestry Community Capital, which previously guided Indwell’s successful $6 million community bond raise in 2024 for other Hamilton-based projects.
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