Invest in a Community-Owned
Kensington Market!

We are raising up to $2 million in community bonds to acquire a second property in or near Kensington Market for long-term community benefit.

You can support us by purchasing a community bond or donating to our organization. Let’s ensure that Kensington Market continues to be an inclusive, vibrant, and affordable place for generations to come.

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The Challenge

Over the last 10+ years, Kensington Market has experienced rapid neighbourhood change that has threatened the unique character of the market. Development pressures, renovictions, and the financialization of real estate has resulted in the loss of affordable housing and spaces in the Market. At the same time, new businesses are catering to higher socioeconomic groups, and illegal short-term rentals in the neighbourhood are on the rise. As a local organization, we have witnessed long-term residential and commercial tenants being displaced due to rent increases, resulting in the loss of local businesses and the fragmentation of our community. These pressures are set against the backdrop of a growing unaffordability crisis in our city, and we must act urgently to protect the affordable and eclectic nature of Kensington Market.

The Opportunity

KMCLT is issuing community bonds to finance the acquisition of a second property! A community bond is an interest-bearing loan that a non-profit, charity, or co-operative can issue to support a project they are undertaking. Individuals and organizations can purchase a community bond and earn a fixed interest rate, and their investments support projects that generate positive social, cultural, or environmental returns. Rather than relying on a traditional mortgage, we are leveraging community bonds to expand on our values in mutual aid and community ownership and provide the opportunity for community members and supporters to directly invest in the acquisition of our next property.

We are seeking to purchase either a residential or mixed-use (residential with commercial) property in or near Kensington Market. Our goal is to acquire a building with at least 6 residential units, with the goal of preserving existing affordable housing sites. Since the real estate market changes quickly, we have not yet selected a specific property to purchase. Instead, we are creating an acquisition fund by the fall of 2024 that will allow us to purchase our next building. The acquisition will be financed through a mixture of community bonds, donations, and government grants.

By purchasing a bond, you can help advance the vision of a community-owned Market, and keep the wealth within our local community.

Investment Options

Help Kensington thrive by investing in one of our three community bond options! These bonds were developed with input from community, and are intended to appeal to all types of investors, especially our closest supporters.

Kensington Community Bond Details:

KMCLT’s goal is to raise up to $2 million in investments through this Community Bond Campaign, with a minimum goal of $1 million.
Interest is fixed and will be paid to investors annually.
All bond funds will be directed into an escrow account with our lawyer, Iler Campbell LLP. Upon acquisition of a suitable property, bond funds will be released from the escrow account and forwarded to the seller’s lawyer.
Bond funds held in escrow will receive between 1.5% to 2% interest, and once released from escrow, will earn the full interest rate for the series as per the investment terms.
For those that are keen to help further, there will be an opportunity to donate interest earned each year back to KMCLT.
Once bonds mature, investors can choose to redeem their principal, reinvest in new bonds that may be available, or donate their principal to our organization.
Community bonds will be available for purchase beginning March 2024.
For more information, please view our business plan, offering statement, and supporting financial documents.

Need more information? Hear from our community members!

Listen to members from the Kensington Market community talk about why they’re invested in our work and our community bond campaign.

Our Track Record

As a local, community-led organization, our impact goes beyond just securing land. We make notable achievements to protect and enhance the unique neighbourhood character in Kensington Market. By investing in KMCLT, you assist our organization in meeting the following goals:

Community-led property ownership

All of the properties that we acquire are community-led and community-owned. This means that we seek to provide any vacant residential units to members of the community, especially those facing housing insecurity or those who have been removed from the market due to renovictions or evictions. It also means we seek commercial tenants that best represent our community, such as our existing tenants, those with a relationship to the neighbourhood, or tenants that meet a need from the community, rather than simply taking the highest commercial bidder.

Protecting and preserving existing rental housing stock

Our current building at 54-56 Kensington Avenue is an example of affordable housing that would have been lost in Kensington Market had KMCLT not intervened to purchase it, as it was destined to become a short-term rental property. From this acquisition, our organization has become an entity that is now seeking to acquire and protect more at-risk properties in the community, addressing our housing crisis before it is too late. Unlike private landlords or governmental agencies, our properties will never be sold back to the private market and our tenants can be confident they are represented and supported by the KMCLT.

Community advocacy

One of our first projects was to advocate for the development of affordable housing on the City-run parking lot at 35 Bellevue Avenue, and we are happy to note that it is now in the early stages of development. Moreover, we have resisted gentrification and displacement for years by reporting and shutting down illegal short-term rentals in the Market that reduce the permanent housing supply. Most recently, we received national media attention for this work against illegal short-term rentals and have been part of discussions both municipally and provincially on how to make regulatory solutions to this issue. In addition, we continue to stand up for and advocate for our neighbours in encampments who cannot access affordable and reliable housing.

Community coordination

KMCLT works closely with various neighbourhood groups in Kensington Market including: Friends of Kensington Market, Kensington Market Action Committee, Kensington Market Business Improvement Area, Kensington Market Historical Society, and Red Pepper Spectacle. By coordinating amongst local organizations, we are able to advance unified goals and visions for the neighbourhood. We also work closely with property owners, residential tenants, business owners, workers, local non-profits, local politicians, and designated government officials. We encourage mutual aid in our community by seeking local businesses, artists, and other non-profits to partner and work with us. We also continue to work closely with our neighbouring local groups, which includes the Toronto Chinatown Land Trust.

Public education

We have led walking tours and hosted educational events in the neighbourhood, offering people both in and outside the community the opportunity to learn about the history and significance of the Market. We will continue to host these events and think creatively of ways to engage local residents and workers.

Project Team

Zack Bradley
Development Manager

Zack has worked for KMCLT since 2023 and is a strong advocate for affordable housing. He previously worked as a Development Manager with Streetcar Developments, a Toronto-based real estate development firm, and, prior to that, was a Planning Assistant with the Toronto Transit Commission (TTC). Zack has a Masters of Planning in Urban Development from Toronto Metropolitan University and a Bachelor of Journalism from Carleton University.

Angela Ho
Community Investment Manager

Angela joined KMCLT in 2023, and brings experience in communications and engagement. Prior to moving to Toronto, she worked with the Planning unit at the University of British Columbia, and was also involved as a member of the Vancouver Chinatown community. She is currently completing her Masters of Science in Planning at the University of Toronto.

Tapestry Community Capital

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, helping to raise and manage $100 million from over 4,000 investors.

Frequently Asked Questions

What are community bonds?

A community bond is an interest-bearing loan that a non-profit, charity, or co-operative can issue to support a project they are undertaking. Individuals and organizations can purchase bonds and earn a fixed interest rate, and their investments support projects that generate social, cultural, and/or environmental returns. Community bonds have been used successfully by many types of organizations, typically in conjunction with other forms of financing like mortgages and lines of credit.

What are the benefits of purchasing a bond with KMCLT?

By purchasing a community bond, investors can support KMCLT in acquiring a second property in or near Kensington Market that will be held for long-term community benefit. Investments will have direct benefits to the Kensington Market community, while also generating great financial returns for investors. Investors will be supporting KMCLT to advance its mission of providing affordable housing, maintaining the unique character of Kensington Market, and protecting the neighbourhood as an affordable and diverse place for residents and visitors alike.

What if you do not find a suitable property to purchase?

Community bonds will be held in an escrow account for up to one year while KMCLT sources the next suitable property for purchase. These funds will be considered to be part of the Kensington Acquisition Fund. If we are unable to acquire a property after one year, investors will have the opportunity to redeem their bond principal or continue to keep it within the escrow account for a future acquisition by KMCLT.

Will I earn interest while the funds are held in an escrow account?

Bond funds held in escrow will receive between 1.5% to 2% interest, and once released from escrow, will earn the full interest rate for the series as per the investment terms.

Are there investment limits for the community bonds?

There are no investment limits for individuals, businesses, and organizations wishing to purchase a community bond.

What happens once my bond matures?

Interest will be paid out according to a schedule, and at the end of the bond period, investors can choose to redeem their principal or reinvest in new bonds that may be available.

How are community bonds taxed?

Interest earned from a community bond is taxed as investment income from Canadian sources. Tapestry Community Capital will support KMCLT in preparing, filing, and issuing T5 Statements of Investment Income. They will be sent annually to investors via a secure electronic PDF or by mail according to the investors’ consent.

Are community bonds eligible to be held in a registered savings account (i.e., TFSA, RRSP)?

For our first investment campaign, community bonds will not be eligible to be held in a TFSA/RRSP account. However, we hope to be able to provide TFSA/RRSP eligible bonds for future campaigns.

Who is eligible to invest?

Individuals, businesses, and organizations throughout Canada are eligible to purchase a Kensington Community Bond.

Who is managing the investment process?

KMCLT has partnered with Tapestry Community Capital to develop and implement the community bonds campaign. Investments will be managed via Tapestry’s proprietary investment management platform, Atticus. KMCLT will manage client relations and be available to meet with investors to answer questions about their investments.

How do I know my information is secure after it has been collected?

Kensington Community Bonds are available for purchase through Tapestry’s Investor Portal, which 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

For further inquiries, please reach out to invest@kmclt.ca.

Invest in a Community-Owned Kensington Market!