Community Bond Campaign
We are raising $1.1 million through Community Bonds to launch our first cooperative housing development. Invest in the future of affordable green homes in Kamloops and earn up to 3.5% interest while supporting us to make our beautiful city vibrant and accessible for all.
The Opportunity
We are in the planning process for our first housing development to be built at 422/424 Tranquille Rd, in the heart of Kamloops’ North Shore. We will construct a 6-storey mixed-use development that will include 50 affordable residential units above approximately 9,300 square feet of commercial space on the ground level. We acquired the site in March 2024 and plan to begin construction in Fall 2025. The ground floor commercial space will be home to the Effie Theatre and a daycare. The residential units will be net-zero (using only as much energy as they produce from renewable sources) and incorporate universal design. Residential units will range from bachelor suites to 3 bedroom suites. Residents will enjoy common gardens, amenity spaces, and a shared vehicle program. All residential units will operate as non-profit cooperative housing and be priced affordably below market rents. A diverse range of residents will call this building home, including families, professionals, retirees, and students.
Housing costs are cheaper since we’re a non-profit! No one is profiting from your right to housing!
Ground level commercial space makes for walkable communities you want to spend time in!
Net Zero buildings are more self reliant, with lower operating costs and lower environmental impact for years to come!
Net Zero Energy
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Sustainable Building
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50 new affordable homes
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Net Zero Energy ~~~~ Sustainable Building ~~~~ 50 new affordable homes ~~~~
Investments
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A way for community members to invest in our affordable, sustainable housing project. Investors will earn up to 3.5% interest while supporting a vibrant future for Kamloops.
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Interest will be repaid via direct transfer to your financial institution. We have gone through extensive financial planning to make sure the annual interest payments can be disbursed and principal can be repaid to investors within the allotted time.
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We process bond purchases on the last day of each month. Please submit your application 2-3 business days prior to the end of the month to allow us to review your application.
We offer 3 Levels of Investment
Worker Bee Bond
Minimum Investment: $1,000
Interest Rate: 2.5% simple interest
Term: 3 years
Interest paid at the end of term.
Queen Bee [B] Bond
Minimum Investment: $5,000
Interest Rate: 3.0% simple interest
Term: 3 years
Interest paid at the end of term.
Apiary Bond
Minimum Investment: $10,000
Interest Rate: 3.5% simple interest
Term: 3 years
Interest paid at the end of term.
Propolis Team!
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Lindsay is a community developer and researcher with a background in agriculture and food systems, affordable housing, community economic development, rural and small city resilience, and grassroots community decision making. She has a talent for facilitating complex projects from conceptualization to implementation. Lindsay is a co-owner of Tapestry Collective Co-op and the Food Policy Implementation Lead for the Kamloops Food Policy Council.
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Miles is a construction project manager with a talent for designing and building high performance buildings at costs at or below conventional construction costs. Miles is the owner of Nexbuild Construction. Miles recently completed construction of a net-zero 4-plex on Schubert Drive, which is Kamloops’ best performing multi-family building for energy usage, and a childcare facility, which achieves net-zero energy and also significantly outperformed the average construction cost per childcare space in BC ($27,000 compared to $40,000).
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Carole is committed to building resilient regional food systems and affordable netzero housing while protecting the natural environment. Always an avid hiker and naturalist, she parlayed her Biology degree and a Masters in Adult Education into a fulfilling teaching career with Thompson Rivers University and President of Kamloops Food Policy Council. Carole finds meaning as a supporting player to grassroots community leaders dedicated to systems change and climate action.
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Bonnie Klohn is a settler in Secwepemcúl’ecw, and shares a deep sense of roots and responsibilities, as a member of a family that has lived on this land for six generations. Bonnie completed a Masters of Art Education from Concordia University with a research specialization in the expression of Indigenous Food Sovereignty through socially-engaged art and has been involved in the food movement in Kamloops and beyond since 2007.
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Charlotte is a yoga teacher and trauma therapist interested in building a more sustainable, connected, and loving community for her two children to grow.
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Jyelle is grateful to reside on the unceded lands of the Tk'emlups te Secwepemc on the North Shore. She is involved with the Kamloops Makerspace, works for the Kamloops Art Gallery, does after school programming, and makes crêpes at the Saturday Farmers Market. She has a BFA from the University of Victoria.
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Born and raised in Germany, Petra moved to British Columbia in 1995 with her family. She is a mother of two boys now in their 30’s, including Falk. Her background is in Early Childhood Education, organic farming, making cheese for Jerseyland Organics and currently she is a therapist who is specializing in trauma work. Petra is passionate about everything food; growing food, cooking for & with friends and bringing together people to foster connection and community.
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Falk is a tattoo artist and builder with a passion for learning and creating with a background in construction, stone masonry, game design, handheld electronics, C++ coding, woodwork and amateur programming. He has a keen eye for graphic design bringing concepts to life and ideas into reality. Falk is a co-owner of Fear City Tattoos, and has been tattooing professionally since 2010.
Propolis was founded in 2019 by a small group of like-minded individuals wanting to create affordable housing options within walkable communities while fighting climate change.
By creating affordable housing that is sustainable, we can bring our community together. All while sharing resources, growing food, making beautiful spaces and reducing our impact on the environment.
With these benefits in mind, we will build a network of affordable net-zero multi-family buildings in Kamloops over the next several decades.
FAQ
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Community Bonds are a way for Propolis to borrow money from the community, and pay it back with interest after a period of time. They are similar to a government bond yet issued in the name of an organization – like Propolis! The funds invested will support our community project and we will issue interest payments to you, the investor. Community bonds are used successfully by not-for-profits, charities and co-operatives, typically used in conjunction with other forms of financing like mortgages and lines of credit.
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Not only can investors (both individuals and institutions) support a project that directly benefits the community, they can also earn a great financial return. Our investors will have a strong sense of community ownership and engagement, which will help us grow the co-operative and continue to provide much-needed affordable housing in Kamloops.
For Propolis, the ability to set investment terms based on our financial structure and capacity to pay investors back is very valuable.
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Many other social enterprises and charities across Canada have used community financing and community bonds successfully. Tapestry Community Capital, our community bond partner, has supported other organizations to raise over $100 million dollars from over 4000 investors.
Other not-for-profit or co-operative organizations including the Centre for Social Innovation, Earth Day Canada, Sketch Working Arts, SolarShare, ArtScape, Kingsway College School, YWCA Toronto, and Innovation Works have issued community bonds.
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There are so many upsides to supporting our project:
Affordability
The availability of affordable housing is a huge issue for most people. Anyone that’s recently moved homes has felt the pressure of skyrocketing housing costs. As a non-profit co-op, Propolis is not profiting from our basic need for shelter. Monthly housing fees paid by resident members will only cover the building, maintenance costs and a bit to invest in future Propolis projects so we can help make affordable housing a reality for everyone.
Net-Zero
Our buildings are net-zero! Through solar, wind, good insulation, and passive heating and cooling, our buildings will provide for all our energy needs!
With global climates becoming ever more extreme, our housing will maximize the self-reliance of our members on a daily basis. Rooftop gardens provide food security, net-zero buildings provide energy security, and building design that doesn't rely on complex repair and maintenance schedules means our buildings will function with minimal reliance on external supply chains.
Community
We’re a cooperative, which means that the people who live in our buildings make all the decisions! As a community we can shape the future of the place we call home without being beholden to the profit motives of far off stakeholders.
Everyone at Propolis is an active member of our community, doing our part to make it a more beautiful place! We’re creative and thoughtful, and our buildings are set up to encourage natural interactions. With all kinds of shared community amenity spaces we can all inspire each other on a daily basis.
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Investing in Propolis Bonds and becoming a member of Propolis are separate processes, but an individual can do both! Currently, we are not accepting membership applications since our first building is still in the planning stages. If you are interested in membership, make sure you have signed up for our newsletter so you’ll hear when our membership application is open!
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Propolis intends to secure grant funding and financing from a number of partners and lenders. This includes the Canadian Mortgage and Housing Corporation’s Co-Investment Program, the Federation of Canadian Municipalities’ Sustainable Affordable Housing Fund, the ChildcareBC New Spaces Fund, and bridge financing through lenders such as Credit Unions.
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Propolis Bonds are asset-backed by the purchase of 422/424 Tranquille Rd. Given the high demand for redevelopment properties in Kamloops and the overall strength of the commercial real estate market in Kamloops, we anticipate that the property will increase in value over time, so that if the property needs to be sold, we will be able to pay back the bond investments in full.
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Propolis Bonds will be available for purchase by completing the investment application via DocuSign. Complete this form and you will be emailed the details and a link to the application. The investment process is managed by Tapestry Community Capital.
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Individuals, organizations and businesses are eligible to purchase Propolis Bonds.
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Our limit for investments is $1.1 million. When we reach this target, we will stop accepting investments. Aside from this, there is no limit for individual investors.
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Yes! It is slightly different than purchasing a bond for yourself. Email us at info@propoliscooperative.com to get the process started.
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Yes. On an annual basis and upon written request.
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Interest is paid annually or at the end of your investment term, depending on the bond series you purchased. Propolis has gone through extensive financial planning to make sure the annual interest payments can be disbursed and principal can be repaid to investors within the allotted time.
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When bonds mature, Propolis will reach out to its investors. For those that are interested, we plan to have an opportunity to reinvest. Otherwise, we will disburse payment for the principal and the interest owing.
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Bondholders may request a repayment of bond principal in times of hardship, subject to the availability of replacement capital and/or funds within the organization and at the discretion of Propolis’ Board of Directors.
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Interest earned from a community bond is taxed as regular Investment Income from Canadian Sources. Consult with a tax accountant for your individual case.
Tapestry Community Capital will support the organization in preparing, filing and issuing T5 Statements of Investment Income and will send them annually to investors via a secure electronic PDF or by mail according to the investors’ consent on behalf of the organization.
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For our first investment campaign, Propolis Bonds will not be eligible to be held in RRSP/TFSA. However, we do plan to do more campaigns for future building projects, and we expect we’ll be able to offer RRSP/TFSA eligible bonds for our next campaign!
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The Propolis Bond Purchase forms are prepared and executed in DocuSign. DocuSign eSignature protects highly confidential information by encrypting and making every document tamper-evident.
Tapestry’s Investment Management system is a closed, encrypted system. All traffic between the client and server is SSL-encrypted with a signed certificate issued by a third-party certificate authority (COMODO RSA Domain Validation Secure Server CA). All database files on the server are encrypted at rest. The server is hosted in a secure data centre in Canada. All data changes are logged in an audit trail and only key Tapestry staff have access to this data.
For more information on Tapestry’s Privacy Code please visit: http://tapestrycapital.ca
Got a question? Drop us an email at: info@propoliscooperative.com
Our Partners
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Nexbuild Construction Corporation has been a leader in sustainable construction since 2009 and has focused on building affordable, resilient, net-zero energy buildings since 2017.
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Tapestry Collective Co-op is a Kamloops-based femme-owned collective. The team at Tapestry Collective Co-op are passionate and skilled in action research, community development, partner engagement, and project development. We help change makers doing ambitious, systems-level work to understand their impact on a deeper level and to identify practical and meaningful solutions to society’s most pressing issues.
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Tapestry Community Capital supports non-profits, co-ops and charities in raising and managing community bonds. Since 1998, the Tapestry team has supported projects from renewable energy to co-working to housing, in successful community financing campaigns, raising and managing $100 million from over 4,000 investors.