Shuswap Community Foundation supports $1.1M community bond for affordable net-zero housing in Kamloops
At Shuswap Community Foundation, we believe that vibrant, resilient communities start with safe, affordable, and sustainable housing. That’s why we’re proud to announce our participation in a first-of-its-kind regional collaboration — a $100,000 community bond investment made collectively by five Thompson Okanagan-based community foundations to support Propolis Cooperative Housing Society’s groundbreaking 53-unit project in Kamloops.
Propolis’ six-story, mixed-use building, planned for Kamloops’ North Shore, will offer 53 net-zero residential units, all priced below market rents, helping to alleviate the deepening housing crisis in the region. The innovative project combines environmental stewardship with long-term housing affordability, demonstrating exactly the kind of impact-driven solution we believe in.
“Affordable housing is one of the most urgent needs in our communities,” said Roger Parenteau, Executive Director of the Shuswap Community Foundation. “By working together across the Thompson Okanagan, we’re able to leverage our resources for greater impact — and invest in solutions that align with our shared values of sustainability, affordability, and community well-being.”
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.
In addition to Shuswap Community Foundation, the collaborative investment was made by BC Interior Community Foundation, Central Okanagan Foundation, Community Foundation North Okanagan, and Community Foundation of the South Okanagan Similkameen.
“Community foundations have long supported local initiatives through granting programs,” added Roger Parenteau. “But initiatives like this show that impact investing can be another powerful tool in our toolkit — helping to finance critical projects while growing our endowments responsibly.”
Construction milestones are expected to move forward quickly, with a development permit application anticipated by summer 2025 and occupancy targeted for 2027.
This project is a shining example of what’s possible when community foundations, residents, and partners come together around a shared vision for a better future.
Learn more about the Propolis project and community bond campaign at www.propoliscooperative.com/bond-campaign.
